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Savings-Bonds-Alert: Redeeming 100 Savings Bonds

Tuesday, November 02, 2004

Redeeming 100 Savings Bonds

I am a legal assistant. We have a client who is assisting her elderly mother and in that process, has in excess of 100 Savings Bonds they would like to redeem. Her mother is unable to sign very easily and certainly would not be able to sign every bond. Is there a process which would only require minimal signing by Mom? Tom's response Yes, there's a form you can use. She'd only have to sign once on the form. Click here for more information on Savings Bond redemption, including a link to the form you need (PD F 1522). However, you might advise your clients that cashing in this many bonds all at once will probably cause them to pay a lot more income tax than they need to. They might want to look at this page on the Savings Bond deferred tax time bomb before completing this transaction.

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