Application for redemption of postal bonds (ordinary or term postal savings bonds and bearer and registered savings books)
WHO can apply for refunds?
Ente Poste Italiane S.p.A. makes refunds of postal savings bonds, passbooks and interest-bearing postal savings bonds held in Italy by Italian and foreign citizens residing abroad.
When interest-bearing postal savings bonds are jointly held by several persons, the refund, unless this option was excluded at the time of subscription, is disbursed for each holder. So, for example, in the case of a postal bond jointly held by Mario and Antonio ROSSI both Mario and Antonio alone can redeem it. However, in the case where one of the two joint holders is deceased, a different procedure applies.
HOW?
The holder of the savings bond requesting a refund must fill out two forms:
– the W14 form from Poste Italiane S.p.A. (the link will open in a new tab);
– a form to choose the method of payment (the link will open in a new tab) between the two indicate below:
(a) Ente Poste bank check addressed by mail to the applicant;
(b) direct bank transfer from Ente Poste to the applicant’s own Current Account (specify in this case, in addition to the number of Current Account, Bank and Agency, also the SWIFT Code).
Other documents required are:
– Valid Italian or Canadian identity document (preferably passport) plus a photocopy;
– Italian Tax code (Codice Fiscale) issued by the Italian Ministry of Finance.
– Postal Bonds and/or Postal Savings Books must be presented for reimbursement in original. It is recommended to make a double-sided photocopy for BMPs and photocopy of the first page of the book’s header and the one containing the balance for Savings Books.
The applicant must sign in person at a “Patronato” (see list available here) or in the presence of an Honorary Vice Consul (see list here) and the signature must be notarized/authenticated.
Alternatively, for the redemption of the securities, the interested party may proceed with a mandate to a proxy in Italy through a special power of attorney deed where the relevant vouchers and/or postal passbooks and their amount must appear listed in order of issue. Such power of attorney must be drawn up by this Consulate General or by a lawyer/notary public (see list, link will open in a new tab) whose signature is filed with this Consulate General for legalization purposes.
To apply for a signature legalization, you must send by mail, to the address of the Consulate General of Italy in Toronto, 136 Beverley Street, M5T 1Y5, Toronto, Ontario:
- a request on plain paper, in which you should indicate your contact information (address, email address and telephone number) and specify that you require the legalization service;
- a money order made out to CONSULATE GENERAL OF ITALY TORONTO (it is recommended that you email toronto.notarile@esteri.it for information on the current consular fee for legalization);
- a pre-paid, pre-addressed XpressPost envelope (or a courier service envelope with a tracking number) for the return of the legalized forms.
Please make sure to fill out the “method of payment” form correctly, with all the information required. Data must be legibly written, paying particular attention, in the case of the choice of credit to the account, to the description of the international account number of the beneficiary and its header, the international code of the bank (Swift Code) that manages the account and the contact details of the banking institution (address, telephone number and fax number).
It should be noted that any fees or charges requested by the foreign bank shall be borne by the beneficiary.
WHERE?
The applicant may send all necessary documentation for reimbursement (registered mail is recommended) to the following address:
Poste Italiane Divisione Bancoposta
Direzione Operazioni
Servizio Risparmi
Via di Torpagnotta, 2
00143 ROMA
N.B.: Declarations relating to the transportation of “cash” in the amount of 10,000 euros or more should be submitted only to Customs Offices. If the value is over 10,000 euros, complete this declaration form.
WHAT IF A HOLDER-CO-INTESTEE OF THE SAVINGS BOND IS DECEASED?
REFUND IN CASE A JOINT HOLDER OF THE POSTAL OR SAVINGS BOND IS DECEASED
In case of the death of the holder/co-holder of postal bonds or savings books:
1. The deceased had Italian citizenship and resided in Canada on the date of death
List of documents:
1) Death certificate issued by the Italian municipality, if already transcribed in Italy, or Canadian death certificate translated into Italian and legalized by the Consulate General or Apostilled by Canadian Authorities;
2) Copy of the deceased person’s Italian passport;
3) Any will legalized and translated into Italian;
4. A) Declaration in lieu of affidavit pursuant to Presidential Decree 445 of 12/28/2000 – made by an heir of Italian citizenship – reflecting the status of the succession (at the Consulate General);
4. B) Notarial Act in Italian language (affidavit) issued by a lawyer or notary public (see list) and legalized if all heirs are of Canadian citizenship;
5) Form W14 filled out by all heirs or by only one heir, but in possession of the power of attorney issued by the other co-heirs, in any case with authenticated/notarized signature (*);
6) Form “method of payment” of Postal Certificates or Passbook filled out and with signature authenticated/notarized (*);
7) Interest-bearing bonds or postal passbooks in original;
8) Identification document of the declarant (national passport and driver’s license);
9) In case there are other heirs not listed in the affidavit who are listed in the postal bonds or passbooks, they shall issue Power of Attorney to collect to the person who will apply for redemption.
2. The deceased had Canadian (or foreign) citizenship
List of documents:
1) Death certificate issued by the Italian municipality, if already transcribed in Italy, or Canadian death certificate translated into Italian and legalized by the Consulate General or apostilled by Canadian Authorities;
2) Copy of the deceased’s Canadian passport and/or naturalization certificate;
3) Any will legalized and translated into Italian;
4) Certificate proving the succession according to Canadian law indicating the heirs to whom the estate is to be liquidated, issued by the competent Authority or a Canadian lawyer – translated into Italian and legalized;
5. A) Declaration in lieu of affidavit pursuant to Presidential Decree 445 of 28/12/2000 – made by an heir of Italian citizenship – reflecting the status of the succession (at the Consulate);
5. B) Notarial Act in Italian language (affidavit) issued by a lawyer or notary public (see list) and legalized if all heirs are of Canadian citizenship;
6) Form W14 filled out by all heirs or by only one heir, but in possession of the power of attorney issued by the other co-heirs, in any case with authenticated/notarized signature (*)
7) Form “method of payment” of Postal Certificates or Passbook filled out and with signature authenticated/notarized (*);
8) Interest-bearing bonds or postal passbooks in original;
9) Identification document of the declarant (national passport and driver’s license);
10) In case other heirs not listed in the affidavit are listed in the postal bonds or passbooks, they shall issue Power of Attorney for collection to the person who will apply for redemption.
N.B.
– For married Canadian citizens, a marriage certificate is required in addition to a valid ID.
– (*) Signatures may be authenticated either by a Commissioner of Oath, an Honorary Vice Consul, an official of the Consulate General or by a Canadian lawyer or Notary Public. In the latter case, the document must also be legalized by the Consulate General.
READ MORE
List of frequently asked questions about savings bonds available on the Italian Postal Service website;
More F.A.Q.
Canadian legislation on inheritance (legitimate or testamentary)
Italian legislation on inheritance (legitimate or testamentary)
Private international law (Law No. 218/1995). See Art. 46 succession by reason of death.
In case of succession (in Canada or Italy), it is recommended to contact a professional.