Correct.slop01 said:
You all are referring to Series I Savings Bonds correct?
I bonds
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Last: 15 days ago by Brian Earl Spilner
Purchased mid-April of this year @ 7.12%. Will I start accuring @ 9.62% or am I stuck with 7.12%?
7.12 until november, then you get the 9% the following 6mo. It lags behind, which will work out well.
Sales figures for I Bonds showed that over $6,000,000,000 in I Bonds were sold in just two months (12/21 and 1/22)
I worry that there are so many folks jumping on the bandwagon and trying to milk as much out of them that the I Bond train will disappear
Pendragon12 said:
I worry that there are so many folks jumping on the bandwagon and trying to milk as much out of them that the I Bond train will disappear
Eh, I-Bond sales are still are peanuts compared to other Treasuries if you are worried about the government discontinuing them. Probably erases the idea of increasing the $10K cap anytime soon though.Pendragon12 said:
I worry that there are so many folks jumping on the bandwagon and trying to milk as much out of them that the I Bond train will disappear
Hopefully they won't even be attractive anymore this time next year.
I added $40k to that total this morning. You're welcome.
tailgatetimer10 said:
7.12 until november, then you get the 9% the following 6mo. It lags behind, which will work out well.
I thought it was 7.12 through April, and is now 9.62 through Nov.?
This is from Treasury Direct:
"What interest will I get if I buy an I bond now?
The composite rate for I bonds issued from May 2022 through October 2022 is 9.62 percent. This rate applies for the first six months you own the bond.
Nope.. Go down to the "when does my rate change"
https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_iratesandterms.htm#change
https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_iratesandterms.htm#change
FYI for Team 57:
Shockingly, I was able to easily open a separate account with my LLC as entity even using my personal SSN, name, and address already assigned to my personal TD account.
So, can confirm that does work. For complete clarity, I now have 2 accounts:
Personal Account:
YouBet
Tied to online savings account
SSN
Home Address
LLC Account:
YouBet's LLC
Tied to checking account
SSN - same as above
Home Address - same as above
Shockingly, I was able to easily open a separate account with my LLC as entity even using my personal SSN, name, and address already assigned to my personal TD account.
So, can confirm that does work. For complete clarity, I now have 2 accounts:
Personal Account:
YouBet
Tied to online savings account
SSN
Home Address
LLC Account:
YouBet's LLC
Tied to checking account
SSN - same as above
Home Address - same as above
If the LLC is a partnership with another individual, can I purchase the $10k via the LLC?
I would assume so, but does the purchase of the bonds (and/or the cap gains) affect the tax filing for the LLC in any way, thus affecting the other partner?
Probably a dumb Q, but IRS makes me cross-eyed.
I would assume so, but does the purchase of the bonds (and/or the cap gains) affect the tax filing for the LLC in any way, thus affecting the other partner?
Probably a dumb Q, but IRS makes me cross-eyed.
Yes, but there are risks. See article i posted on page 2.TxAger said:
If the LLC is a partnership with another individual, can I purchase the $10k via the LLC?
I would assume so, but does the purchase of the bonds (and/or the cap gains) affect the tax filing for the LLC in any way, thus affecting the other partner?
Probably a dumb Q, but IRS makes me cross-eyed.
Well I really screwed this one up. While creating my account, I accidentally put a wrong digit in while putting in my banking info. Treasury direct will not allow you to add/edit/delete banking info unless you mail in a form that's been signed and stamped at a financial institution. Which turns into even more of a pain since I'm trying to do this through an Ally account. You'd think since the account isn't valid it would've been deleted and they'd let you add another, but that's not the case. Anyone have any ideas? I don't expect I could just make a new treasury direct account since it's linked to your social. I tried to call treasury direct and talk to them but it's a 2+hour wait. Additionally the recording mentioned it's currently taking about 15 weeks to process changes mailed in.
Man, that sounds like an absolute pain. I bank with Schwab so I sympathize.
McGibblets said:
Well I really screwed this one up. While creating my account, I accidentally put a wrong digit in while putting in my banking info. Treasury direct will not allow you to add/edit/delete banking info unless you mail in a form that's been signed and stamped at a financial institution. Which turns into even more of a pain since I'm trying to do this through an Ally account. You'd think since the account isn't valid it would've been deleted and they'd let you add another, but that's not the case. Anyone have any ideas? I don't expect I could just make a new treasury direct account since it's linked to your social. I tried to call treasury direct and talk to them but it's a 2+hour wait. Additionally the recording mentioned it's currently taking about 15 weeks to process changes mailed in.
Frustrating that the same government that can send out billions in fraudulent or mistaken COVID relief checks and approved PPP loans doesn't have a more efficient way to correct honest mistakes.
