treasury direct gift bonds
In December I set up an account to purchase an I bond and attempted to set up a seperate account for my wife but it sent me back to my account. I ended up purchasing another I bond for my wife as a gift in my account.
I am trying to keep this accounting straight.
Do I have a joint account with my spouse? (it seems silly to have her bond in a gift account)
Can I make this a Joint account? ( it would seem the most logical way to hold things)
When I tried to set up an account in her name it seemed as though the site was preventing this and defaulting to my account. It seems more logical to have two seperate linked accounts.
Am I missing something?
Terry Says
Hmm, I can think of a lot of things that could happen, but first you should know that savings bond accounts do not have joint owners. You can name a beneficiary, or purchase a bond as a gift (for which you need her SS number).
What you SHOULD have done is open a separate account for her — in her name alone using HER SS number. But now that you’ve done it and have the high rate, it can stay in the gift box — or be distributed to her in her own account. (Where she can buy $10,000 in bonds this year — 2023.)
Read this: https://treasurydirect.gov/savings-bonds/gift-a-bond/
