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Question

Can I Series bond owned by LLC be used for education?

Forum|Forum|4 years ago
January 27, 2022
1 reply
0 views

Hi, all.

Can an I Series bond owned by LLC be transferred to a 529 account? The 8815 form states that it must be used for the issue name, spouse or dependent. If the LLC is my single member LLC, does that count? If not, and i transfer the bond to myself, will the issue name be updated to me? Thanks

Employee

Q. Can I Series bond owned by LLC be used for education?

A. No. It must be in your name.

Q. Can an I Series bond owned by LLC be transferred to a 529 account?

A. No. Even though a rollover to a 529 plan counts as "education", you still have the same problem, it's not in your name.

Q. If I transfer the bond to myself, will the issue name be updated to me?

A. No, not for the education exclusion. The rules specifically require the original issue to be in your name.

@Hal_Al Thanks for the reply. Can you quote the source of, "No, not for the education exclusion. The rules specifically require the original issue to be in your name."?

Thanks

Employee

https://www.treasurydirect.gov/indiv/planning/plan_education.htm

Which says:

"To qualify for the exclusion, the bonds must be Series EE or Series I savings bonds issued after 1989 in your name, or, if you are married, they may be issued in your name and your spouse's name"