how to redeem a series ee bond with a power of attorney

You can authorize someone to cash your savings bonds by giving her power of attorney. This attorney-in-fact must then present the bond or bonds to an authorized officer of a trust company, credit union or bank to certify her signature. Alternately, she can fill out Form PDF 1522 and send the bonds to the address on the form for redemption.

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How do I get a power of attorney to redeem bonds?

Oct 29, 2014 · I have the power of attorney for my aunt who has dementia and lives in a memory care home. She has about $30,000 in Series EE savings bonds. She is rapidly going through her savings paying for care.

Can a power of attorney cash in savings bonds?

• Submit a certified copy of the power of attorney authorizing the attorney-in-fact to do so. The document must: o Have a legible stamp or seal of the certifying officer o Either be signed within the past two years or contain a durability clause • Complete

What happens if I redeem an I or EE bond early?

Nov 22, 2015 · How to Redeem/ Cash a US Savings Bond as Power of AttorneyWHAT YOU WILL NEED:1. Treasury Form: FS 1522 2. Your Power of Attorney documents3. BondsPower of At...

How do I redeem a savings bond?

Step 1. Draft the power of attorney carefully. Some banks will refuse to cash bonds and remit the money to an attorney-in-fact unless the power of attorney specifically mentions savings bonds.

Can a POA cash EE bonds?

Can an individual acting under a power of attorney cash a savings bond or note? No, do not cash bonds or notes presented and signed by an attorney-in-fact (an individual acting under a power of attorney).

How do I cash a savings bond not in my name?

What will I need to cash a paper bond? Regardless of where you cash your bonds, if you are not listed as the owner or co-owner on the bond, you have to submit legal evidence or other documentation to show you are entitled to cash the bond. (We don't return legal evidence.) Note: Savings bonds cannot be transferred.Jan 21, 2022

How do I cash a savings bond in someone else's name?

Now, if you simply want to cash in a bond you intended to give someone else as a gift, contact your local Federal Reserve Bank or branch and ask for the form titled “Request for Refund of Purchase.” Complete it and follow the other instructions and you will be entitled to receive a refund of the amount you paid for the ...May 6, 1989

What documents do I need to cash a savings bond?

In addition to the bonds, you'll need proof of identity, like a United States driver's license. You'll also need an unsigned FS Form 1522. When you go to your local bank or credit union, they'll watch you sign the form, and then certify your signature. When cashing in a paper bond, they must be cashed in full.

Can I cash a savings bond made out to someone else?

A savings bond isn't transferable, so signing it doesn't allow someone else to cash it. As protection against fraud, financial institutions require more than a signature to cash savings bonds.

Can I cash my deceased parents savings bonds?

Savings bonds can be cashed in only by the owner, a legal representative or a beneficiary if the owner passes away. When a deceased parent has left you some savings bonds, you might be able to just hang on to them.

Who can cash a Series EE bond?

A parent or guardian of a child who is the bearer of a savings bond can redeem the bond, as long as the child is too young to sign his or her name. If the original owner of a bond has died, but someone else has been named as a beneficiary on the bond, the beneficiary can redeem the bond.

How do I cash a savings bond after name change?

To cash your bond, sign it with your current name rather than your maiden name. The bank teller will then note on the bond paperwork your account number along with the date you opened the account. He will also make a note that your signature is a match, but your name has changed due to marriage.Feb 5, 2019

Can I cash a savings bond at a bank that isn't mine?

You can cash up to $1,000 worth of savings bonds at any bank.Feb 5, 2019

Can you deposit a savings bond into an ATM?

Can I deposit my savings bonds at an ATM or night drop? Any transaction involving a savings bond, whether you are depositing or cashing, must be done in person. The endorsing of the bond must be witnessed by the teller processing the transaction and the appropriate identification must be presented.

How much is a $50 EE savings bond worth after 30 years?

For example, if you purchased a $50 Series EE bond in May 2000, you would have paid $25 for it. The government promised to pay back its face value with interest at maturity, bringing its value to $53.08 by May 2020. A $50 bond purchased 30 years ago for $25 would be $103.68 today.Jun 29, 2021

How do Series EE bonds work?

EE bonds earn interest until they reach 30 years or until you cash them, whichever comes first. You can cash them after 1 year. But if you cash them before 5 years, you lose the last 3 months' interest. (For example, if you cash an EE bond after 18 months, you get the first 15 months of interest.)

What is a power of attorney?

A power of attorney enables a representative to handle legal and financial matters for someone who becomes unable to do so, either because of illness, disability or some other factor. Many banks are wary of cashing savings bonds, even when presented with a power of attorney document. The key to cashing bonds with a power ...

How to cash savings bonds?

Step 1. Draft the power of attorney carefully. Some banks will refuse to cash bonds and remit the money to an attorney-in-fact unless the power of attorney specifically mentions savings bonds. Step 2. Ensure the power of attorney is properly certified.

Where is George Lawrence?

Based in Traverse City, Mich., George Lawrence has been writing professionally since 2009. His work primarily appears on various websites. An avid outdoorsman, Lawrence holds Bachelor of Arts degrees in both criminal justice and English from Michigan State University, as well as a Juris Doctor from the Thomas M. Cooley Law School, where he graduated with honors.