FS Form 1522 Special Form of Request for Payment of United States Savings and Retirement Securities Where Use of a Detached Request Is Authorized

FS Form 1522, also known as the Special Form of Request for Payment of United States Savings and Retirement Securities Where Use of a Detached Request Is Authorized, is a specific form used by the United States Department of the Treasury. It is primarily utilized for the cashing in, or redemption, of savings bonds and retirement securities.

This form is generally required when the owner or co-owner of the bonds is deceased, mentally incompetent, a minor, or unable to sign the request for payment. In such cases, a legal representative or guardian acting on behalf of the owner would fill out FS Form 1522 to request for payment on the savings bonds or retirement securities.

Therefore, FS Form 1522 serves a crucial role when the original bond owner cannot manage the bonds themselves due to a variety of reasons, and there's a need for someone else to take responsibility for redeeming the savings bonds or retirement securities.

The FS Form 1522 is generally filed by the owner or co-owner of United States savings and retirement securities. In the case where the owner is incapacitated or deceased, it can be filed by a legal representative, a person legally authorized to act on behalf of the owner's estate. This form is used specifically when a detached request for payment is authorized. This typically happens when the reissue of the security is not involved or when the presenter cannot use a bond of indemnity.

FAQ

Q: What is FS Form 1522?
A: FS Form 1522, also known as the Special Form of Request for Payment of United States Savings and Retirement Securities, is a document that certifies the request for payments from U.S. savings and retirement securities. It's especially used when a standard request is not possible or authorized.

Q: Who can use FS Form 1522?
A: FS Form 1522 can be used by the owner of U.S. Savings Bonds or Retirement Securities or a person authorized on the owner's behalf, such as a legal representative or a co-owner. It also applies to businesses, corporations, or organizations that legally own these types of securities.

Q: How to fill out FS Form 1522?
A: FS Form 1522 requires the bond owner's personal information, details about the security, the request for payment, and certification including a medallion signature guarantee, which is a special certification for the transfer of securities. The form must be signed in the presence of an authorized certifying officer.

Q: What is a Medallion Signature Guarantee and why is it needed for FS Form 1522?
A: A Medallion Signature Guarantee is a special certification stamp that ensures the identity of the person signing the document. It is required for FS Form 1522 to protect against fraudulent transactions. Financial institutions often provide this service.