I have a new baby and people are wanting to give her savings bonds. for this they want a social sec #...i am not comfortable just giving that out. looking for feedback on how to handle.
As far as I know, and I could be wrong, if someone wants to give a federal savings bond or deposit money into a bright start plan, the social security number is required.
Rachel, there is a social security number required. however the buyer can use their own social security number. My kids have loads of bonds and we have bought loads of bonds for our godchildren and our grandchildren. I have used my own number each time I have purchased a bond. They are wonderful gifts. each of my own children were able to purchase their first cars with them.
congrats on the new baby
As the previous post said, the child's soc. sec. number is not required...the purchaser can use their own ss#. I have purchased savings bonds for my niece and nephew using thier ss#'s, but obviously my brother and sister-in-law trust me with that information.
As a little aside, someone once told my BFF that she could not use her ss# to purchase a bond, but that isn't true...you only have to read the back of the form to have that clarified immediately
your babies social security number is not needed. i have recieved bonds that have all zeros filled in for the social security number and i have other bonds that obviously have someones number but it is not my childs
If you open a www.treasurydirect.com account they can purchase electronic savings bonds for your child directly from the US Treasury Department as the name suggests. All they need is the treasury direct account number. I have recently converted our paper bonds to the Treasury Department's electronic format. I feel like an expert because I did a whole lot of paper bond conversions. It's my understanding that within the next few years the Treasury Department will be phasing out paper bonds anyhow so it will be necessary to have an electronic account if you wish to purchase/receive US savings bonds. Plus, it is a fabulous way to manage your bonds without the risk of losing the paper variety. Please feel free to PM me with questions on the treasury direct account. I just did this for my family finishing up about 3-4 wks ago. And NO, I don't work for Treasury Direct!
Congrats on your new baby girl!!
I buy bonds for my nephew and use my own SS#.
Set up an account with Bright Start and send your family/friends an email link for contributing, telling them that if they want to give something for the future, that contributing to a college fund would be the best way to go.
Back when I was a child, they didn't have college accounts for kids, so they did savings bonds. Now, family can just directly contribute to their college fund.