Reply to F---ing I-Bonds

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]For those of you doing accounts for the kids, is it still your money, or are you basically ceding $20k to your kids?[/quote]

Legally, it's ceding money to them although you control it as long as they are minors.

If you don't want to actually give them money, just don't tell them.  You create the account in their name, control the userid/login, etc and when it's time to move the money over to yourself, just do it (as long as you stay within the gift tax limits).  They would be none the wiser.[/quote]

That would be stealing from your kids. If you opened the account in their name, it’s theirs and you are the custodian with a legal responsibility to manage it for them. You could use it for their benefit, like school or camp, but you can’t just buy yourself a car with your kids’ money.[/quote]

Not when they are minors and you are their parents and you funded the account.[/quote]

You are wrong about this but maybe more importantly savings bonds are registered securities which means you need the gov’t’s approval to transfer them to anyone so it may not be as easy as you think to move money around. [/quote]

You can't transfer I bonds, but you can sell them and transfer the money.  No one cares about that.[/quote]

Yes, you can.  However, that counts against your investment cap for the year in which you transfer.

From their FAQ page:

Transferring Securities

Are EE and I Bonds transferable?
Yes. The owner can transfer EE and I Bonds to another person with a TreasuryDirect account; however, you must wait five business days after the purchase date to transfer the bonds.

Are there any fees for transferring EE and I Bonds?
No. We don't charge any fees for transferring EE and I Bonds.

How do I transfer a savings bond?
A savings bond may be transferred either in full or in part to another TreasuryDirect account. See How do I transfer savings bonds from my TreasuryDirect account to another TreasuryDirect account?.

If I transfer savings bonds to another TreasuryDirect customer, how does it affect the recipient's purchase limitation?
If you transfer savings bonds to another customer, the amount of the transfer is applied toward the annual purchase limitation for each savings bond type in the year the transfer occurs. [/quote]

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