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  4. Can I Put 2 $5,000 I-Bonds In My Account With Different Beneficiaries.

Can I Put 2 $5,000 I-Bonds In My Account With Different Beneficiaries.

Ally6770
  |     |   4,294 posts since 2010

I read the directions--First time doing I-bonds and they are on line.

I bought a $5,000 I-bond Thursday and could not figure out how to add a beneficiary. So I closed it out left it without a beneficiary. The pending debit was posted in my checking to be done the following day. It was done. I went to my account and tried again to do the beneficiary Friday and still could not. So I called a credit union where I have accounts and they said they would try to do it with me. I went in and then because the gov emails the one time password I had to go home to get the email cuz I did not bring my phone with me and went back and she put the one time password in and finished the beneficiary and did the 2nd purchase for me. The beneficiary went through OK and was posted the next day when I opened my account but the new I-bond did not go through. The debit is not even in my checking account as pending. You cannot get anyone in the Treasury department. When I got to the right place there was a 2 hour wait. It is not posted as pending in my Treasury account either. I think it may not have been done because it was a different computer? or maybe because the treasury account was still open when I got back to the credit union and we just added the one time password and should have refreshed the page. Strange the beneficiary worked but not the new bond. Should I just add the 2nd I-bond to the same account? First time doing I bonds and this is on line. Had E bonds maybe 60 years ago, but we filled out a paper and signed it and the bank verified it and the bonds were mailed to you. Saturday I called the credit union cuz the people in the office can look to see if treasury will have a debit to my account posted on Monday night but they do not work weekends. So it will be Monday before I can call and have them check if a pending debit will be posted on Monday night at close of day. Any suggestion or has anyone gone through this?

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Answers
alan1
  |     |   877 posts since 2015
from TreasuryDirect:

How do I add a secondary owner or beneficiary to my securities?

Adding a secondary owner or beneficiary to securities registered in single ownership form is simple in TreasuryDirect. You can edit securities being held in Current Holdings; however, you cannot edit savings bonds held in your Gift Box. Securities in a Conversion Linked account (CLA) must first be transferred to a primary or another linked account in order to add a secondary owner.

Your electronic savings bonds and marketable securities may be registered in your name alone, your name with a secondary owner, or your name with a beneficiary. Each registrant's taxpayer identification number must be shown. Note: Registrations in entity accounts may not name a secondary owner or beneficiary. All securities in an entity account carry a registration identical to the entity account name. Updates made to the registration of a bond will not change the issue date.

To add a secondary owner or beneficiary to your securities registered in single ownership form:

Log into your primary TreasuryDirect ® account.
Click the ManageDirect tab at the top of the page.
Under the heading Manage My Securities click "Edit" a registration.
On the Edit Security Registration page, choose the security type you want to edit and click "Select".
On the Summary page, choose the security or securities you wish to edit and click "Select" (you may edit up to 50 securities to the same registration).
On the Detail page, select the registration containing the secondary owner or beneficiary you desire from the drop-down box. (If you've never created the registration, you can do so by clicking "Add New Registration". Once you've created the new registration, the system will bring you back to the Detail page where you'll find the new registration listed in the drop-down box.) Note: Entity accounts may only have one registration. All securities in an entity account carry a registration identical to the entity account name.
Once you've selected the desired registration, click "Submit" to complete the change in registration for the security.
(emphasis in original)
https://www.treasurydirect.gov/indiv/help/tdhelp/howdoi.htm#addsecondary
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Ally6770
  |     |   4,294 posts since 2010
Thanks I did that. But couldn't add the beneficiary until the next day. That seems like an Oxymoron. Adding a beneficiary should be an easy and immediate choice. I just was not able to do it. I was never given the choice of a beneficiary when purchasing the first bond. Maybe because I do every thing in private browsing and it is not as accommodating to the program, or maybe I was too cautious and slow doing it for the first time and needed to refresh my page? I will check the credit union when they open this morning and see if they have any info of the 2nd debit coming in and that it will post tonight on tomorrows date. If not I will just buy another one and see if I can put the other child on as beneficiary. If not I will do add him tomorrow. Hopefully they will not allow a purchase of over $10,000.
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Choice
  |     |   937 posts since 2020
First I usually do a very small $ amount for what I do for the first time at TD…then if that goes well…I increase the $ amount for another similar ibond. Quoting from others…” If you decide to have a second owner or a beneficiary, enter yourself as the “first-named registrant.” Enter the second owner or the beneficiary as the “second-named registrant.”. Cannot be a trust or business…hope this helps, if not finetune the Q…thanks
PS. One can always change registration after purchase to add Bennie or second owner
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Ally6770
  |     |   4,294 posts since 2010
Thank you. You answered part of my question. I just assumed I could add the beneficiary as I opened the I-bond. I will open the 2nd I bond tomorrow and assume the first time I tried to do the 2nd I bond did not work and will not go through at a later time.
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Choice
  |     |   937 posts since 2020
Small dollars for initial purchases
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Choice
  |     |   937 posts since 2020
To clarify…Registration is first (with or w/o second owner or bennie) then a purchase can be made for THAT account
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Ally6770
  |     |   4,294 posts since 2010
I just got information from the credit union and they posted it on my account that the money is coming out today for the 2nd bond. She said maybe they got the information after the Friday business day for the posting of the transaction. She said it showed on their side and so they put in on to post on my account and it said it was made Friday. So all is well.
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