Getting Money From the Government
Seeing If You Have Matured Bonds That Have Not Been Redeemed
Nov 3, 2009
Quite a few individuals have savings bonds that they have forgotten about. Perhaps your grandmother had some bonds opened up years ago. Hopefully your parents took out some bonds for you when you were a child or maybe you yourself took out some and have just forgotten about them. Misplacing or forgetting about bonds can be done quite easily. Even though all these scenarios may ring true for some, there are ways to recover these lost assets.
Cash From The Federal Government
To see whether or not one has matured bonds that have not been redeemed there is an amazing website called unclaimed assets . According to information from 2005 there were $12.5 billion dollars of unclaimed savings bonds. Currently, in 2009 the US Savings Bond Search page records state that the amount is well over $15 billion. It may sound a bit crazy that money is just sitting there to be claimed, but this is the reality.
Searching For Unclaimed Assets
Even though the money is out there to be claimed, one must put the work in to search for it. It is suggested that one shops around for sites that do not charge a search fee. The savings bond website is just one of the free sites available for locating and receiving unclaimed assets such as bonds. On this site there will be three columns: individuals, institutions, and government. Click on individuals and check to see if you are the owner of any matured savings bonds.
Key Points for Searching the Savings Bonds Website
- Saving bonds that have been returned to the United States Treasury as undeliverable from 1996 can be found by using this system.
- Many records for Treasury notes and bonds that have been registered can be searched through this system.
- Importantly, one must submit a Form PD F 1048 to claim lost, stolen or destroyed United States savings bonds with approximate dates of purchase, names of the bond's owners, and other information that may be needed.
Time limit
Even if the search engine does not go back as far as you may like, these are still wonderful sites to play around and search on. There are also some fabulous tools that are offered on these sites. They offer bond calculators and wizards. With the economy the way it is now in 2009, individuals are looking for stability in his or her money and savings bonds can provide just that. If you want to see how savings bonds can quickly add up, punch in some numbers into the calculators and watch the magic unfold.
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