FS Form 1455: How an Executor Distributes Savings Bonds to Heirs
FS Form 1455 lets an executor or trustee pass a decedent's savings bonds and Treasury securities to heirs: the evidence, the no-split rule, the next forms.
Savings bonds, paper or electronic, and bills, notes and bonds held in TreasuryDirect are handled by the Bureau of the Fiscal Service, which has its own estate forms. FS Form 1455, revised April 2026, is the one for an estate or trust that has a formal fiduciary.
Which estate form applies
The Treasury’s estate forms split on whether a court is involved and how large the holdings are:
| Situation | Form | Guide |
|---|---|---|
| Court-appointed executor or administrator while the estate is open, or a trustee, distributing to the people entitled | FS Form 1455 | This page |
| No court proceeding and no state small-estate procedure, Treasury holdings up to $100,000 | FS Form 5336 | FS Form 5336 |
| Estate already closed, or settled under a state small-estate procedure | FS Form 5394 | FS Form 5394 |
FS Form 1455 is not limited to estates. The instructions list five reasons for a distribution: “termination of a trust, distribution of an estate, attainment of majority, restoration to competency, or other reason.” A trustee winding up a trust uses the same first box as an executor, “Distribution of an estate OR trust to person(s) entitled.” A guardian handing securities back to a ward who has come of age, or to an owner restored to competency, marks “Other” and describes the reason, which are the examples the instructions give.
Part A: the reason, and the proof of authority
Part A has two boxes: “Distribution of an estate OR trust to person(s) entitled,” or “Other reason for distribution.” The instructions then ask for “a copy of all evidence that establishes your authority to request this transaction,” and give the most common case: “if you are the administrator or executor of an estate, provide a certified copy of your letters of appointment, dated within one year of submission, showing the appointment is still in full force.” The fiduciary must also “submit certified copies of death certificates for all deceased registrants,” meaning everyone named on the securities who has died, not only the person whose estate is being settled.
The one-year limit on the letters catches estates that take a long time. If the letters were issued two years ago, the executor needs a recently certified copy from the probate court showing the appointment is still in force.
Part B: one heir per section
Each distributee, the person or entity receiving securities, gets a separate Part B with their name, Social Security number or employer identification number, phone and address. Item 2 lists exactly what that person receives: the title of each security, issue date, face amount, identifying number and registration. The form’s examples show the level of detail expected, from a paper Series EE bond with its serial number to an electronic marketable security identified by its CUSIP and account number.
Two rules shape how an estate can be divided:
- Savings bonds are indivisible. The form says individual savings bonds “may not be split. Each savings bond must be distributed, in its entirety, to an entitled individual or entity.”
- Marketable securities split in $100 steps. Bills, notes and bonds “may be distributed in full or in increments of $100,” and the form has a line to describe the exact amount.
Suppose an executor must divide a mother’s estate equally among three children, and the Treasury holdings are twelve paper EE bonds of different values and $30,000 of Treasury bills in TreasuryDirect. The bills divide cleanly, $10,000 to each child. The bonds cannot be cut, so the executor assigns whole bonds to each child and evens out any difference with other estate assets, or cashes the bonds and distributes cash. How to balance the shares is a matter for the will and state law; the form only records the result.
Interest follows the securities: the instructions say any interest that is or becomes due on securities belonging to a decedent’s estate “will be paid to the person to whom the securities are distributed, unless otherwise requested.”
Part C: signatures and certification
Every fiduciary signs “in ink, in your fiduciary capacity, in the presence of a certifying officer.” If there are co-executors or co-trustees, “all must join in the request unless by express statute, decree of court, or the terms of the instrument under which the fiduciaries are acting, one or more of them may properly execute the request.” A corporate fiduciary, such as a bank acting as trustee, signs through an authorized officer with the corporation’s name.
The signatures carry an indemnity: the fiduciaries agree to hold the United States harmless and to repay any loss from the transaction, including interest, administrative costs and penalties. The certification must come from a certifying officer at a financial institution, using a signature guarantee, Medallion or similar official stamp. The instructions say plainly: “Certification by a notary isn’t acceptable.” Our table of which Treasury forms take a notary shows how few do.
The form goes, without its instruction pages, to Treasury Retail Securities Services, PO Box 9150, Minneapolis, MN 55480-9150. Legal evidence “cannot be returned,” so send certified copies you can spare.