I'm having to do this same form for a different reason and I don't think there is any other way around it. I was unable to open an account for my wife for some reason. Was denied and sent that form that requires the special stamp you can only get from a financial institution.McGibblets said:
Well I really screwed this one up. While creating my account, I accidentally put a wrong digit in while putting in my banking info. Treasury direct will not allow you to add/edit/delete banking info unless you mail in a form that's been signed and stamped at a financial institution. Which turns into even more of a pain since I'm trying to do this through an Ally account. You'd think since the account isn't valid it would've been deleted and they'd let you add another, but that's not the case. Anyone have any ideas? I don't expect I could just make a new treasury direct account since it's linked to your social. I tried to call treasury direct and talk to them but it's a 2+hour wait. Additionally the recording mentioned it's currently taking about 15 weeks to process changes mailed in.
Ridiculous but whatevs.
Probably easier to open a LLC, get an EIN, and buy the I-bond through that entity. That would only take a week or so.
You don't even have to get a separate EIN. You can get an LLC and the only difference is that you have to fund it from a separate bank account than your first I-bond account.LostInLA07 said:
Probably easier to open a LLC, get an EIN, and buy the I-bond through that entity. That would only take a week or so.
Is the special stamp referred to a "medallion signature guarantee"? Though not common most branch office banks will have someone with this stamp. You trick is finding a bank who is comfortable verifying your identity, which goes more smoothly when you are an account holder.
You can google to find a bank branch near you or Ally may have a process and relationship to achieve this service.
You can google to find a bank branch near you or Ally may have a process and relationship to achieve this service.
fka ftc said:
Is the special stamp referred to a "medallion signature guarantee"? Though not common most branch office banks will have someone with this stamp. You trick is finding a bank who is comfortable verifying your identity, which goes more smoothly when you are an account holder.
You can google to find a bank branch near you or Ally may have a process and relationship to achieve this service.
Believe that's it. I had to call the local Fidelity brick and mortar store to confirm if they would do it since most of our money is with them. Guy did have to ask around because it's not too common a procedure I guess.
This was exactly my plan. Hopefully I can go through fidelity since I use them for all my investments, add them and my ally account and get rid of the incorrect number
McGibblets said:
This was exactly my plan. Hopefully I can go through fidelity since I use them for all my investments, add them and my ally account and get rid of the incorrect number
Should be able to. They told me it's pretty quick if you are a customer. Don't think they will do it otherwise.
Mailed in my forms with all the stamps and everything three and a half weeks ago. Just received an email this morning saying they received it and I should allow an additional 13 weeks for it to be processed
Do you know if you get the interest rate at the time you submit and they receive or after they process? Would be maddening if you lose out on a rate because they are inept.McGibblets said:
Mailed in my forms with all the stamps and everything three and a half weeks ago. Just received an email this morning saying they received it and I should allow an additional 13 weeks for it to be processed
Found this video that does a great job explaining I-bonds, how the interest is calculated and when you'll start seeing the interest earned.
13 weeks. Wow.
Just form a LLC and be done with it next week.
Just form a LLC and be done with it next week.
Mine was just approved, took about 3.5 weeks after I received that 13 week email.
That was super informative. Thanks for posting.
Has anyone tried redeeming an i bond through treasurydirect? I'm curious to know how long it takes for the money to actually hit your bank after they're redeemed.
“There is no red.
There is no blue.
There is the state.
And there is you.”
“As government expands, Liberty contracts” - R. Reagan
There is no blue.
There is the state.
And there is you.”
“As government expands, Liberty contracts” - R. Reagan
Treasury Direct is the only site I've ever seen where you have to click your password in on the on-screen keyboard, as opposed to typing it in on a regular keyboard.
A security mechanism I suppose. Way out there compared to anything else I've ever seen.
A security mechanism I suppose. Way out there compared to anything else I've ever seen.
Yeah, it's kind of wild. And I made it especially hard on myself because I use randomly generated PWs.bco2003 said:
Treasury Direct is the only site I've ever seen where you have to click your password in on the on-screen password, as opposed to typing it in on a regular keyboard.
A security mechanism I suppose. Way out there compared to anything else I've ever seen.
It's also strange because when setting up your password, you can use capital letters, but when typing it in this odd fashion, it isn't case-sensitive.
Yes that is a pain in the $#%@*!
Just another great example of our outstanding govt in action!
Just another great example of our outstanding govt in action!
Well I finally got the email this morning that they had completed the changes in my account number. Took right on 3 months for the whole process. Lesson learned. Don't screw up on any government documentation because they're inept and it'll take a ton of time and cause all sorts of frustration
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