I-Bond Scheme - Will This Work?

Investing
1

Here’s my plan to get an extra $5K/yr in I-Bonds.

Assuming I have sufficient FIT withheld and/or prepaid:

In December take $5K from an IRA (I take RMDs) and withhold all of it (99%) for FIT.

Then take the extra $5K FIT refund in an I-Bond instead of cash.

Will it work, is it legal?

2

Cant you just open up a bunch of single member LLCs and buy $10k of I Bonds in each one of them?

3

Nahh… For me, I don’t think it’s worth the trouble. But I did find out that a trust can buy them, maybe I’ll get two extra (in Dec/Jan) that way, plus the extra 5K in 2023 as an FIT refund. That’ll be $45K total.