Savers and investors, myself included, will lose a convenient purchase channel but they left open a small backdoor if you really want paper savings bonds, either because you like them in paper form or because you want to buy beyond the $10,000/person limit, it's still possible to get them after january 1,. Anyone who is over 18 and legally competent with a valid social security number, us bank account, and us address of record can purchase savings bonds if you still have paper savings bonds (newly-issued bonds are electronic, and paper bonds can be converted to electronic bonds), take them to your financial. How to buy series i savings bonds for your savings bond portfolio there are four easy ways to buy series i savings bonds for your savings bond portfolio depending upon your own needs and preferences, you can take delivery of physical paper bonds or buy your bonds electronically online. You have two options one option is to purchase paper savings bonds from a financial institution the other option is to purchase savings bonds and other treasury notes through the federal government's treasurydirect program to learn about this program and how. Even if the bond is lost or destroyed, it can still be replaced - since savings bonds are registered with the government although they don't earn much interest compared to the stock market, they do offer a much less volatile source of income they also can't be cashed until at least six months post-purchase, and the longer. There's no charge to convert paper bonds no earned interest will be lost, and the bonds will keep their original issue dates and current interest rate terms 5 i've been buying paper bonds to pay future college expenses can i still do so while paper savings bonds no longer will be available, the same education tax benefit.
I'd like to give my niece a savings bond as a graduation gift i understand that i can't buy paper savings bonds anymore what do i need to do to give her a bond although the government no longer issues paper savings bonds, it's still easy to give bonds as gifts -- and they're much easier to keep track of. They're going to stop selling paper saving bonds after jan 2012 gone will be the days when a grandparent could walk down to the bank and sock away $50 every year to make an ironclad investment for their grandchildren but there is a bit of a “backdoor” way you can still buy them without having to go. Investors can still get up to $5,000 in paper i savings bonds by using a legal back-door method -- via their tax refund – yet very few of them know about this option and even for those who do know about it, this back-door method for purchasing paper savings bonds may not be available after the 2011 tax.
You can no longer purchase paper series i and ee savings bonds—those convenient envelope-stuffer gifts—at banks and credit unions you must buy electronic bonds if you're buying for someone who doesn't yet have a treasurydirect account, you can still buy the bond by clicking “this is a gift” during purchase. When you purchase savings bonds with your tax refund, you will receive paper bonds, issued in your name or the names you designate as primary owner, co- owner or beneficiary the interest earned by purchasing and holding savings bonds is subject to federal tax at the time the bonds are redeemed. Buy, manage, and redeem series ee and i electronic savings bonds convert series ee and i paper savings bonds to electronic through the smartexchange® feature purchase electronic savings bonds as a gift enroll in a payroll savings plan for purchasing electronic bonds invest in other treasury securities such as bills.
The bureau of the public debt, the arm of the united states treasury that oversees the sale and redemption of bonds and other government securities, is scrapping paper savings bonds you'll still be able to buy them in an electronic version, as you can now, via the bureau's web-based treasurydirect. That report says treasury is working on a replacement for treasurydirect that will be easier to use and could simplify the gift-buying process for savings bonds meanwhile, it is still possible to buy paper versions of series i bonds as gifts you can do this with your irs tax refund through the tax time. How to buy us savings bonds us savings bonds from the department of the treasury are a low-risk investment you can purchase for yourself or as a gift the interest earned is exempt from state and local income taxes, though you must pay.