I am trying to find the steps to cashing in savings bonds for a minor. What info do we need on the back on the bond if the parent or guardian is cashing them in?
Do other banks sell cashiers check at their drive thru areas?
What form replaces PDF 4881 (December 2001) when requesting to redeem Savings Bonds for a deceased individual?
We are an institution with 60 employees and currently have an Affirmative Action Policy/Program in place. We received information from Treasury Direct stating that as of January 1, 2012- paper savings bonds will no longer be sold at financial institutions. As I understand, the two main keys for Affirmative Action are greater than 50 employees and selling US Savings Bonds. Since we will no longer sell the bonds, is our institution required to continue to redeem them? Secondly, without issuing savings bonds, would we be required to maintain our Affirmative Action Policy/Program?
I had a customer come into my branch with a check made payable to a decedent's name, to be deposited in the estate account for the deceased. Does the customer have to have the check reissued so that the payee line reads "payable to the estate of (decedent's name)?", or is the decedent's name just fine?
As a bank, are we required to sell and redeem US Savings Bonds for non-customers? My supervisor believes we may have to provide this service and that it may be tied to the bank's FDIC insurance coverage. I have searched the FDIC website and couldn't locate any information. The US Treasury website just states that individuals may purchase at "some" banks. This led me to believe that it would be a bank policy vs. requirement to offer this service to non-customers. We are considering revising our risk assessment for this service; not offering it to non-customers.
Are there any compliance violations if we turn away a non-customer who wants to cash a savings bond?
How does a person properly endorse a U.S. Savings Bond when the owner is deceased? (The person was the personal representative of the deceased.)
Is there any reason a fee cannot be charged for non-clients redeeming savings bonds? Can this be treated the same as any other non-client check?
The Treasury's Bureau of the Public Debt advises hurricane victims they can redeem EE and I savings bonds that are less than a year old presented for payment from September through the end of Novem