Form FS-5511 is the U.S. Treasury form a fiduciary uses to request payment or reissue of United States Savings Bonds and related securities held by a decedent’s estate, trust, or guardianship when court-appointed authority controls the assets. You fill it out by entering the fiduciary’s identifying information, listing every bond or security by serial number and denomination, choosing payment or reissue, attaching certified court documents, and signing before an authorized certifying officer or with a Medallion signature guarantee through the TreasuryDirect FS Form 5511 portal.
The wrong form, a missing signature guarantee, or one mistyped serial number stalls a claim for months and can cost heirs real money in unpaid interest. According to a 2024 Bureau of the Fiscal Service report on unredeemed savings bonds, more than $30 billion in matured U.S. savings bonds sit unclaimed, much of it tied to estates that never completed the proper distribution paperwork.
- 📝 How to complete every line of FS-5511 the right way
- ⚖️ Which federal rules in 31 CFR Parts 315, 353, and 360 control the process
- 👨👩👧 Three named-heir examples showing real distributions
- 🚫 The seven costliest mistakes fiduciaries make on this form
- ❓ Ten plain-English FAQs covering taxes, timing, and state quirks
What Form FS-5511 Actually Is
Form FS-5511, officially titled “Fiduciary’s Request for Distribution of United States Treasury Securities,” is the federal form a court-appointed fiduciary files to move savings bonds out of an estate, trust, or guardianship and into the hands of the rightful heirs. The form lives on the Treasury’s site as a fillable PDF you can download from the official FS Form 5511 page. It is one piece of a larger family of Treasury distribution forms, but it is the one used when a court order, letters testamentary, or letters of administration name a fiduciary in charge.
The form exists because U.S. Savings Bonds are registered securities. Ownership is recorded in the Treasury’s books, not just on paper. When the registered owner dies, the Treasury cannot just hand the bonds to whoever shows up at the bank. The fiduciary must prove authority and identify each heir. The Treasury’s Death of a Savings Bond Owner guidance explains that paper bonds, electronic bonds, and Treasury marketable securities all flow through the same legal framework set by 31 CFR Part 315 for older Series E and H bonds, 31 CFR Part 353 for Series EE and I paper bonds, and 31 CFR Part 360 for book-entry electronic bonds.
Failing to use FS-5511 when it applies has real consequences. A bank may refuse to cash bonds. The Treasury will return packets that lack the right form. Heirs lose access to interest while the bonds sit in limbo. In extreme cases, a fiduciary who pays the wrong person can face personal liability under state probate law.
A common misconception is that FS-5511 is only for big estates. It is not. The form applies any time a court has appointed a fiduciary, even for an estate worth $5,000. Small estates without court appointment use a different path explained later in this article.
Who Must Use FS-5511
The form is for court-appointed fiduciaries. That includes executors, administrators, personal representatives, trustees of testamentary trusts, conservators, and legal guardians. The Treasury accepts the form only when the fiduciary attaches certified court papers dated within one year, as required by the Bureau of the Fiscal Service certification rules.
If no court has appointed anyone, FS-5511 is the wrong form. A surviving co-owner uses FS Form 1522 for cash redemption or FS Form 4000 for reissue. A small-estate heir under the $100,000 federal threshold in 31 CFR § 315.20 uses FS Form 5336 instead.
The consequence of picking the wrong form is rejection. The Treasury’s Parkersburg, West Virginia processing center will mail the packet back, often weeks later, with a letter pointing to the correct form. The cycle can repeat if the second submission also has errors.
When FS-5511 Is the Right Form
FS-5511 is the right tool in three core situations. First, when an estate is in probate and the personal representative needs to liquidate bonds to pay debts or distribute cash to heirs. Second, when a trustee must move bonds out of a testamentary trust into beneficiaries’ names. Third, when a court-appointed guardian or conservator manages bonds for a minor or incapacitated adult and must convert them to a different registration.
The federal authority comes from 31 CFR § 315.70 for older Series E and H bonds and the parallel sections in Parts 353 and 360. These rules say a fiduciary stands in the shoes of the decedent for purposes of dealing with Treasury securities. The fiduciary can request payment, reissue, or both.
The consequence of using FS-5511 outside these three core situations is delay. For example, if a couple held bonds in co-ownership form (the “OR” registration) and one spouse dies, the survivor is already the sole owner by operation of law. Filing FS-5511 in that case adds months because the Treasury will instruct the survivor to use FS Form 4000 or FS Form 1522.
