I am a POD benificery for some series EE savings bonds. I will have the bonds re-issued in my name. Can these paper bonds be converted to Treasury Direct? Can these bonds be reissued and changed from collecting interest within the bond, to paying out interest from this date forward? Can the full value of some of these bonds be reissued in my son's name without triggering taxation? Tom's response The ability to convert paper bonds to Treasury Direct will be announced early next year. You'll have to open a Treasury Direct account, obviously, to do this. I don't know yet if you'll be able to convert these directly or whether you'll have to have the registration changed first. They haven't announced the rules for things like that. Since the Treasury stopped issuing Series HH bonds last summer, there are no longer any savings bonds that pay out interest. However, once you get these in Treasury Direct you'll be able to make partial withdrawls, which accomplishes the same thing. Just withdraw the interest on a schedule of your choice. Having the bonds reissued in your son's name will trigger a taxable event. Adding your son as co-owner or beneficiary will not.