Comments on: Savings Bond advice

by: Tom Adams

Thu, 27 May 2010 18:04:47 +0000

Al - The info you're looking for is here.

Tom Adams

by: Al bondanza

Wed, 26 May 2010 22:19:45 +0000

I heard you can reissue EE & I bonds. Can EE bonds be reissued to the the children at value,or must the deferred Taxes be paid before reissue? Is there a simple form? Bond years "93"

by: Tom Adams

Thu, 22 Apr 2010 20:09:10 +0000

Laura - I'm sorry, now I get it. You're asking about the penalty for cashing a Savings Bond before its fifth anniversary.

The penalty is the most recent three months interest and it's already been deducted from the redemption values you see in Savings Bond calculators like the one at the top of the page. Most people don't even know they're paying a penalty as there's nothing obvious about it.

Tom Adams

by: Laura

Thu, 22 Apr 2010 16:23:20 +0000

Thanks Tom. I was really asking more about the penalty. Title 19 is basically when you sign over everything to the state in exchange for the care at the nursing home.

by: Tom Adams

Thu, 22 Apr 2010 15:57:21 +0000

Laura - I'm sorry, but I don't even know what Title 19 is. This seems like a question about Savings Bonds, but it's really a question about how Title 19 works and that's not something I know anything about.

Tom Adams

by: Laura

Thu, 22 Apr 2010 13:12:55 +0000

Tom,
My father-in-law has several savings bonds, 3 of which are less than 5 years old. He is in a nursing home and we'll be filing title 19 for him very soon. Can you explain what the penalty (P5) is for cashing bonds or how its applied?

Thanks for such an informative website.