A real-world mini-scenario helps. Maria Alvarez is the court-appointed executor of her late father’s estate in Phoenix. Her father owned twelve Series EE paper bonds totaling $24,000 face value. Maria must distribute the proceeds equally to herself and her two brothers. She files FS-5511 with certified letters testamentary, and the Treasury issues three checks within eight weeks.
A common misconception is that FS-5511 can replace probate. It cannot. The form requires an existing court appointment. If the family never opened probate, they must either open it or use the small-estate path under FS Form 5336.
Step-by-Step: Filling Out FS-5511
The form has nine substantive sections plus a signature block. Work through them in order, and do not leave any field blank. Treasury staff use optical scanning, and blank fields trigger manual review and delay.
Section 1: Fiduciary Information
Enter the legal name of the fiduciary exactly as it appears on the court order. If the order names “Jane R. Doe, Executor of the Estate of Robert P. Doe,” write that full string. Add the fiduciary’s mailing address, daytime phone number, and email. The TreasuryDirect contact policy confirms the Treasury uses the listed address for all correspondence and checks.
The consequence of a name mismatch between the form and the court papers is automatic rejection. The Treasury’s quality-control team flags any discrepancy, even a missing middle initial. Fix this by photocopying the court order and copying the name letter-for-letter.
A common misconception is that the fiduciary’s personal address goes here. It does. Checks made payable to “Jane R. Doe, Executor” are mailed to Jane’s home or office, not to the decedent’s last address.
Section 2: Decedent or Ward Information
List the decedent’s full legal name, Social Security number, date of birth, and date of death. For a guardianship, list the ward’s information instead and check the “living ward” box. Attach a certified death certificate dated within the past year, as required by the Treasury’s certification page.
The consequence of an outdated death certificate is rejection. Some states issue informational copies that are not certified. Only certified copies with a raised or color seal qualify.
A real-world example: David Chen in Boston used a photocopy of his mother’s death certificate. The Treasury returned the entire packet. He had to order a fresh certified copy from the Massachusetts Registry of Vital Records for $20, adding three weeks to the timeline.
Section 3: Description of Securities
This is the longest section. List every bond or security one row at a time. Required fields are issue date, denomination, serial number, registration (exact names and Social Security numbers as printed on the bond), and series (EE, E, I, H, HH, or marketable security CUSIP). The Treasury savings bond calculator helps you confirm current values before you list them.
The consequence of a wrong serial number is targeted rejection of that single bond. The rest of the packet may process, but the mistyped bond goes back. Fix this by using a magnifying glass and double-checking each digit.
A common misconception is that you must list redemption values. You do not. The Treasury calculates current value at the time of payment based on the issue date and series. Listing your own estimate is fine but not required.
Section 4: Election (Payment, Reissue, or Both)
Check one of three boxes for each bond: pay (cash redemption), reissue (transfer to a new registration), or distribute partially in each form. Reissue lets a fiduciary put bonds in heirs’ names without triggering immediate federal income tax on the accrued interest. Payment triggers a 1099-INT for the year of redemption under IRS Publication 550.
The consequence of choosing payment when reissue was available is a tax bill. Suppose Linda Park in Seattle inherits $50,000 of Series I bonds with $18,000 of accrued interest. If she requests payment, the estate (or she) reports $18,000 as taxable interest in 2026. If she requests reissue into her name, she defers tax until she later cashes the bonds.
A common misconception is that reissue erases the tax. It only defers it. The new owner inherits the original cost basis and the deferred interest, and a 1099-INT eventually issues when the bond is finally redeemed or matures.
Section 5: New Registration Information (If Reissuing)
If you elected reissue in Section 4, list the new owner’s full legal name, Social Security number, mailing address, and registration form (single owner, co-owner, or beneficiary). The TreasuryDirect registration rules limit who can be named, and a minor must be registered with a custodian under the Uniform Transfers to Minors Act.
The consequence of an incomplete new registration is a hold on that bond pending Treasury follow-up. The fiduciary receives a letter asking for the missing data, which adds two to four weeks.
Section 6: Distribution Schedule
This grid shows how each bond’s value flows to each heir. List heirs by name, address, Social Security number, and percentage or dollar amount. Percentages must total 100. The Bureau of the Fiscal Service distribution rules require the distribution to match the court order, will, or trust instrument.
The consequence of a math error is rejection of the whole distribution. Fix this by using a spreadsheet to verify totals before transcribing them onto the form.
