Bank Account registered with TreasuryDirect (for purchase of I bonds)
If my I bonds are registered in the name of my revocable living trust does the bank account listed with Treasury Direct also need to be in the name of the trust? At the time of redemption does the money flow back into that account or does Treasury Direct mail a check? Thanks, Terry!
Terry Says
Yes, you need a bank account titled in the name of your Revocable Living Trust. It can be a money market or checking account. You’re going to hold those bonds for at least 5 years to avoid an interest penalty — 3 months loss of interest. And yes, when you eventually redeem them the money will go back into that bank account.
