Fill Out Your Fs1522 Form

What is the FS Form 1522 used for?

The FS Form 1522 is a request form used to obtain payment for United States Savings Bonds, Savings Notes, Retirement Plan Bonds, and Individual Retirement Bonds. Individuals who are owners, co-owners, surviving beneficiaries, or legal representatives of an estate can complete this form to request payment for these securities.

Who is eligible to fill out the FS Form 1522?

Eligible individuals include the owner of the bonds, co-owners, surviving beneficiaries, or legal representatives of an estate in cases where the owner is deceased or incompetent. It can also be signed by a minor if deemed competent by a notary or certifying officer. However, an incompetent person cannot sign the form.

What information is required in the Description of Bonds section?

In this section, you need to provide the names of those registered on the bonds, along with details such as the issue date and serial number for each bond. If you have more bonds than can fit on the form, you may attach a separate list or use FS Form 3500 to provide the necessary information.

What details do I need to provide for direct deposit payment?

For direct deposit, you must provide the payee's Taxpayer Identification Number, which can be a Social Security Number for individuals or an Employer Identification Number for entities. Additionally, you need to include the name on the account, the bank routing number, account type (checking or savings), and the financial institution's name and phone number. Verify all information to ensure deposit accuracy.

When is notary certification required?

If the current redemption value of your bonds exceeds $1,000, signatures must be certified in the presence of a notary or certifying officer. In cases where the bonds’ value is $1,000 or less, you can simply sign the form and include a copy of your ID to verify your identity.

What should I do if I have changed my name?

If your name has changed due to marriage or other legal reasons, you should indicate both your former name and your current name on the form. For example, you may state, “Miss Mary T. Jones now by marriage Mrs. Mary T. Smith,” to ensure clarity.

Where do I send the completed FS Form 1522?

Once you have completed the form and gathered any required documentation, send it to the Treasury Retail Securities Services at P.O. Box 9150, Minneapolis, MN 55480-9150. Keep in mind that any legal evidence or documentation submitted cannot be returned.

What happens if I don’t provide the required information?

Failing to provide the necessary information may delay your request for payment. It’s important to complete the form accurately and fully, as this ensures that the Bureau of the Fiscal Service can process the transaction effectively.

Filling out the FS Form 1522 can seem straightforward, but some common mistakes can complicate the process. One frequent error is failing to provide complete details about the securities. Applicants must list the names of those currently registered on the bonds, along with their respective issue dates and serial numbers. Omitting this information can lead to unnecessary delays. Always ensure that these details are filled out accurately and completely.

An additional mistake often made involves the Taxpayer Identification Number. People sometimes assume that including either a Social Security Number or an Employer Identification Number is optional, but it is, in fact, a requirement. The payee must provide the correct number to facilitate a smooth payment process, so be sure to double-check this crucial information before submitting the form.

Furthermore, many applicants neglect to sign the form properly. The signature must be made in ink, and the person requesting payment needs to print their name clearly underneath. Failure to adhere to this requirement can result in the rejection of the request. If a name change has occurred, it is essential to reflect both names and explain the change properly in the signature area; otherwise, this may lead to complications.

It is also common for individuals to disregard the notarization requirements for signatures. If the total current redemption value of the bonds exceeds $1,000, the signature must be certified by a notary or certifying officer. Bypassing this step can lead to delays or problems in processing the request. Always make sure to comply with the necessary certification requirements.

Another frequent oversight is related to the information about the financial institution. People sometimes provide incorrect bank routing numbers or forget to include the financial institution's phone number. This slip-up can cause errors in direct deposit and can delay or even prevent the receipt of funds. Always verify this information with your bank prior to submission.

Finally, applicants often overlook checking the entire form for clarity and completeness before submission. Mistakes like unclear handwriting or missing signatures can cause significant delays. Taking the time to review each section for accuracy and clarity will ensure a smoother process and avoid unnecessary complications.

When submitting the FS Form 1522 for the payment of United States Savings and Retirement Securities, individuals often need to accompany it with additional documents. Each of these documents serves a specific purpose and ensures that the process is smooth and compliant with regulations.

