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Savings-Bonds-Alert: Wrong social security number a problem?

Tuesday, January 18, 2005

Wrong social security number a problem?

My son has a savings bond that was given to him as a gift when he was born. The person who gave him the bond used her social security number. Will my son have trouble cashing in the bond since the social security number used is not his? Tom's response It's actually quite common for gift bonds to have the social security number of the giver rather than the recipient. It won't cause your son any problems. When a savings bond is cashed, the 1099-INT tax form is always issued under the number of the person redeeming the bond. The social security number on the bond itself is used only for tracking purposes. For example, if you lost the bond and wanted to get it replaced, it would be helpful to know the actual SSN on the bond.


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