A real-world example: James Whitfield in Atlanta is executor for his late uncle. Three nieces inherit equally. James writes 33%, 33%, and 33%, leaving 1% unaccounted. The Treasury rejects the form. He resubmits with 33.33%, 33.33%, and 33.34%, and processing resumes.
Section 7: Tax Identification and Withholding Election
Provide the estate’s Employer Identification Number (EIN) from IRS Form SS-4 if one exists, or the trust’s EIN. Decide whether to have federal income tax withheld at 10% on the accrued interest. The default is no withholding unless the fiduciary checks the box.
The consequence of skipping withholding is an estimated-tax obligation under IRS Publication 505. The fiduciary or heir may owe quarterly payments to avoid an underpayment penalty.
Section 8: Special Instructions
Use this free-text box for anything unusual: a court order limiting distribution, a contested heir, a partial distribution, or a request to mail checks to a different address. Keep the entry short and factual. Anything ambiguous triggers manual review.
Section 9: Certification and Signature
The fiduciary signs in front of an authorized certifying officer or applies a Medallion signature guarantee. Acceptable certifying officers include officers of federally insured banks, credit unions, and savings and loans, as listed in the Treasury’s signature certification guide. A notary public is not acceptable for FS-5511.
The consequence of a notary signature is automatic rejection. This is the single most common error in fiduciary submissions. Fix it by visiting your bank’s branch manager, who can certify or apply a Medallion stamp at no charge for established customers.
A common misconception is that any bank will Medallion-stamp on the spot. Many banks reserve the service for account holders only, and some refuse to stamp securities they did not issue. Call ahead.
Three Real-World Distribution Scenarios
The following scenarios show how FS-5511 plays out in common family situations. Each table shows a decision and its direct effect.
Scenario 1: Spouse Splits Bonds Among Adult Children
Carla Romero in Tampa is executor of her late husband’s estate. He left $80,000 in Series EE bonds. The will splits the bonds equally among Carla and her two adult children.
| Decision Carla Makes | Direct Effect on the Estate |
|---|---|
| Reissue each share into the three new owners’ names | Defers tax on accrued interest for all three recipients |
| Lists 33.33%, 33.33%, 33.34% on Section 6 grid | Treasury accepts allocation and avoids math-error rejection |
| Uses Medallion stamp from her credit union | Avoids notary rejection and saves four weeks |
Scenario 2: Personal Representative Liquidates for Debt Payment
Marcus Bell in Cleveland is the court-appointed personal representative of his father’s estate. The estate owes $32,000 in medical debt. Marcus must cash $40,000 of Series I bonds to pay creditors.
| Decision Marcus Makes | Direct Effect on the Estate |
|---|---|
| Elects “payment” on all bonds in Section 4 | Triggers a 1099-INT to the estate for accrued interest |
| Selects 10% federal withholding in Section 7 | Reduces estate’s quarterly estimated-tax exposure |
| Mails check to estate’s bank account, not personal | Keeps estate funds segregated and avoids fiduciary liability |
Scenario 3: Trustee Distributes from Testamentary Trust
Priya Shah in Houston is trustee of her late mother’s testamentary trust, which holds $120,000 in Series HH bonds for two minor grandchildren under UTMA.
| Decision Priya Makes | Direct Effect on the Trust |
|---|---|
| Reissues bonds to UTMA custodial registrations | Preserves bond status until each grandchild reaches majority |
| Lists Texas UTMA custodian language exactly | Treasury accepts registration under state-specific rules |
| Attaches certified trust instrument and court letter | Confirms Priya’s authority under 31 CFR § 353.45 |
Common Mistakes to Avoid
Fiduciaries lose the most time on small, fixable errors. The list below covers the seven most damaging ones.
- Using a notary instead of a Medallion stamp or authorized certifying officer, which causes automatic rejection
- Submitting a death certificate older than one year, which fails the Treasury certification standard
- Listing percentages that do not total 100, which voids the entire distribution grid
- Mismatching the fiduciary’s name on FS-5511 with the court order, which triggers manual review
- Forgetting to attach certified letters testamentary or letters of administration, which leaves authority unproven
- Choosing payment when reissue would defer taxes, which creates a needless 1099-INT
- Sending the packet to the wrong address, which adds weeks of mail-routing delay before it reaches the Bureau of the Fiscal Service in Parkersburg
Do’s and Don’ts for Fiduciaries
The do’s and don’ts below come from years of Treasury processing patterns and probate-court experience.
