Can I cash bonds registered in my child's name if: (1) I'm not named as co-owner, or (2) I'm listed as the beneficiary and my child is living?
The bond must be redeemed through their own account. If the child does not have an account one must be opened prior to the bond being redeemed. The bond cannot be redeemed through the parent's account. If the child is too young to sign the request for payment and understand the transaction, payment can be made to either parent with whom the minor lives (or to whom legal custody has been granted).
The request would be made on the back of the bond as follows:
"I certify that I am the parent of Jane Doe with whom Jane Doe resides (or to whom legal custody has been granted). He/She is ___ years old and is not of sufficient understanding to make this request. John Doe on behalf of Jane Doe"
