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Bonds 110: US Savings Bonds

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1.
Why was the Series I bond created?
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To provide a rate of return that keeps pace with inflation. The rate changes periodically, based on inflation.
2.
One advantage of savings bonds is _______.
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The small minimum purchase required. You can buy savings bonds in amounts as low as $25.
3.
You can replace a lost savings bond by sending the appropriate form to _______.
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The US Bureau of Public Debt. If you lose a savings bond, you can request Form PDF 1048 from a participating bank, credit union, or Federal Reserve bank, complete it, and return it to the Division of Transactions and Rulings of the US Bureau of Public Debt.
4.
You can purchase a maximum of $10,000 in series EE bonds in a single calendar year.
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True. You may buy up to a face value maximum of $10,000 in series EE bonds annually.
5.
The tax advantages of Series EE and Series I bonds include all of the following except _______.
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No federal tax on earnings. Unless the bonds are owned by your child or special exclusions for educational expenses apply, you must pay federal taxes on the earnings of your Series EE and Series I bonds. You do not need to pay state or local taxes, however.
6.
If you redeem a Series EE savings bond that you have held for less than five years, _______.
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You will be penalized with the loss of three months' interest. This is the current penalty.