The instructions below are only relevant to those who participated in the Series I bond gifting strategy that I wrote about last year.
https://www.thinkdifferentwealth.com/series-i-savings-bonds-at-9-6-and-advanced-gift-box-strategy/
As a reminder, the gifting strategy was a way to borrow from future year limits and purchase additional amounts of Series I bonds. The additional bonds sit in a gift account until delivered. You are allowed to deliver $10,000 of bonds each calendar year (this uses up your $10K annual limit). Since it is now 2023, you can have each spouse deliver $10k in bonds to the other.
To deliver bonds, follow the instructions below.
- Sign into your Treasury Direct account.
- Click on “Gift Box” on the top navigation bar. You will see all the gifting notes awaiting delivery.
- Choose one of the notes to deliver and click “Submit”. You typically want to deliver the oldest one first (which is usually the note at the very bottom of the list).
- Click “Deliver” on the next screen
- Choose “Deliver full amount” and enter the recipient’s (spouse) TreasuryDirect account number (this account number consists of a letter followed by nine numbers) and click “Submit”. (The amount after “Deliver full amount” might be a few hundred dollars more than $10k, this still okay as the principal is $10k and the extra reflects earned interest).
- Click “Submit” again on the Delivery Review page.
- You should see a confirmation page. Congratulations! The note has been delivered and moved from your Gift Box section directly into the recipient’s account. (The gifted note will now be included among the other owned notes of the recipient’s Treasury Direct account).
- You should now repeat the process by logging into your spouse’s account and gifting one of their “Gift Box” notes to you.
