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Question

I have several U.S. Saving Bonds made out to myself or my son. My questions are:

1. Can I convert these bonds to another U.S. Treasury item like a T-Bill or T-Note without having to cash the bonds in?

2. How can I change the name of my son without having to cash in the savings bonds?

Answer

Converting U.S. Savings Bonds to T-Bills or T-Notes, says James R. Ferguson III, CFP®, managing partner and co-founder of Roan Capital Partners, is possible, depending on when the original bonds were issued and how the reader defines ‘cashing the bonds in.’ Consider your personal tax situation and the type of bonds purchased in conjunction with the purpose of the bonds long-term, he says. ”TreasuryDirect.gov will allow you to execute nearly all transactions via the online portal,” Ferguson says. “Please keep in mind this can be a taxable event depending on the specifics and how you have handled taxes to date on the bonds.” Read more here.

It is possible to change the name on the bonds without having to cash in the bonds, says Ferguson. “There will be forms and paperwork depending on the name change details, etc.” he notes. This link provides the forms and gives detailed instructions depending on your needs and objectives, Ferguson says.

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Question

I have several U.S. Saving Bonds made out to myself or my son. My questions are:

1. Can I convert these bonds to another U.S. Treasury item like a T-Bill or T-Note without having to cash the bonds in?

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