- Do call your bank’s branch manager before visiting, because not every branch offers Medallion stamps
- Do photograph every page of the completed packet before mailing, because mailed forms occasionally get lost
- Do use certified mail with return receipt, because it creates a paper trail for the probate file
- Do verify each serial number twice, because one wrong digit rejects that bond
- Do calculate current bond values on the Treasury savings bond calculator, because it informs accurate distribution math
- Don’t sign the form before reaching the certifying officer, because they must witness the signature
- Don’t staple bonds to the form, because Treasury staff must scan them flat
- Don’t write on the bonds themselves, because alterations void the security
- Don’t combine multiple decedents on one FS-5511, because the form covers one estate at a time
- Don’t assume electronic and paper bonds use the same packet, because TreasuryDirect electronic bonds follow a different online workflow
Pros and Cons of Reissue Versus Payment
Choosing between reissue and payment is the most consequential decision on the form. The table below highlights the trade-offs.
| Reissue (Pros) | Payment (Pros) |
|---|---|
| Defers federal income tax on accrued interest | Provides immediate liquidity for debts and bequests |
| Keeps the bond earning interest until maturity | Closes the estate’s bond holdings cleanly |
| Allows custodial registration for minors | Avoids future tracking of multiple small bonds |
| Spreads tax across multiple future years | Lets the estate report all interest in one tax year |
| Preserves Series I inflation protection | Eliminates risk of lost paper bonds after distribution |
| Reissue (Cons) | Payment (Cons) |
|---|---|
| New owner inherits the deferred tax burden | Creates a 1099-INT for the year of redemption |
| Requires more paperwork per heir | Loses future interest accrual |
| Minor heirs need UTMA custodians | Cannot be undone after Treasury issues the check |
| Multi-state heirs may face registration quirks | Accelerates federal tax liability |
| Some banks refuse to redeem reissued bonds without ID | Removes any inflation hedge for the heirs |
Key People, Places, and Entities to Know
The FS-5511 process involves several actors. The fiduciary is the central player and must hold a current court appointment. The Bureau of the Fiscal Service in Parkersburg, West Virginia, is the processing center. The certifying officer is a bank or credit union official authorized to confirm the fiduciary’s signature.
The probate court issues the letters that prove fiduciary authority. The IRS receives the 1099-INT for any redeemed bonds and enforces tax rules under IRC § 454. The state vital records office issues the certified death certificate. The heirs are the people or entities who ultimately receive the bond proceeds, and their identities must match the court order or trust instrument.
The Treasury Department sets the rules under Title 31 of the Code of Federal Regulations. The TreasuryDirect online platform handles electronic bonds, while paper bonds flow through Parkersburg. Coordinating across these entities is the fiduciary’s biggest operational challenge.
State-Level Nuances Fiduciaries Must Watch
Federal law governs the bond itself, but state probate law governs the fiduciary’s authority. Community property states like Texas, California, Arizona, New Mexico, Louisiana, Idaho, Nevada, Washington, and Wisconsin may treat marital bonds differently. A surviving spouse in California may already own half the bond by operation of community property law, even before any FS-5511 filing.
Small-estate thresholds vary widely. The California small-estate affidavit covers estates up to $184,500 as of 2026, while New York’s small-estate cap is $50,000. The federal $100,000 threshold under FS Form 5336 is independent of state limits, so a fiduciary may use the federal small-estate path even when state law would require full probate.
UTMA custodial rules also vary. Texas allows custodial accounts to extend to age 21, while South Dakota allows extension to age 25. The fiduciary must list the correct state’s UTMA citation on the new registration, or the Treasury rejects the reissue. The Uniform Law Commission UTMA page tracks state-by-state adoptions.
The consequence of ignoring state nuances is a void distribution. A bond reissued under the wrong state’s UTMA may be unenforceable, leaving the minor’s funds in legal limbo. The fix is to confirm both the state of the minor’s residence and the state where the trustee or custodian is appointed before completing Section 5.
Tax Reporting and IRS Coordination
Bond interest is federal-taxable but state and local tax-exempt under 31 USC § 3124. The estate may elect to report all accrued interest on the decedent’s final Form 1040 under IRS Publication 559, which can save tax if the decedent was in a low bracket in the year of death. Otherwise, the interest passes to the estate or heirs.
For estates above the federal exemption ($13.99 million in 2026 per the IRS estate tax page), the bonds are reported on Form 706 at their redemption value. The fiduciary must coordinate FS-5511 distributions with the estate tax return so values match.
The consequence of mismatched values is an IRS audit flag. Fix this by using the same valuation date on FS-5511 and Form 706, typically the date of death or the alternate valuation date six months later.
