How to Find Lost Savings Bonds

If you’re wondering how to find lost savings bonds, you’re not alone. Luckily, reclaiming them can be relatively straightforward if you know where to look. Finding lost savings bonds may require you to use the Treasury Hunt tool, contact the U.S. Department of the Treasury or potentially hire a professional to help. Rediscovering these hidden assets can provide a welcome boost to your financial well-being.

If you need help selecting a mix of stocks, bonds and other assets that aligns with your needs, connect with a financial advisor today.

How Savings Bonds Go Missing

Savings bonds can go missing for several reasons. Due to the long-term nature of these investments, you may simply forget that you own savings bonds. They can be filed and forgotten, especially if they were purchased many years ago.

Another reason is a change of address. If the owner moves and fails to update their contact information with the U.S. Department of the Treasury, any correspondence about the bonds might be lost.

Similarly, if the bonds are paper-based, they might get lost in the shuffle during a move. This situation is further complicated if the bonds were never converted from paper to electronic form, making them harder to track.

Inheritance and estate planning issues can also contribute to missing savings bonds. If the original owner passes away without properly documenting the existence of the bonds, their heirs might be unaware of their existence.

Lastly, records might be lost due to disasters such as fires or floods. In such cases, the physical bonds may be destroyed, or the documentation proving ownership can be lost, making it difficult to claim the investment.

How to Find Lost Savings Bonds

Finding lost savings bonds may feel daunting, but with the right steps, you can successfully track them down. Here’s a guide to help you recover them:

Gather Necessary Information

The first step to locating lost savings bonds is to comb through personal records like old tax returns, bank statements and any documents where the bond might have been noted. It’s a good practice to check family records as well, especially if the bonds were gifts.

Use the Treasury Hunt Tool

The U.S. Department of the Treasury offers an online tool called Treasury Hunt, which can help you locate savings bonds. By entering your Social Security number, you can search for bonds that have reached maturity but remain unclaimed. This tool is particularly useful for bonds issued since 1974.

Submit FS Form 1048

If you cannot find your bonds using Treasury Hunt, or if your bonds are lost, stolen or destroyed, you can submit FS Form 1048 to request a replacement or payment. Download the FS Form 1048 from the TreasuryDirect website and complete it with as much detail as possible. Sign the form and get it certified according to the instructions. Lastly, mail the completed form to the address provided on the form.

Utilize the Death Records Search

In cases where the bondholder has passed away, it may be helpful to search through death records and probate documents. Executors of estates should check these records as part of the estate settlement process. This can help in locating any bonds that were owned by the deceased and may not have been transferred to heirs.

Engage with Financial Institutions

Finding lost savings bonds can boost the value of your portfolio.

Financial institutions such as banks and credit unions may have records of savings bond purchases. Contacting these institutions where bonds may have been bought or where accounts were held can yield valuable information. They may also guide you on additional steps to take if bonds were lost.

Check for Bonds in Escheatment

In some cases, unclaimed savings bonds may be turned over to state governments under escheatment laws. To check for these, visit your state’s unclaimed property office website and use their search tool to look for any bonds in your name. Follow the state’s procedure for claiming the property if bonds are found.

Contact the TreasuryDirect Office

If your search through the above methods is unsuccessful, consider contacting the TreasuryDirect office directly. Provide them with all information you’ve gathered and inquire about your bonds. You can reach TreasuryDirect customer service at:

Phone: 844-284-2676
Email: Contact Form

Use a Professional Service

If these steps do not yield results, it may be worth hiring a professional service that specializes in locating lost savings bonds. These services have expertise in navigating the various databases and procedures, and they can often find bonds that individuals might miss.

Preventing Future Loss of Savings Bonds

Once you’ve successfully located your savings bonds, take the following steps to prevent them from being lost again:

Convert paper bonds to electronic: Use the TreasuryDirect system to convert any remaining paper bonds to electronic form, which are easier to manage and track.
Keep records updated: Regularly update your contact information and keep thorough records of all bond purchases and redemptions.
Inform beneficiaries: Make sure that your beneficiaries are aware of the bonds and where to find them.

What to Do If You Inherit Savings Bonds

If you’ve inherited savings bonds from a family member or loved one, you might not know where to start. Inheriting bonds is a common reason they go unclaimed, but following the right steps can help you claim and redeem them properly.

1. Verify ownership and gather documents

Start by confirming you’re the rightful heir. If you’re named as a co-owner or payable-on-death beneficiary on the bond, you can generally claim it directly. Otherwise, you may need legal documentation, such as a death certificate, probate court order, or proof of executor status, to establish your right to the bond.

2. Handle bonds in probate or trusts

If the bonds are part of the deceased’s estate and not directly payable to you, they may need to pass through probate. The executor of the estate can claim and distribute them as directed by the will or state law. If the bonds were held in a trust, the trustee can manage and distribute them according to the trust agreement.

3. Claim or reissue the bonds

Once you’ve gathered the required documentation, you can submit FS Form 5336 (for multiple heirs) or FS Form 5396 (if payable on death) to the U.S. Treasury to have the bonds reissued or redeemed. Instructions and forms are available on the TreasuryDirect website.

4. Understand the tax implications

Interest earned on inherited savings bonds is taxable at the federal level when the bonds are redeemed or mature. You can choose to report all accrued interest in the year of the original owner’s death, or spread it out as you cash the bonds. In some cases, the estate may pay the tax if the executor elects to include the interest on the estate’s tax return.

If you’re unsure about the process, consider consulting with an estate attorney or tax professional to ensure you handle everything correctly and maximize your inheritance.

Bottom Line

Whether you received them as gifts or purchased them years ago, finding lost savings bonds can help you recover valuable funds. By using tools like Treasury Hunt, submitting the appropriate forms, and contacting the necessary offices, you can most likely recover your lost investments. With diligence and proactive steps, your savings bonds can provide the financial stability and peace of mind you originally intended.

Tips for Investing in Bonds

The credit quality of a bond issuer is a critical factor in bond investing. Ratings agencies like Moody’s, S&P and Fitch assess the creditworthiness of bond issuers and rate them according to levels of risk. Bonds with higher ratings (AAA to BBB) are considered investment-grade and have lower default risk, while those with lower ratings (BB and below) are high-yield or junk bonds and carry higher risk. Carefully review these ratings and consider diversifying your bond portfolio to balance risk and return.
A financial advisor can help you integrate bonds into your portfolio. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.