What the heirs do next
FS Form 1455 establishes who is entitled; the heirs then complete the transaction for their share, using the forms Part A names:
| What the heir receives | To be paid | To keep it |
|---|---|---|
| Paper savings bonds (EE, E, I, HH, H) | FS Form 1522 | FS Form 4000 to reissue in their own name, or FS Form 1851 to reissue to a trust |
| Electronic securities in TreasuryDirect | FS Form 5512 to redeem | FS Form 5511 to transfer |
If an heir wants payment of paper marketable securities, which are rare today, the instructions say the fiduciary completes the assignment on the back of the security and the heir completes IRS Form W-9.
Can the executor just go to the bank?
For some paper savings bonds, sometimes. The Treasury’s Quick Start guide for financial institutions, revised October 2022, tells banks never to cash Series H or HH bonds (or F, G, J and K, and retirement bonds), so those always go by mail. For other bonds, such as Series E, EE and I, it says payment to a court-appointed legal representative of a decedent’s estate “is at the option of your financial institution.” The bank needs a certified death certificate for each person named on the bond and evidence of the appointment “certified to be true and correct under court seal,” and the representative must be acting for the estate of the last of the people named on the bond to die. The same guide tells banks to send the customer to cashing by mail instead when the authority is “limited” or “special,” when the customer is named as executor in a will but there is no evidence the will was probated, or when the estate “is being settled using a small estate affidavit” or “informally.”
That route only cashes bonds. To give bonds or securities to heirs rather than cash them, or for electronic holdings in TreasuryDirect, FS Form 1455 is the path.
Before you mail it
- Get fresh certified letters of appointment, dated within one year, and certified death certificates for every deceased person named on the securities.
- List every security with serial or confirmation numbers; a deceased owner’s TreasuryDirect account and any paper bonds both count.
- Plan the split around whole bonds and $100 steps for marketable securities.
- Have every fiduciary sign before a certifying officer.
- Tell each heir which follow-up form they need, from the table above.
Sources
- Bureau of the Fiscal Service — FS Form 1455, Request by Fiduciary for Distribution of United States Treasury Securities, revised April 2026: Parts A to C and instructions
- Bureau of the Fiscal Service — Quick Start supplement for financial institutions, revised October 2022: legal representatives and when banks must refer customers to cashing by mail
- TreasuryDirect — Forms for Savings Bonds
Quick answers
What is FS Form 1455 used for?
FS Form 1455, Request by Fiduciary for Distribution of United States Treasury Securities, is how one or more fiduciaries, such as an executor, administrator or trustee, ask the Treasury to distribute savings bonds, Treasury bills, notes, bonds and related payments to the people entitled to them. The instructions list the reasons as termination of a trust, distribution of an estate, attainment of majority, restoration to competency or another reason. The current version is revised April 2026.
Can an executor split a savings bond between heirs?
No. The form says individual savings bonds of Series EE, E, I, HH and H "may not be split. Each savings bond must be distributed, in its entirety, to an entitled individual or entity." Marketable securities such as Treasury bills, notes and bonds can be distributed in full or in increments of $100.
What documents does the executor send with FS Form 1455?
A copy of the evidence of the fiduciary's authority, such as a certified copy of the letters of appointment dated within one year of submission and showing the appointment is still in full force, plus certified death certificates for all deceased registrants. Each fiduciary signs in front of a certifying officer at a financial institution; the form says certification by a notary is not acceptable.
Can an executor cash a decedent's savings bonds at a bank?
Sometimes, and never for Series H or HH bonds, which banks may not cash. For other paper bonds, the Treasury's guide for financial institutions treats payment to a court-appointed legal representative of a decedent's estate as optional for the bank, and requires a certified death certificate for each person named on the bond and evidence of the appointment certified under court seal. It tells banks to refer the customer to cashing by mail instead when the authority is "limited" or "special," when there is a will but no probate appointment, or when the estate is settled with a small estate affidavit or informally.
What do the heirs do after FS Form 1455 is processed?
The form spells it out: a person entitled to paper savings bonds submits FS Form 1522 to be paid, FS Form 4000 to have them reissued in their own name, or FS Form 1851 to reissue them to a trust. A person entitled to electronic securities held in TreasuryDirect submits FS Form 5511 to transfer them or FS Form 5512 to redeem them.
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