Recap of Relevant Court Rulings
Several federal cases shape FS-5511 practice. Free v. Bland, 369 U.S. 663 (1962), confirmed federal preemption over state community property law for savings bond co-ownership, meaning a surviving co-owner takes the full bond even if state law would split it. Yiatchos v. Yiatchos, 376 U.S. 306 (1964), carved a narrow fraud exception, allowing state courts to disregard a co-ownership registration created to defraud a spouse.
Estate of Curry v. United States, decided in the Court of Federal Claims, reinforced that fiduciaries must follow the regulations in Title 31 CFR exactly, and that equitable arguments cannot override the form requirements. The practical lesson is that the Treasury’s form rules are not flexible. Fiduciaries who try to negotiate exceptions almost always lose.
The consequence is procedural rigor. A fiduciary who fills out FS-5511 exactly as instructed, with every attachment, almost always succeeds. A fiduciary who improvises almost always faces delay or rejection.
Where to Mail the Completed Form
Mail the completed FS-5511 packet, all original bonds, certified court documents, and the certified death certificate to the Treasury Retail Securities Services in Minneapolis or Parkersburg, depending on the bond series. The current mailing addresses are listed on the TreasuryDirect contact page. Use certified mail with tracking and insurance.
The consequence of using regular mail is risk of loss. Original paper bonds are bearer-style for redemption purposes, and a lost packet means filing FS Form 1048 to claim a lost bond, which adds months. Fix this by using USPS certified mail with return receipt, or a tracked carrier like FedEx or UPS.
Processing times in 2026 typically run six to thirteen weeks from receipt. The Treasury posts current wait times on its processing-time updates page. Plan accordingly when promising heirs a distribution date.
FAQs
Is Form FS-5511 the only form a fiduciary needs to distribute savings bonds?
No. Most fiduciaries also need certified letters testamentary, a certified death certificate, and sometimes FS Form 1455 for partial distributions or FS Form 4000 for non-fiduciary reissues alongside FS-5511.
Can a notary public certify the fiduciary’s signature on FS-5511?
No. The Treasury requires a Medallion signature guarantee or a certifying officer at a federally insured bank, credit union, or savings and loan, and a notary stamp causes automatic rejection.
Does reissuing bonds to heirs trigger immediate federal income tax?
No. Reissue defers tax on accrued interest until the new owner cashes the bond or it reaches final maturity, while a payment election triggers a 1099-INT in the year of redemption.
Is FS-5511 the right form for a surviving co-owner of savings bonds?
No. A surviving co-owner uses FS Form 1522 to cash bonds or FS Form 4000 to reissue them, because the survivor already owns the bond by operation of federal law.
Can a small estate avoid FS-5511 entirely?
Yes. Estates valued at $100,000 or less in Treasury securities can use FS Form 5336 under 31 CFR § 315.20, bypassing probate and the fiduciary form requirement.
Do I need to list redemption values for each bond on the form?
No. The Treasury calculates current values at processing using the issue date and series, so listed estimates are helpful but not required for acceptance.
Are savings bond interest payments taxable at the state level?
No. Federal law in 31 USC § 3124 exempts U.S. Treasury securities from state and local income tax, although the federal tax still applies on the accrued interest.
Can FS-5511 be filed electronically through TreasuryDirect?
No. The form is paper-only and must be mailed with original bonds and certified attachments, while electronic book-entry bonds in a TreasuryDirect account follow a separate online claim path.
Is a certified death certificate from any year acceptable?
No. The Treasury requires the certified death certificate to be dated within the last twelve months, and informational copies without a raised seal are rejected outright.
Can a fiduciary distribute bonds unequally among heirs using FS-5511?
Yes. The Section 6 distribution grid accepts any allocation that totals 100% and matches the controlling will, trust, or court order, including unequal shares and specific bequests.
Related reading
- How to Fill Out Treasury Form FS-1522 (w/Examples) + FAQs
- How to Fill Out Treasury Form FS-5336 (w/Examples) + FAQs
- How to Fill Out Treasury Form FS-1048 (w/Examples) + FAQs
- How to Fill Out the U.S. Treasury FS Form 1851 (w/Examples) + FAQs
- How to Fill Out the U.S. Treasury FS Form 5336 (w/Examples) + FAQs
- How to Fill Out the U.S. Treasury FS Form 5394 (w/Examples) + FAQs
- How to Fill Out ATF Form 23 (w/Examples) + FAQs