Two $10k bonds in different names, don't know the answer to your second question.

If I buy an Ibond today, it says the "Purchase Date" says we may have changed your purchase date to the next available business day. 5/2/2022.

Does this mean I make it in for April rates listed or do I get pushed to the May rates?

yup. the 27th was the last day

Yesterday was. I bought mine right around 5 pm and it was issued today.

It's way early, but any reason to think the November rate will fall significantly? Wouldn't think it can fall too far below the current 7.12%.

I tried buying last week for myself, my wife and 2 kids. I set up the other 3 under my account but with my wife or kid as the beneficiary.

I get an email this morning saying the three other purchases for my wife and kids are too much and they will be refunded. However, if I look at my account the funds show as being purchased.

Do you have to set up different personal accounts for each person?

john2002ag said:

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I tried buying last week for myself, my wife and 2 kids. I set up the other 3 under my account but with my wife or kid as the beneficiary.

I get an email this morning saying the three other purchases for my wife and kids are too much and they will be refunded. However, if I look at my account the funds show as being purchased.

Do you have to set up different personal accounts for each person?

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You can set up Minor Linked Account for your kids. You need to click on ManageDirect (in the top ribbon) and then on the page that takes you to, click on "Establish a Minor Linked Account". You will have to do that for each child. This is what I did for my 2 kids and it worked fine. Access to these accounts for the kids will always be through your account.
I think your wife will have to set up her own account, at least from what I've found googling the subject this morning.

john2002ag said:

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I tried buying last week for myself, my wife and 2 kids. I set up the other 3 under my account but with my wife or kid as the beneficiary.

I get an email this morning saying the three other purchases for my wife and kids are too much and they will be refunded. However, if I look at my account the funds show as being purchased.

Do you have to set up different personal accounts for each person?

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You and wife have to be different accounts. Can't speak to kids.

Can both spouses buy $10k for themselves, the other spouse and each child, or is it capped at $10k per recipient/year?

Thanks. This seems to be corroborated by other sources as well. It looks like the way to maximize investment after personal and gift limits is the trust route, business organization purchase route (and maybe the overpaying your taxes-refund route).

This is a very good link for understanding the interest rate and what principal value will be (based on issue date of your I-Bonds).

http://eyebonds.info/ibonds/home10000.html

Also helpful is understanding that your current value in Treasury Direct is less the last 3 months of interest (for I-Bonds purchased within the past 5 years). So if it looks less than what you'd expect, that's why.

For example, $10k issued 11-01-2021 will show a Current Value of $10,176 in May 2022. But really, it is $10,356.

Makes sense, it's just showing the value if you were to sell today. Kinda helpful actually.

When I bought I-Bonds via my SSN, I noticed that there was also a category to buy through a legal entity. I'm going to asks my accountant, if I can buy another $10K through a single member LLC, and will report back here.

That would mean $35K a year in I-bond purchase paying 9.6%: $10K myself, $10K wife, $5K tax refund, and $10K purchased by an LLC.

The answer is going to be yes.

You might be able to increase it even more. Create a separate LLC for you and another for your wife and create trusts for each of you as well. That would be $30,000 in contributions apiece, plus the $5k refund, for a total of $65K per year.

I haven't tried that so don't know if it will work. Consider running that scenario by your accountant and let us know what he/she says.

What if your single member LLC does not have its own EIN? In other words, I have my own LLC but I just file my taxes on my personal Schedule C.

YouBet said:

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What if your single member LLC does not have its own EIN? In other words, I have my own LLC but I just file my taxes on my personal Schedule C.

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To answer my own question, yes I can do this. However, it looks like the funding of the I bond under your LLC or whatever other entity it is needs to be linked to a separate bank account than the one you used to fund your personal I bond.

https://thefinancebuff.com/buy-i-bonds-business-sole-proprietor-llc.html

FYI -- you might technically be able to set up an iBonds account for each of your children and deposit 10,000 per year into it, but if there is ever an audit where it's found that you are still treating it like *your* money and not your kids' money, you could be liable for penalties.

I'm not a tax CPA but that does not sound right, seems like you would just apply the kiddie tax rules like any other investment income a minor gets.

Right, but in theory any UGMA/UTMA money must be spent for the benefit of the minor; until they reach 18 and then the money is theirs.

It effectively is no longer your money. It's your kid's money; and they have full right to it at age 18. And you can't (legally) just withdraw all the money before 18 and put back into your account. I doubt there are many cases of the government coming after that sort of activity... but that's not the point.

AggieMainland said:

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The answer is going to be yes.

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Answer came back a yes as you advised, thanks!

I started buying these ten years ago to hold part of my 12-month emergency savings. They're sure beating the pants off of my Ally interest rate these days.

where is a link to buy one of these bad boys... I'm ready

any other crocodile licks that I can send to the moon for 9%?

Never heard of these before. Thanks.

You all are referring to Series I Savings Bonds correct?