Page 38 - Interest Income - Individuals

Change from Method 2 (1/2)

Method 2

 To change from method 2 to method 1, you must
request permission from the IRS. Permission for the
change is automatically granted if you send the IRS a
statement that meets all the following requirements.
1. You have typed or printed the following number
at the top: “131.” $
2. It includes your name and social security number
under “131.”
3. It includes the year of change (both the
beginning and ending dates).
4. It identifies the savings bonds for which you are
requesting this change.
5. It includes your agreement to:
a. Report all interest on any bonds acquired
during or after the year of change when the
interest is realized upon disposition,
redemption, or final maturity, whichever is
earliest; and
b. Report all interest on the bonds acquired
before the year of change when the interest
is realized upon disposition, redemption, or
final maturity, whichever is earliest, with the
exception of the interest reported in prior
tax years.

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