Promoting Redemption of Savings Bonds
Headline: Treasury Must Digitize and Reunite Unredeemed Savings Bonds
What it does: The Department must digitize savings bond records, add them to Treasury Hunt, study redemption barriers, work with States, and report on actions.
- Makes it easier for individuals to find and redeem matured savings bonds.
- Could return part of about $27 billion in unredeemed bonds to rightful owners.
- Adds new online searches and reporting steps for the Treasury and state offices.
Summary
This order directs the Department of the Treasury to digitize and make searchable records for matured, unredeemed savings bonds and to add that information to the Treasury Hunt online tool.
It requires the Department to complete a pilot project, incorporate digitized data, study why people fail to redeem bonds, work with States, and publish a public report on these efforts.
The goal is to help millions of Americans locate and redeem long-matured savings bonds—estimated at over 75 million bonds worth about $27 billion—so owners receive money they are legally owed.
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