Converting i-bonds to electronic

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vbdoug
Posts: 303
Joined: Mon Feb 26, 2007 11:44 am
Location: Palos Verdes, Cal‹

Converting i-bonds to electronic

Post by vbdoug »

I want to do this but I have found the Treasury Direct web site most unhelpful. For those that have all ready tried to convert, was it seamless or if not, what were your issues?
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stevewolfe
Posts: 1676
Joined: Fri Oct 10, 2008 7:07 pm

Re: Converting i-bonds to electronic

Post by stevewolfe »

Since the site was unhelpful I'm curious why are you thinking you'd like to continue with the electronic conversion vs. keeping them in a safe deposit box, etc?
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Tortuga
Posts: 142
Joined: Sat Aug 16, 2008 9:51 pm

Re: Converting i-bonds to electronic

Post by Tortuga »

vbdoug:

I did it several years ago and don't remember any particular hassle but I don't remember the details at all. I think I had to send the paper bonds with some signed form and it happened over a few weeks, appearing as a linked account in Treasury Direct. I don't believe I had to deal with any TD employee by phone. I may have had to get a notarization on my signature.

Good luck!!
tortuga
sscritic
Posts: 21853
Joined: Thu Sep 06, 2007 8:36 am

Re: Converting i-bonds to electronic

Post by sscritic »

Never did it, but the instructions are pretty clear:
  • Open a TreasuryDirect account, if you don't already have one. Simply complete our easy, online application to get started.
  • Once your TreasuryDirect account is set up, login, click "Manage Direct," then select "Establish a Conversion Linked Account" in the Manage My Linked Accounts menu.
  • After you review the information on the ManageDirect >> Establish a Conversion Account page, click "Create Account" if you wish to create a Conversion Linked Account.
  • Click "Manage Direct," then select "How to Convert My Paper Bonds" under the "Manage My Conversions" menu for complete instructions.
This brochure has some more details:
Enter your paper savings bond information to complete the 3 conversion process.
*See reverse side for more details on this step.
• Print two copies of the conversion details (known in TreasuryDirect as a “manifest”).

Mail your paper savings bonds to TreasuryDirect.
4 • Mail a signed copy of your manifest along with your bonds to the address shown on the manifest.
http://www.treasurydirect.gov/readysave ... pSheet.PDF

Note: rules for converted bonds are different than the rules for bonds purchased at TD. For details, read the Code of Federal Regulations.
618744
Posts: 30
Joined: Sun Jan 23, 2011 2:08 pm
Location: CT

Re: Converting i-bonds to electronic

Post by 618744 »

This thread reminded me to check my TD account to see if my Ibonds were converted. They are.
I mailed them in about 2 1/2 weeks ago, following the instructions sscritic quoted. No big deal,
just fewer pieces of paper to track.
Topic Author
vbdoug
Posts: 303
Joined: Mon Feb 26, 2007 11:44 am
Location: Palos Verdes, Cal‹

Re: Converting i-bonds to electronic

Post by vbdoug »

Thank you for your responses. Re stevewolfe, even though I am currently having issues with the web site I would prefer to have all my i-bond investments in electronic form for reasons of simplicity and consistency. Re scritic, the instructions are very clearly written. I had forgotten that I had opened a conversion account ten years ago. For that reason the directions "missed a step" and I was unable to proceed. The form asked for a taxpayer I.D. number. After a long time I learned that was the same as a EIN number. I have never had either. It appears they want a social security number. Lastly, the form is not taking the serial numbers for my first two i-bond numbers. In an earlier Boglehead thread someone speculated that they may not accept the paper conversion {that I purchased with my tax refund} since I have all ready purchased $10,000 earlier in electronic format. I have an email pending to the Treasury Direct asking for assistance.
Apparently no one else had any difficulties so perhaps my case is an aberration.
yukon50
Posts: 334
Joined: Thu Jan 13, 2011 7:23 pm

Re: Converting i-bonds to electronic

Post by yukon50 »

stevewolfe wrote:Since the site was unhelpful I'm curious why are you thinking you'd like to continue with the electronic conversion vs. keeping them in a safe deposit box, etc?
Do they need to be kept in a safe deposit box? What happens if house burns and they are at home?
placeholder
Posts: 8421
Joined: Tue Aug 06, 2013 12:43 pm

Re: Converting i-bonds to electronic

Post by placeholder »

You would need to fill out the forms to get them replaced so it's best to have a record of them at least the issue dates and face value but serial numbers are even better.
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