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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 141 68. U.S. Savings Bonds U.S. Savings Bonds are obligations of the Federal Government. Unlike other government bonds, they are not transferable; they can only be sold back to the Federal Government. U.S. Savings bonds become countable resources after a mandatory retention period. Savings bonds are issued as traditional paper bonds or as book-entry securities. Book- entry securities (also called “savings security instruments”) are electronic savings bonds sold online by the U.S. Treasury Department. No paper bond is issued when an individual purchases an electronic savings bond. Currently, only Series EE and Series I savings bonds are issued as electronic bonds. Record of ownership of electronic savings bonds is maintained electronically by the Treasury Department. 68.1. Mandatory Retention Period The mandatory retention period is the same for paper Series EE and I bonds and electronic Series EE and I bonds. Series E bonds have not been issued since June 1980. • U.S. Savings Bonds (including Series E, EE, and I) issued prior to 2/1/03 are resources. Their retention period has passed. Series EE and Series I U.S. Savings Bonds issued on or after 2/1/03 have a 12 month mandatory retention period. They are not resources during that period. They are resources (not income) as of the first moment of the thirteenth month. • Series H and HH bonds have a 6-month mandatory retention period regardless of the issue date. They are resources (not income) as of the first moment of the seventh month. 68.2. Paper Savings Bonds 68.2.1. Ownership 68.2.1.1. Sole Ownership The individual in whose name a U.S. Savings Bond is registered owns it. The Social Security Number shown on a bond is not proof of ownership. 68.2.1.2. Co-Ownership The co-owners of a U.S. Savings Bond own equal shares of the redemption value of the bond.