Changing a Savings Bond’s owner

Friday, February 10th, 2006
Categorized as: Savings Bond registration changes

I have given my granddaughter a bond a month since 1988. I am the owner and she is the beneficiary. Now I want to drop my name from those bonds so she may be the sole owner. How is that done?

Tom’s response

Because of the way the bonds are registered, there’s no legal way for you to get out of paying the income tax on the interest these bonds have earned.

My recommendation would be for you to cash the bonds, hold back enough money to pay the income tax, and then either give your granddaughter the money or buy her new Savings Bonds that are in her name alone.

My book has a lot more details on this kind of transaction, including how to have the ownership changed on the existing bonds and why that causes problems for people.

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FDIC Insured Certificates of Deposit can pay 1 or 2% more than savings bonds when held for a similar length of time. See top CD Rates Below:


On January 8th, 2009 E Marie Witt said:

How can I cancel a Series EE Bond that I purchased in 11/2008? The person I gave the bond to does not want it.

On January 9th, 2009 Tom Adams said:

E Marie – the answer to your question is here.

Tom Adams

On January 17th, 2009 RYAN P said:


On February 24th, 2009 Robert Wieczorek said:

My uncle had 15 E bonds dated from Jan 56 to Jul 57, he died stating in a will that my step mother would inherit them, she died recently and I found them, she also had a will stating that I would inherit every thing she had, How do I go about cashing theses in.

On February 25th, 2009 Tom Adams said:

Robert – What you need to do depends on whether the wills were probated or not. See this post.

Tom Adams

On May 5th, 2010 J Ford said:

I purchased a Savings Bond for my new granddaughter before she got a SSN. She is the co-owner. I now want my name off the bond and for her to be the owner with her mother. Can this be done?

On May 5th, 2010 Tom Adams said:

J. – The text at the top of this page gives my best recommendation of how to accomplish this. Of course, you would have to wait a year since Savings Bonds can’t be cashed until their first anniversary.

You can also use this form, but I’d avoid that.

Tom Adams

Comments Closed

June 1, 2010

After six years, over 400 posts, 3,680 real comments, and over 90,000 spam comments (thank you, Akismet, for making managing a blog with comments possible), I am closing public comments on I will contine to update the main articles on this site, but not the comments.

Virtually every question about Savings Bonds has been asked and answered on this site multiple times. Use the search feature (see the box in the gray area near the top of this page) or the detailed menu on the lower part of the home page to find the information you're looking for. If you have a copy of Savings Bond Advisor, you can ask me a question here.

Tom Adams

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