Savings Bonds and Treasury Securities After a Death

Savings bonds are easy to forget and easy to get wrong after a death. The rules depend on how each bond is titled, whether there’s a surviving co-owner or beneficiary, and how the estate is being handled. This guide follows TreasuryDirect’s own instructions for paper bonds. Forms and thresholds can change, so confirm on TreasuryDirect.gov before you file anything. For electronic bonds, see the last section.

Step 1: How is the bond titled?

Look at the registration printed on each bond. TreasuryDirect describes the situations this way:

• A surviving co-owner or a named beneficiary. The bond goes to that person, outside the estate. A surviving beneficiary may redeem the bond using normal identification procedures with a copy of the death certificate, according to the Federal Reserve Banks’ FAQ; if the bond can’t be cashed locally, the form to request payment is FS Form 1522
• Both people named on the bond have died. The Federal Reserve FAQ says a bond can be redeemed to the estate of the last decedent on the bond; keep both death certificates and a copy of the letters of appointment for the representative
• No co-owner or beneficiary (a sole owner). Then it depends on the estate, below

Step 2: Is there a court-appointed representative?

If the estate has, or had, a court-appointed representative (an executor or administrator), TreasuryDirect’s court-appointed representatives page gives two options for paper bonds in an open estate:

• Redeem the bonds to the estate. Submit FS Form 1522 with your certified signature and title, the unsigned bonds, and a death certificate for each deceased person on the bonds. TreasuryDirect says a local bank or other financial institution may be willing to cash E, EE, or I bonds for a court-appointed representative of an open estate
• Distribute the bonds to specific heirs. Submit FS Form 1455, with your certified signature and title, the unsigned bonds, and death certificates. Each heir then completes paperwork: FS Form 1522 to redeem, or FS Form 4000 to reissue non-matured bonds. TreasuryDirect says reissued bonds will be reissued electronically, which requires the heir to open a TreasuryDirect account, and that matured bonds must be redeemed. A bond’s entire amount must go to one owner as directed by the representative

TreasuryDirect also notes that all Series HH savings bonds have reached final maturity, so they can’t be reissued and must be redeemed.

If a court must administer the estate, this is the path. TreasuryDirect says that if an estate contains Treasury securities, including savings bonds, totaling more than $100,000 in redemption value as of the date of death, a court must administer the estate.

Step 3: No court-appointed representative? The $100,000 path

TreasuryDirect’s non-administered estates page says an estate is “non-administered” for savings bond purposes if all of these are true: there’s no court-appointed representative and no surviving co-owner or beneficiary named on the bonds; the estate has not been and won’t be settled under special provisions of state law relating to small estates; and the decedent’s savings bonds and other Treasury securities total $100,000 or less in redemption value as of the date of death.

In that case, a voluntary representative handles the bonds using FS Form 5336. The Federal Reserve FAQ describes it as the form for a decedent’s estate being settled without administration. TreasuryDirect says that with a non-administered estate you can:

• Cash the bonds with payment to you as the voluntary representative (FS Form 5336 plus the unsigned bonds and a death certificate)
• Distribute the bonds to people entitled to them (FS Form 5336). Each person then uses FS Form 1522 to cash a bond, or FS Form 4000 to keep an EE or I bond (reissued), or FS Form 4000 plus FS Form 5396 to keep an HH bond. Savings bonds can’t be split

If the estate is being settled under a state small-estate procedure, TreasuryDirect says to follow its court-appointed representative instructions instead, and the Treasury has separate paperwork (referenced as FS Form 5394) for that situation.

What documents do I send?

Across these paths, TreasuryDirect’s instructions call for the unsigned bonds, a death certificate for each deceased person on the bonds, the correct form(s) with any certified signature the form requires, and for estates, proof of your authority such as letters of appointment. Don’t sign the bonds. Keep copies of everything.

What if I can’t find the bonds?

Use FS Form 1048, TreasuryDirect’s claim for lost, stolen, or destroyed bonds. Before filing, look hard: bonds turn up in safe deposit boxes, file cabinets, and old envelopes. See old bank accounts and safe deposit boxes.

How do I search for unredeemed or matured bonds now?

Treasury changed this recently. TreasuryDirect says the Treasury Hunt tool was no longer available as of September 30, 2025, under the SECURE Act 2.0. Inquiries about unclaimed Treasury securities are now handled through individual states’ unclaimed property programs, which can securely access Treasury’s database of unredeemed or matured securities and help with claims, including those that may have been transferred to the state. TreasuryDirect points to unclaimed.org, which is run by the National Association of Unclaimed Property Administrators, to find your state’s office. Have the owner’s identifying information ready when you contact the office. See unclaimed property after a death.

What about electronic bonds and TreasuryDirect accounts?

TreasuryDirect says that if the person who died had an online TreasuryDirect account, you should contact TreasuryDirect, which has a separate process for electronic bonds. Don’t try to log in to the person’s account.

What about taxes?

Savings bond interest can have tax consequences for the estate or the heirs. A law firm’s summary points to IRS Publications 550 and 17 for savings bond interest, and a tax professional can explain how it applies to the final return and to heirs. See taxes and benefits after a death.

What are common mistakes?

• Signing the bonds before sending them in
• Assuming a will controls a bond that has a named co-owner or beneficiary, who takes it regardless
• Using FS Form 5336 when the total exceeds $100,000 or when a court-appointed representative exists
• Forgetting other Treasury securities, which count toward the $100,000 total

For basis and taxes on inherited assets, see step-up in basis and do you pay taxes on an inheritance?.

For a step-by-step checklist with links to each official search, use our interactive Find the Money checklist.

This is general educational information, not legal or tax advice. TreasuryDirect’s rules, forms, and the $100,000 threshold can change; confirm on TreasuryDirect.gov and ask a probate attorney or tax professional about your situation.