When One Person Named in an I Bond's Registration Has Died...

If one of two people named on a bond has died, the surviving person is the sole owner of the bond just as if he or she had been the only person named on the bond from the time it was issued.

If you're named in a bond's registration with someone who has died, you have several options. Since you're now the sole owner, you can:

(1) do nothing with the bond until you're ready to cash it;

(2) cash the bond-take it to a local financial institution that redeems savings bonds (if you're listed as a beneficiary on the bond, you'll need a copy of the deceased owner's death certificate, certified to be true and correct by the custodian of the original certificate); or,

(3) have the bond reissued in your name alone or with another person.

To have an I Bond reissued in this situation, you'll need to send a certified copy of the deceased person's death certificate with the bond and an I Bond reissue request form PD F 5387 (you'll have to complete it, sign it, and have your signature certified) to the Federal Reserve Office that provides savings bond services to your region.

When Everyone Named in an I Bond's Registration Has Died...

Regardless of how the estate of the last-deceased bond registrant is being settled, form PD F 5394 was specifically created for requesting reissue or redemption of an I Bond in this situation. The "last-deceased registrant" is the individual named in an I Bond's registration who died last--i.e., who wasn't survived by anyone else named in the bond's registration.

See also:

Reissuing I Bonds
Tax Consequences of Reissuing I Bonds
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