Thursday, February 20, 2014

Where Are the Savings Bonds?

By:  Carole L. Chiamp

Every once in a while a divorce client, when listing assets, remembers that some relative gave them savings bonds when they were a youngster at one time or another.  Others had a savings bond deducted through work regularly for a period of time.  They ask themselves where the bonds are and often don’t have a clue.

Unfortunately U.S. Savings Bonds stop earning interest at some point, usually after 30 years.  They do no one any good left in a drawer.   The U.S. Treasury claims there is $16.1 million dollars worth of unredeemed matured savings bonds.

So what can be done?  You can search the U.S. Treasury Department at  You type in your social security number and some other information.  Once you find that there is a bond you must fill out a form, PDF1048.  It’s not hard.

For more information on this subject there is a helpful article, “Did You Cash In Those Savings Bonds You Got as a Kid?” by Susan Tompori in the Detroit Free Press dated January 23, 2014.