C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 353—REGULATIONS GOVERNING DEFINITIVE UNITED STATES SAVINGS BONDS, SERIES EE AND HH › Subpart L—Deceased Owner, Coowner or Beneficiary

31 C.F.R. § 353.70

General rules governing entitlement

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The following rules govern ownership or entitlement where one or both of the persons named on a bond have died without the bond having been surrendered for payment or reissue:

(a) Single owner bond. If the owner of a bond registered in single ownership form has died, the bond becomes the property of that decedent's estate, and payment or reissue will be made as provided in this subpart.

(b) Coowner bond—(1) One coowner deceased. If one of the coowners named on a bond has died, the surviving coowner will be recognized as the sole and absolute owner, and payment or reissue will be made as though the bond were registered in the name of the survivor alone. Any request for reissue by the surviving coowner must be supported by proof of death of the other coowner.

(2) Both coowners deceased. If both coowners named on a bond have died, the bond becomes the property of the estate of the coowner who died last, and payment or reissue will be made as if the bond were registered in the name of the last deceased coowner alone. Proof of death of both coowners will be required to establish the order of death.

(3) Simultaneously death of both coowners. If both coowners die under conditions where it cannot be established, either by presumption of law or otherwise, which coowner died first, the bond becomes the property of both equally, and payment or reissue will be made accordingly.

(c) Beneficiary bond—(1) Owner deceased. If the owner of a bond registered in beneficiary form has died and is survived by the beneficiary, upon proof of death of the owner, the beneficiary will be recognized as the sole and absolute owner of the bond. Payment or reissue will be made as though the bond were registered in the survivor's name alone. A request for payment or reissue by the beneficiary must be supported by proof of death of the owner.

(2) Beneficiary deceased. If the beneficiary's death occurs before, or simultaneously with, that of the registered owner, payment or reissue will be made as though the bond were registered in the owner's name alone. Proof of death of the owner and beneficiary is required to establish the order of death.

(d) Nonresident aliens. If the person who becomes entitled to a bond because of the death of an owner is an alien who is a resident of an area with respect to which the Department of the Treasury restricts or regulates the delivery of checks drawn against funds of the United States or its agencies or instrumentalities, delivery of the redemption check will not be made so long as the restriction applies. See Department of the Treasury Circular No. 655, current revision (31 CFR part 211).

Notes of Decisions
Cited in 7 cases (2 in the last 5 years), 1985–2025 · leading case: Garrigus v. Viarengo, 963 A.2d 1065 (Conn. App. Ct. 2009).
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Garrigus v. Viarengo, 963 A.2d 1065 (Conn. App. Ct. 2009). · cites it 2× “The controlling federal regulation for joint United States savings bonds is 31 C.F.R. § 353.70 (b). 4 *663 In the present case, the court found that the plaintiff, by clear and convincing evidence, rebutted that presumption by establishing that the defendant committed a fraud on…”
Hardymon v. Miller, 718 F. Supp. 723 (S.D. Ind. 1989). “31 C.F.R. § 353.70 . A judicial proceeding which reaches a different result is not recognized.”
the Est. of Leah Rita Tillotson (Tex. App. 2020). · cites it 5× “31 C.F.R. §§ 353.70 (2020), 360.70 (2020).”
In the Matter of the Est. of Michael D. Jones (N.J. 2025). · cites it 3× “The moment Michael passed away, however, Jeanine became the sole owner of the bonds as the pay-on- death beneficiary per 31 C.F.R. § 353.70 (c)(1). The record contains no suggestion that Michael took any steps to have the bonds reissued in only his name or to provide evidence of…”
Haase v. Ferrero, 398 N.W.2d 466 (Mich. Ct. App. 1986). “31 CFR 353.70 provides in pertinent part: The following rules govern ownership or entitlement where one or both of the persons named on a bond have died without the bond having been surrendered for payment or reissue: *562 (b) If one of the coowners named on a bond has died, the…”
In the Matter of the Est. of Michael D. Jones (N.J. Super. Ct. App. Div. 2023). “Under 31 C.F.R. § 353.70 (c)(1), a beneficiary's bond ownership is established upon proof of death of the owner.”
In re the Est. of Gottlieb, 127 Misc. 2d 180 (N.Y. Sur. Ct. 1985). “The regulation here applicable to the obligation of the United States Treasury Department provides that upon due proof of the death of an owner of bonds registered in beneficiary form, “the beneficiary will be recognized as the sole and absolute owner of the bond” (31 CFR 353.70…”
— 31 C.F.R. § 353.70(b)(1) — 1 case
the Est. of Leah Rita Tillotson (Tex. App. 2020). “31 C.F.R. §§ 353.70 (2020), 360.70 (2020).”
— 31 C.F.R. § 353.70(c)(2) — 1 case
the Est. of Leah Rita Tillotson (Tex. App. 2020). “31 C.F.R. §§ 353.70 (2020), 360.70 (2020).”
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