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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 144 EXAMPLE: Ownership record is titled “John Smith with Mary Smith.” Mary is not an owner but could redeem the bond for him if given transaction authority by John Smith. 68.3.1.3. Verification of Ownership When an individual alleges ownership of electronic savings bonds, it will be necessary to document the bond ownership by asking the individual to download a record of the individual’s bond holdings from the Treasury Department. 68.3.2. Beneficiary Registration The bond owner can name a beneficiary of the electronic savings bond. The owner has sole ownership rights during his or her lifetime and is the only person who can redeem the bond. When the owner dies, the beneficiary becomes the owner of the bond and can cash the bond. 68.3.3. Access With electronic savings bonds, a paper bond is not issued. Thus, physical possession of the bond is not a requirement for redeeming it. The owner of an electronic savings bond can redeem it at any time after the mandatory retention period. 68.3.4. Value Electronic Series EE and I bonds are always issued at their full face value. As interest accrues, the bond’s value is the face value plus the accrued interest. Unlike paper bonds, there are no set denominations for electronic Series EE and I bonds. Determine the value of electronic savings bonds as follows. • Ask the individual to obtain his or her “Current Holdings” list from the Treasury Direct web site. http://www.savingsbonds.gov/ • Verify the total current value of all of the individual’s electronic Series EE and I bonds using the Current Holdings list. • Use the “Current Holdings—Summary” page to verify the number of bonds, face value of the bonds, issue dates, confirmation numbers, and the value of individual bonds.