Illinois College Savings Bonds were issued by the State of Illinois to provide individuals with a long-term investment option often used to fund college expenses.
When college savings bonds come due, investors have three options for collecting their money. Investors can mail their bond directly to the paying agent listed below, or present the bond in person at the office of the paying agent or Illinois State Treasurer in Springfield.
Frequently Asked Questions:
This table indicates where investors can collect their payments when bonds come due.
PLEASE NOTE
Effective October 1, 2013 the Walk in Facility for The Bank of New York has be closed. Effective December 1, 2013 the Mail –in for the Bank of New York in Chicago will be closed.
| Date of Issuance |
Paying Agent |
Original Paying Agent |
Mail-In |
Walk-In |
| January 1988 |
The Bank of New York Mellon Trust Company, N.A.
(800) 254-2826 |
FNB Chicago
Independence Bank Chicago |
The Bank of New York Mellon Trust Company, N.A.
2nd FL CT OPS SICB
111 Sanders Creek Pkwy
East Syracuse, NY 13057 |
Illinois State Treasurer's Office
400 West Monroe St.
Suite 305
Banking Division Springfield, IL 62704
Hrs: 8:00am-2:30pm CST
From 2:30pm-4:00pm check will be available on the next business day. |
| November 1989 |
FNB Chicago
Independence Bank Chicago |
| November 1990 |
Illinois State Treasurer's
Office-Banking Division
(217) 557-6575 |
FNB Chicago
Independence Bank Chicago |
| September 1991 |
FNB Chicago
Community Bank Lawndale |
| October 1992 |
FNB Chicago
Independence Bank Chicago |
Three collection scenarios are listed below. If your circumstances are not addressed in this section, contact the Illinois State Treasurer's banking division at (217) 782-2793 or contact the paying agent directly at the telephone numbers listed above.
If the payee is the registered bond holder, the following documentation must be provided in order to receive payment:
- Original certificate. Do not sign the back of it.
- Properly completed W-9 form, which can be obtained from the IRS website at www.irs.gov. Learn how to complete the form here.
If the payee is not the registered bond holder, the following documentation must be provided in order to receive payment:
- Original certificate must be signed by the registered bond holder(s) as it appears on the face of the certificate. Do not date it.
- The signature(s) must be Medallion Stamp Guaranteed.
- The endorsement must occur in the presence of the individual executing the Medallion Stamp Guarantee.
- Properly completed W-9 form, which can be obtained from the IRS website at www.irs.gov. Learn how to complete the form here.
- Payment instructions.
If the bond is registered as a custodian and the bondholder requests the payment be made to the minor given that they have reached the age of majority, the following documentation must be provided in order to receive payment:
- Contact either the paying agent or Treasurer’s Office to determine whether or not age of majority has been reached. This is determined by age and registration type.
- Original certificate must be signed by the minor as their name appears on the face of the certificate. Do not date it.
- The signature must be Medallion Stamp Guaranteed.
- The endorsement must occur in the presence of the individual executing the Medallion Stamp Guarantee.
- Properly completed W-9 form, which can be obtained from the IRS website at www.irs.gov. Learn how to complete the form here.
The Illinois State Treasurer’s Office cannot answer any questions pertaining to the completion of income taxes regarding these bonds. You will need to contact a tax preparer, the IRS or the Department of Revenue in the state where you are filing taxes.
Any questions regarding the Bonus Incentive Grant are to be directed to the:
Illinois Student Assistance Commission
(800) 899-4722
www.isac.org