Buy US Savings Bonds

• Residents of Canada or Mexico who work in the United Stated can buy United States savings bonds, but only if the US savings bonds are purchased on a payroll deduction plan and the owner of the US saving bonds provides a social security account number.

In most cases, only the persons listed above can buy savings bonds of the United States. Canadians can also buy Canada savings bonds. A person not listed as qualifying to buy United States savings bonds above can be designated as co-owner or beneficiary of the US saving bond whether the US saving bond is the original issue or a re-issue of the US saving bond. This is true unless that person is a resident of an area where the Treasury restricts or regulates the delivery of checks drawn on US funds. Your regional Federal Reserves Bank (FRB) can give you the current information on this.

How much US saving bonds can I buy? What is the purchase limitation of a US saving bond?

You cannot keep buying US savings bonds. There is a limit of how much US savings bonds you can buy. The US saving bond purchase limitations are usually per annum.

If you buy savings bonds in the name of yourself or either your wife or husband, you may double your US saving bonds purchase limitation per year. In another word, you can combine the US savings bond purchase limitation for your spouse and yourself. You can also buy US savings bonds with your son or daughter as co-owner and use his or her US savings bond purchase limitation. You can double or triple your US saving bond limitation that way.

Can a US saving bond co-owner cash the US saving bond without my consent?

Yes. A co owner of a US saving bond can cash the US saving bond any time without having to have the consent of the US saving bond owner. So, if you are trying to raise your US savings bond yearly purchase limit by adding your family member as a co-owner, give careful consideration to whom you name as co owner of your US savings bonds.