The U.S. Department of the Treasury manages savings bonds and treasury securities through TreasuryDirect. When a savings bond owner dies, the bonds may transfer directly to a co-owner or named beneficiary, or be handled through the estate. The process depends on whether someone is named on the bond, whether the estate is court-administered, and whether total treasury securities exceed $100,000.

Death notification

When a savings bond owner dies, how to proceed depends on whether a co-owner or beneficiary is named on the bond. If someone is named, the bond bypasses the estate and transfers directly. If no one is named, the bond becomes part of the estate. For electronic bonds in a TreasuryDirect account, contact TreasuryDirect at 844-284-2676 immediately so a hold can be placed on the account.

Deadline: As soon as possible; contact TreasuryDirect for electronic bonds to place an account hold

Survivor benefits

The Treasury offers 3 benefits for surviving family members.

Direct Transfer to Co-Owner or Beneficiary

If a living co-owner or named beneficiary exists on the bond, the bond transfers directly to that person and does not become part of the estate. For EE or I bonds still earning interest, the surviving person can cash the bond at a financial institution, let interest accumulate until maturity, or request reissuance in their name alone through TreasuryDirect. All HH bonds reached final maturity as of August 1, 2024, and must be redeemed.

Non-Administered Estate Procedure (Under $100,000)

If no one is named on the bond and the estate is not court-administered, a voluntary representative can cash or distribute bonds using FS Form 5336. Total treasury securities must be $100,000 or less in redemption value as of the date of death. The voluntary representative must be at least 18, competent, and be the surviving spouse, blood relative, legally adopted child, or next of kin. Treasury cannot return submitted documents, so send legible copies of legal evidence.

Amount: Full redemption value of bonds

Court-Administered Estate Procedure

For estates settled through probate court, under state small estate provisions, or with treasury securities exceeding $100,000, the court-appointed representative handles the bonds. For open estates, use FS Form 1522 to redeem bonds to the estate, or FS Form 1455 to distribute to heirs (heirs then submit FS Form 1522 for redemption or FS Form 4000 for reissuance). For closed estates or small estates settled under state law, use FS Form 5394. Treasury cannot return submitted legal evidence -- send legible copies with visible stamps or seals.

Forms

FS Form 5336Disposition of Treasury Securities Belonging to a Decedent's Estate Being Settled Without Administration

A voluntary representative (surviving spouse, blood relative, or next of kin) files this to claim or distribute a decedent's savings bonds when the estate is not court-administered and total treasury securities are $100,000 or less.

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FS Form 1455Request by Fiduciary for Distribution of United States Treasury Securities

A court-appointed executor or administrator files this to distribute a decedent's treasury securities to the heirs lawfully entitled to them.

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FS Form 1522Special Form of Request for Payment of United States Savings and Retirement Securities Where Use of a Detached Request Is Authorized

The estate or an entitled heir files this to redeem (cash) a decedent's savings bonds for payment by direct deposit.

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FS Form 4000Request To Reissue United States Savings Bonds

An entitled heir files this to have a decedent's EE or I savings bonds reissued into their own name (issued electronically in TreasuryDirect).

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FS Form 1048Claim for Lost, Stolen, or Destroyed United States Savings Bonds

An executor, administrator, or entitled heir files this to claim a decedent's savings bonds that have been lost, stolen, or destroyed.

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When someone dies

Notifying the Treasury after a death

6-step process, 8 required documents, and 3 survivor benefits.

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Frequently asked questions

Not always. If you are a named co-owner or beneficiary, the bond transfers directly to you without probate. If no one is named and total treasury securities are $100,000 or less, you can use the non-administered estate procedure (FS Form 5336) without court involvement.

Per TreasuryDirect Customer Service: cashing paper bonds takes 3 or more months; non-personal transactions (such as estates and businesses) take 5 or more months; paper bond conversion takes 9 or more months; trust-related requests take 10 or more months; and locating lost bonds takes 11 or more months. Account unlocks and banking info updates take 2 or more weeks. Wait times may be longer due to volume.

Yes, but you must use FS Form 1851 (Request To Reissue United States Savings Bonds to a Personal Trust). FS Form 5336 cannot be used to distribute bonds to a trust. Trust-related transactions may take 10 months or more to process.

All Series HH bonds reached final maturity as of August 1, 2024. The only option is to redeem them. Banks are not permitted to cash HH bonds, so they must be sent directly to TreasuryDirect for payment.

No. Do not sign or endorse savings bonds before submitting them. Send unsigned bonds with the appropriate FS Form. The certifying officer at your financial institution will certify your signature on the form, not on the bond itself.