Qustion about putting emergency fund in I-Bonds...

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eazy
Posts: 71
Joined: Mon Feb 13, 2012 12:05 pm

Qustion about putting emergency fund in I-Bonds...

Post by eazy »

My fiance and I (getting married in 9 months) would like to move a portion of our EF into I-Bonds - So my question is, through TreasuryDirect, do we have to have two sepearte accounts or can we just have one joint account?

Unless I missed it, I cannot find the answer on their website.

Thanks in advance for your time in helping :happy
sscritic
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Re: Qustion about putting emergency fund in I-Bonds...

Post by sscritic »

All accounts are individual. The bonds you buy can be with someone else (primary owner A with secondary owner B, which is not the same as joint, as in owner A and owner B) or with a beneficiary (primary owner A, beneficiary B) or with just one owner (primary owner A).

I think that is all there on the website.
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HueyLD
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Re: Qustion about putting emergency fund in I-Bonds...

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Last edited by HueyLD on Sat Feb 07, 2015 2:56 pm, edited 1 time in total.
Topic Author
eazy
Posts: 71
Joined: Mon Feb 13, 2012 12:05 pm

Re: Qustion about putting emergency fund in I-Bonds...

Post by eazy »

sscritic wrote:All accounts are individual. The bonds you buy can be with someone else (primary owner A with secondary owner B, which is not the same as joint, as in owner A and owner B) or with a beneficiary (primary owner A, beneficiary B) or with just one owner (primary owner A).

I think that is all there on the website.
Thanks! But sorry, I'm still not clear... We just want one account where together we could put the max $20,000 per year in it - So, should we go this route?

"Two owners

When a bond has two owners and one dies, the other becomes the sole owner of the bond.

Note: The co-owner cannot be an organization.

The registration for "Two owners" is set up differently for electronic and paper bonds:
Electronic bonds – primary owner with secondary owner. Only the first named owner may make transactions (such as redeeming the bond). The first named owner may give the second owner the right to view a bond or rights to view and conduct transactions in a bond.

The registration reads: First Owner WITH Second Owner. For example, Mary Smith SSN 987-654-321 WITH John Smith SSN 123-456-789.
Paper bonds – co-owners. Either owner may redeem the bond without the knowledge or approval of the other co-owner. The registration uses OR between the two co-owners' names."
SnowSkier
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Re: Qustion about putting emergency fund in I-Bonds...

Post by SnowSkier »

$10,000 per year per SSN. You each need to open a TreasuryDirect account.

That's the short and simplified answer.

You can also add 5,000 per year additional by overpaying taxes by 5000 and requesting that refund go to i bonds.
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