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Reissuing Savings Bonds

...it's not always necessary
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OK. SO WHEN IS REISSUING NOT REQUIRED?

In many cases, reissuing your bonds means youíll owe taxes. The good news is that for these common situations, you donít need to reissue at all:

  • I got married (or divorced) and I've changed my name. Do I need to reissue?
    Not at all. Whenever youíre ready to cash your bond, simply take it to the bank as it is. Youíll sign with the name as itís written on the bond AND your new name. Like this:
    • ▸ Mary Smith, Mary Jones (name changed due to marriage)
    • ▸ Mary Jones, Mary Smith (name changed due to divorce)
  • Oops. My name is misspelled on my bond. Do I need to reissue?
    Again, no. Whenever you're ready to cash your bond, simply take it to the bank as it is and sign with your correct name.
  • I've moved and now the address on my bond is wrong. Do I need to reissue?
    No. Addresses on bonds were just for mailing purposes and do not affect ownership.
  • The Social Security Number on the bond is not mine.
    Surprisingly, no. There's no need to reissue the bond. However, it's a good idea to let us know it's incorrect. We can note that in your file and, if we ever need to search for your bond, we'll have the correct number. See “Correcting a Social Security Number on a Bond.

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IF I DO REISSUE A BOND, WILL I OWE TAXES?

Maybe. It depends on if you are changing the principal (first-named) owner on the bond. This generally happens if:

  • I want to give my bond to someone else. Will I owe taxes?
    Yes, you will owe tax on whatever interest the bond has earned up to the time you reissue it to another person. We provide an IRS Form 1099-INT. The new owner will owe taxes on any interest earned from that point forward.
  • I just received a bond from someone who reissued it to me. Will I owe taxes?
    Yes, you will owe taxes on whatever interest the bond will earn from the date it was reissued to you Ė but not on any of the interest earned before that. You can read more about that in IRS Publication 550, which explains how to pay tax on only interest earned after the bond was reissued.
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HELP! WHAT I NEED ISNíT LISTED.

No problem. Visit our Reissues page for guidance on when you may need to have a bond reissued. Bear in mind: