What Happens If You Lose A Savings Bond?

If you have been in possession of a savings bond, you have probably wondered what happens if you lose a savings bond. Fortunately, recovering a lost bond is an easy and relatively painless process. The U.S. Treasury Department has outlined procedures to get duplicates should you lose a savings bond.

First, make sure you cannot find your lost savings bond. Recovering a bond will take a small amount of paperwork and time – if a quick search will find your bond, this is your best option.

If you cannot find your bond after a simple search, you will need to gather up as much information about the bond as possible. At a minimum you will need your name and social security number; if the savings bond was a gift, the social security number of the giver may be the one that is associated with the bond.

Other information that will be helpful, though not essential, is the issue date of the bond, the serial number, and the denomination. If you have the serial number, the bond is guaranteed to be reissued or redeemed; otherwise, the more information you provide the higher the likelihood a reissue/redemption will be possible.

Once you have gathered all the information you can, fill out Public Debt Form 1048. This form can be downloaded from the U.S. Treasury Department’s website. A mailed hard copy of that form can also be requested from that site. Once filled out, the form must be notarized — this can be done at most local financial institutions for a small fee. Finally, mail the completed form to the address as indicated on Public Debt Form 1098.

Keep in mind when you fill out Public Debt Form 1098 that you can opt to have the savings bond reissued or redeemed into a bank account of your choice.

Once the Treasury Department receives your completed form, it will conduct a search of its database to locate a record of the savings bond. If the savings bond is found, it will be reissued (with the original issue date) or redeemed as you have instructed.

If you are prone to losing savings bonds, you may want to consider converting your paper savings bonds to electronic bonds at the Department of Treasury. In an online account, you will not need to worry about lost or stolen bonds.

References:

EE/E Savings Bonds FAQ

Treasury Direct

Form 1048 – Claim for Lost Bond

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