Patriot Bonds mature on a fixed schedule set when you buy them
Patriot Bonds are Series EE savings bonds issued after December 10, 2001, with the word "Patriot" printed on the certificate. They mature—meaning the U.S. Treasury stops paying interest—30 years after the issue date printed on the bond itself. If you bought a Patriot Bond on March 15, 2005, it matures on March 15, 2035. That date does not change, and you cannot extend it.
The maturity date is fixed at purchase and appears on your bond certificate or in your TreasuryDirect account if you hold the bond electronically. You do not need to do anything to make the bond mature; it happens automatically. What you do after maturity is your choice—you can cash it in, let it sit, or move the money elsewhere.
Patriot Bonds stop earning interest the moment they reach their maturity date. Any interest earned up to that point is locked in. If you do not cash the bond within a reasonable time after maturity, the Treasury will eventually stop paying interest altogether, though the bond itself remains valid and redeemable.
Key Takeaways
- Patriot Bonds mature exactly 30 years from their issue date, which is printed on the certificate or shown in TreasuryDirect.
- Interest stops accruing on the maturity date, so holding the bond beyond that point earns you nothing.
- You can cash a Patriot Bond at any time after it matures, with no penalty for waiting.
- If you lose track of your bond's maturity date, you can look it up through TreasuryDirect or contact the Treasury Department.
How to find your Patriot Bond's exact maturity date
If you hold your bond electronically through TreasuryDirect (the Treasury's online system), log in to your account and view your holdings. The maturity date appears next to each bond. This is the fastest way to check if you have multiple bonds or cannot locate the physical certificate.
If you have a paper Patriot Bond, the issue date is printed on the front of the certificate. Count forward 30 years from that date to find the maturity date. For example, a bond issued January 1, 2010, matures January 1, 2040. You do not need to contact anyone; the math is straightforward.
If you have lost the certificate and do not have a TreasuryDirect account, you can contact the Treasury Department's Bureau of the Fiscal Service. They maintain records of registered bonds and can tell you the issue date and maturity date if you provide your Social Security number and other identifying information. This process takes longer than checking TreasuryDirect but is reliable.
What happens when a Patriot Bond reaches maturity
On the maturity date, the bond stops earning interest. The principal (the amount you paid) plus all interest earned up to that date becomes the total value of the bond. You can then cash it in at any bank or through TreasuryDirect without penalty.
You are not required to cash the bond immediately after maturity. Many people hold mature bonds for months or years without consequence. The bond remains valid and redeemable at its full matured value. However, the longer you wait after maturity, the greater the risk of loss, damage, or misplacement of the physical certificate.
If you hold the bond in TreasuryDirect, there is no physical certificate to lose, and you can cash it whenever you choose. The account is secure and the bond will not disappear.
Cashing in a mature Patriot Bond
If your bond is in TreasuryDirect, you can redeem it online by logging into your account, selecting the bond, and requesting payment. The money is deposited into your linked bank account within a few business days. There is no fee for this transaction.
If you have a paper bond, take it to any bank or credit union and ask to redeem it. Most financial institutions will cash savings bonds for their customers at no charge. Bring a photo ID. The teller will verify the bond, check that it has reached maturity, and process the payment. You receive a check or deposit to your account, depending on the bank's process.
If your bank declines to cash the bond (some smaller institutions do not handle this), contact the Treasury Department directly. They can redeem the bond by mail. Send the certificate, a completed form, and a copy of your ID to the Bureau of the Fiscal Service. Processing takes several weeks by mail, so this is slower than using a bank.
Tax implications when you cash a mature Patriot Bond
When you redeem a Patriot Bond, you owe federal income tax on the interest earned, not on the principal. The amount of interest is the difference between what you paid and what you receive. For example, if you paid $50 for a bond and cash it for $100 at maturity, the $50 is taxable interest.
You can report this interest on your federal tax return for the year you cash the bond, or you can choose to report it each year as it accrues (though most people wait until redemption). The Treasury will not send you a 1099 form for savings bonds; you are responsible for tracking the interest and reporting it.
State and local taxes do not apply to savings bond interest, including Patriot Bonds. This is one advantage of holding these bonds—the interest is exempt from state and local income tax, even though it is subject to federal tax.
What to do if you cannot find a mature Patriot Bond
If you remember buying a Patriot Bond but cannot locate the certificate and do not have a TreasuryDirect account, the Treasury Department can search their records. Contact the Bureau of the Fiscal Service with your name, Social Security number, and approximate purchase date. They will search for registered bonds in your name and provide details about any they find.
If the bond was registered to you (meaning your name is on the certificate), you have a legal claim to it even if the physical certificate is lost. The Treasury can issue a replacement certificate or allow you to redeem it directly. This process requires documentation and takes time, but the bond does not disappear simply because you lost the paper.
If you inherited a Patriot Bond from someone else, the process is similar but requires proof of your relationship to the original owner and possibly a copy of their death certificate. Contact the Treasury Department for specific instructions based on your situation.
Frequently Asked Questions
Can I cash a Patriot Bond before it matures?
Yes, but with a penalty. If you cash a Patriot Bond before it has been held for five years, you lose the last three months of interest. After five years, you can cash it with no penalty, but you still receive less interest than if you held it to maturity. Most people wait until maturity to avoid losing interest.
Do Patriot Bonds earn interest after they mature?
No. Interest stops accruing on the maturity date. If you hold the bond after maturity without cashing it, you earn nothing. The bond's value does not increase, and you are simply holding cash in certificate form.
What if I cannot remember when I bought my Patriot Bond?
Contact the Treasury Department's Bureau of the Fiscal Service with your name and Social Security number. They can search their records and tell you the issue date, which determines the maturity date. You can also check TreasuryDirect if you have an account there.
Can I roll the money from a mature Patriot Bond into another savings bond?
Yes. When you redeem a mature Patriot Bond, you can use the proceeds to purchase new Series EE or Series I bonds through TreasuryDirect. There is no limit on how much you can reinvest, though annual purchase limits apply to new bonds (currently $10,000 per person per calendar year for electronic bonds).