Can I buy savings bonds for my grandchildren without an account?


Q. How may I start purchasing savings bonds for my grandchildren on a regular basis without setting up an account?
— Granny

A. We love to hear when grandparents save for their grandchildrens’ futures.

You didn’t specifically say which kind of savings bonds, but with higher inflation, you may want to consider Series I bonds.

With I Bonds, you earn both a fixed rate of interest and a rate that changes with inflation. The inflation rate is set twice a year and holds for six months. .

There are several ways you can make the purchase.

You can buy a Series I bond when you file your taxes and request that a portion of your tax refund be paid in a paper savings bond, said Jody D’Agostini, a certified financial planner with The Falcon Financial Group in Morristown.

“You will need to provide the full legal name of your grandchild as the owner of the bond and link it to the person (parent) who is financially responsible for them,” she said. “You will use tax form 8888.”

Once the child turns age 18, you can link the purchase to their own Treasury Direct account,” D’Agostini said.

The paper savings bonds will be mailed to you, but you can then give them to your grandchild, she said.

Alternatively, you can log into or open an account at Treasury Direct.

“You can then purchase either Series EE or I Bonds in denominations from $25 to $10,000 and deliver it to the grandchild’s Treasury Direct account,” she said. “You buy the bond under the `Gift Box’ using the child’s Social Security number.”

Series EE bonds are purchased for half their face value and are worth their full amount after 20 years, she said. Series I bonds are sold at their face value and mature after 30 years, she said.

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This story was originally published on Oct. 16, 2023. presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.