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bonds are in his name, but he is my dependent. Can I cash these on his behalf or does he need to be present? What do we need to bring? Anything else I should know about the process? Thanks!
May 21, 2015 03:06:31 PM
In reply to Kelly, Yarmouth
Thanks for reaching us on TD Helps, Kelly. We'd be happy to help.
Both TD Bank Customers and Non-TD Bank Customers may redeem EE Bonds at any TD Bank location and there is no charge for this service. To find out TD Store locations and their hours, please visit http://bit.ly/TDStores.
Please note that government regulations require that Non-Customers and Customers with a bank relationship 6 months or less can redeem up to $1,000.00 at any one time with proper I.D. (Driver's License, State I.D., Passport etc.). Also that EE Bonds must be held for a minimum of 12 months from the issue date before they are eligible for redemption. It's your responsibility for claiming the interest gained and it will be sent via 1099 at the end of the year for tax reporting purposes.
You can also call 1-800-US-BONDS (1-800-872-6637) or access the U.S. Government Bonds website at www.savingsbonds.gov for current interest rates and redemption values, including interest earned.
The individual who is able to cash the bonds varies based on ownership. Bonds are similar to accounts in that they are able to have single owners or multiple. This is determined by the purchaser of the bond itself. We recommend reaching out to the TD Store you plan on visiting prior to your trip to determine who will be able to negotiate the bonds.
We hope this helps, Kelly and have a good day.
Megan K, Mount Laurel
May 21, 2015 03:06:59 PM