I have I bonds in a gift box that we’re supposed to go to a family member. Sadly that family member has passed away. Unfortunately when I purchased the bond, I did not name myself as the beneficiary.

So I guess I’m wondering what happens? As far as I understand there’s no way for me to cancel or turn in the bond. Is there any option for me to recoup my money? Thanks

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DeluxeXL t1_j2e656k wrote on December 31, 2022 at 4:28 PM

Contact TreasuryDirect (may also need to get the estate executor to also contact TD). The I bond gift should go to the recipient's estate.

Brdwygurl OP t1_j2e8rtc wrote on December 31, 2022 at 4:46 PM

Thanks. I will be the executor, was just hoping there was a way to speed up or simplify the process. I appreciate your response

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WasteProfession8948 t1_j2ea515 wrote on December 31, 2022 at 4:55 PM

If it is still in your account and has not been transferred to yours, I believe you can change the recipient. I think you can also still add a beneficiary.

Brdwygurl OP t1_j2ecrsu wrote on December 31, 2022 at 5:13 PM

Really? I couldn’t see A way to do it

WasteProfession8948 t1_j2ee8mb wrote on December 31, 2022 at 5:23 PM

Check out the videos this channel has done on I-bonds. She has done quite a few and does very helpful step-by-step tutorials.

https://youtube.com/@DiamondNestEgg

ETA: Here is her I-bond playlist: https://youtube.com/playlist?list=PLsv_4H5rP97EoJqiwJl-DEWzWhFmT1E1Z