Fiscal Service Aids Savings Bonds Owners in Michigan Affected by Severe Storms and Flooding; One-year minimum holding period waived
FOR IMMEDIATE RELEASE
July 29, 2020
WASHINGTON, D.C. -- The U.S. Department of the Treasury, Bureau of the Fiscal Service, announced it would expedite replacement of lost or destroyed paper U.S. Savings Bonds, and waive the normal one-year minimum holding period for savings bonds to assist Michigan survivors of severe storms and flooding in the counties of Arenac, Gladwin, Iosco, Midland and Saginaw during the period of May 16-22, 2020.
A TreasuryDirect account holder in, or evacuated from, one of the affected counties can request a waiver of the minimum one-year holding period for savings bonds by sending an e-mail from within their account, briefly explaining the circumstances. Local financial institutions are permitted to redeem paper savings bonds that are less than one-year old for bond owners affected by the disaster. Many financial institutions serve as paying agents for savings bonds.
If paper bonds were lost or destroyed, bond owners can complete a downloadable form - FS Form 1048 - available on Fiscal Service′s website, www.treasurydirect.gov. Bond owners should include as much information as possible about the lost bonds on the form. Claim applications should be signed and signatures should be certified as indicated in the form's instructions. Completed forms can be mailed to the address shown on the form.
To help expedite the processing of claims, write the word "DISASTER" on the front of the envelope. For an updated list of areas affected, visit FEMA's website at www.fema.gov. Assistance for individuals can be found using addresses at www.disasterassistance.gov.