Comments on: Redeeming Series H/HH Savings Bonds

by: Tom Adams

Tue, 18 Mar 2008 16:04:35 +0000

Marcel - Under the assumption that you are planning to send these bonds in yourself (using the link in the article above), then there's no reason for the bank to refuse to certify your signature with a medallion stamp.

Notary Public stamps aren't enough and don't work. Any bank, savings and loan, or credit union can certify your signature with the required medallion stamp. The list is in your phone book.

If you are trying to get the bonds cashed at the bank, on the other hand, and not just a signature so you can send them in yourself, then banks can refuse to do that.

Tom Adams

by: marcel

Mon, 17 Mar 2008 17:22:05 +0000

my question is similar to Jim's back in Sept. We are trying to get a bank to sign/guarentee the HH bonds, but they don't know what to do with them. We've gone to Wells Fargo and they are not sure if their signature is sufficient. Wells Fargo can serve as a notary public…does that work? If not, where are we supposed to go to get these signed? Is there a list of special places to go?

by: Tom Adams

Sat, 09 Feb 2008 16:54:16 +0000

Pat - The people who handle HH bonds at the Treasury use a different process than the EE/I bond group. The HH process follows IRS rules exactly and makes it impossible for your mother to get out of having the income reported under her SS number.

Tom Adams

by: Pat

Sat, 09 Feb 2008 14:50:51 +0000

My dad passed away leaving HH bonds in his name and my mom's. We changed them to her name and mind using OR. She is primary and the bond lists her social security number. We want to redeem them but don't want to use her social security number due to the fact it will show up as income for her and raise her rent at the senior highrise. How can I redeem and use my social security number? Or do we have to change the bonds again?

by: Tom Adams

Sat, 06 Oct 2007 16:00:56 +0000

Joanne - yes, they will have to pay tax on the deferred interest. This interest was earned by the Savings Bonds that were converted into the Series HH bonds. The interest the aunt was receiving, and paying tax on, was earned by the HH bonds themselves.

It's not quite true that you sons won't receive the deferred interest - it's part of the $5,000 they'll get when they cash the bond. The $5,000 minus the deferred interest is the value of the original investment that they've inherited. The rest is interest that taxes have never been paid on.

Tom Adams

by: Joanne

Sat, 06 Oct 2007 13:39:48 +0000

Two of my sons were each given a $5,000 HH bond by their great aunt who has since passed away. Each bond lists their name OR their aunts' name, along with the aunts' SS#. The bonds were a gift, however, SHE was receiving the interest, by direct deposit, for the last several years and had been receiving a 1099 form under her SS#. We are interested in having both of these bonds cashed. The question is, do our sons have an obligation to pay tax on "deferred interest" that they have never received or are they simply taxed for the face value of the gifted bond? One son is still a minor, the other will be 19.