• FS Form 3500: This form allows applicants to provide additional information if there isn't enough space on Form 1522 for listing bonds. It's essential for keeping records organized and complete.
• Notarized Identification: If the current redemption value of the bonds exceeds $1,000, a notarized copy of an ID is required. This serves to confirm the identity of the individual requesting payment.
• Proof of Ownership Documents: Documentation that establishes ownership of the bonds may be necessary. This could include previous statements or certificates proving that the requester is entitled to the securities.
• Direct Deposit Authorization: If a direct deposit payment is requested, this document collects the bank's information and account details, ensuring that funds are transferred accurately.
• Taxpayer Identification Number (TIN) Documentation: Individuals must provide their Social Security Number or Employer Identification Number. This is vital for tax purposes and to confirm eligibility for payment.
• Beneficiary Declaration: In cases where the owner is deceased, a declaration naming the beneficiaries must be included to ascertain who is entitled to the payment.

Having these documents ready when submitting FS Form 1522 can expedite the processing of requests and help avoid delays. This proactive approach ensures that all necessary information is in order, leading to a more efficient experience.

• FS Form 3500: This form is used when submitting a request for a payment of a U.S. Savings Bond, especially when more space is needed to list multiple securities. Like FS Form 1522, it requires identification details and payment instructions for receiving funds.

• FS Form 1820: This form serves to request payment for lost, stolen, or destroyed savings bonds. It shares FS Form 1522’s purpose of securing payment while necessitating the verification of identity and entitlement to the securities.

• FS Form 1520: Similar to FS Form 1522, this form is used to claim payment on U.S. savings bonds for beneficiaries. Both forms underline the need for rightful claimants to prove identity and establish ownership before receiving funds.

• IRS Form W-9: This form is utilized to provide a Taxpayer Identification Number (TIN) for tax reporting purposes. Just as FS Form 1522 requires a TIN, so too does the W-9 support tax compliance by ensuring accurate information is on file with the IRS.

• IRS Form 8832: This form allows a business entity to choose how it will be classified for federal tax purposes. Its commonality with FS Form 1522 lies in the requirement of clear, correct identification and instructions for ensuring payments are processed correctly.

• Form SSA-11: Also known as the “Application for Spouse's or Child's Benefits,” this form is similar in that it helps individuals claim benefits, requiring information about personal identification and relationships to the claim, much like FS Form 1522 addresses ownership of securities.

• Form 1040: This is the standard individual income tax return form. Though its primary function differs, both Form 1040 and FS Form 1522 require accurate personal data and financial details to ensure compliance with governmental processes and accurate payment of claims.

Things to Do When Filling Out the FS Form 1522:

• Print clearly in ink or type all requested information.
• Provide accurate and complete names of the securities' registered owners.
• Include a Social Security Number or Employer Identification Number for direct deposit.
• Attach additional documentation if the redemption value exceeds $1,000.

Things to Avoid When Filling Out the FS Form 1522:

• Do not leave any required fields blank.
• Avoid making false or misleading statements, as this is a serious offense.
• Do not forget to sign the form in front of a notary if required.
• Refrain from using pencil or unclear handwriting.

• Only One Person Can Use FS Form 1522: This form can actually be completed by various individuals including co-owners, surviving beneficiaries, or legal representatives of an estate. It is not limited to just one person.
• Certification is Always Required: Certification is only necessary if the current redemption value of the bonds exceeds $1,000. For lesser amounts, attaching a copy of an ID is sufficient.
• Once Submitted, The Form Cannot Be Corrected: While it’s crucial to fill the form out carefully, if an error is made, it can often be corrected by submitting a new form with accurate details.
• The Form Can Be Mailed Anywhere: There is a specific address for submitting the form and the bonds. It's essential to send them to the correct location to ensure proper processing.
• Anyone Can Notarize the Signature: Not all notaries or certifying officers are accepted to notarize this form. Only authorized certifying officers at financial institutions can do this.
• Direct Deposit is Optional: If you want to receive funds via direct deposit, providing bank information is necessary. Without it, payments will be issued by check.

Key Takeaways on Filling Out and Using the FS Form 1522:

1. The FS Form 1522 is specifically designed for requesting payment of various United States savings bonds and securities.
2. Accurate completion is crucial; print clearly in ink or type all the required information.
3. Include the name(s) of the person(s) currently listed on the securities; provide issue dates and serial numbers.
4. The payee must provide either a Social Security Number or an Employer Identification Number.
5. Direct deposit details must include the bank routing number and the type of account (checking or savings).
6. If bonds total more than $1,000 in redemption value, a notary or certifying officer must witness the signature.
7. Identity verification is needed only if the bond value is over $1,000; a government-issued ID suffices for lesser amounts.
8. Retain a copy of the completed form and related documents for your records; originals cannot be returned.
9. Submit the completed form and any necessary documentation to the Treasury Retail Securities Services to avoid delays.