You can redeem a Series EE bond at your bank, through the Treasury Department, or online at TreasuryDirect
The easiest way to cash a Series EE bond depends on whether you have the physical bond or own it electronically. If you hold a paper bond, your bank is usually the fastest option — most banks will cash it the same day or within a few business days. If your bond is registered in TreasuryDirect (the Treasury's online system), you redeem it directly through your account without leaving home. The Treasury also accepts redemptions by mail if you prefer, though this takes longer.
You do not need to wait until a bond reaches its final maturity date to redeem it. Series EE bonds can be cashed any time after you have owned them for one year. If you redeem before five years have passed, you lose the last three months of interest as a penalty. After five years, there is no penalty — you simply get the current value of the bond.
Key Takeaways
- Series EE bonds can be redeemed at your bank, through TreasuryDirect online, or by mailing the bond to the Treasury — each method takes different amounts of time.
- You must own a Series EE bond for at least one year before you can redeem it, and redeeming before five years costs you three months of interest.
- Paper bonds require your signature and proof of identity at the bank, while electronic bonds in TreasuryDirect need only your login credentials.
- The Treasury sends redemption money by check or electronic transfer, depending on which method you use and which option you choose.
Cashing a paper Series EE bond at your bank
Walk into any bank where you have an account and ask to redeem your savings bond. Bring the physical bond itself, your government-issued ID, and your Social Security number. The teller will verify that the bond is genuine, check that you meet the one-year holding requirement, and calculate the current value based on the issue date and current interest rate.
You will sign the back of the bond in front of the teller. Some banks require you to sign it beforehand; others require you to sign it at the window. Ask when you call or arrive. The bank will then give you cash or deposit the proceeds directly into your account — whichever you prefer. Most banks complete this same day, though some may take one to three business days if they need to verify the bond with the Treasury.
If you do not have a bank account at the institution, many banks will still cash the bond for a small fee, usually between $5 and $15. Call ahead to confirm they accept savings bonds and what their fee is. Some credit unions also cash savings bonds for members.
Redeeming through TreasuryDirect online
If your Series EE bond is registered in TreasuryDirect, log into your account at treasurydirect.gov using your username and password. Navigate to the "Manage Securities" section and select the bond you want to redeem. The system will show you the current value and confirm that the bond meets the one-year minimum holding period.
Click "Redeem" and choose how you want to receive the money. TreasuryDirect offers two options: a check mailed to your address, or an electronic transfer to a U.S. bank account. Electronic transfer is faster — the Treasury typically sends the money within two to three business days. A check takes five to seven business days after the Treasury processes your request.
The redemption is final once you submit it. You cannot cancel or reverse the transaction, so double-check the bond and the amount before you confirm. The Treasury does not charge a fee for online redemption.
Mailing a bond to the Treasury
If you prefer not to use a bank or TreasuryDirect, you can mail your paper bond directly to the Bureau of the Fiscal Service, which handles savings bonds for the Treasury. Include a letter stating that you want to redeem the bond, your name, address, Social Security number, and the bond's serial number and issue date. Sign the letter and the back of the bond.
Mail the bond and letter to: Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. Include a return address so the Treasury can send you a check. The process takes four to six weeks from the time the Treasury receives your package. There is no fee, but this method is the slowest option and carries the small risk that the bond could be lost in the mail.
Keep a copy of your letter and note the date you mailed the package. If you do not receive a check within eight weeks, contact the Treasury's Savings Bonds customer service line at 1-800-553-2663 to track your redemption.
What happens to the interest you earned
When you redeem a Series EE bond, you receive the original purchase price plus all the interest it has earned up to the redemption date. The interest is taxable income in the year you redeem the bond, even though you may have owned it for many years. The Treasury does not withhold taxes automatically — you will owe federal income tax on the interest when you file your return.
If you redeem the bond before five years have passed, the Treasury deducts three months of interest as a penalty. For example, if a bond has earned $100 in interest but you redeem it after three years, you receive only $75 in interest. This penalty applies only to paper bonds redeemed before the five-year mark; electronic bonds in TreasuryDirect follow the same rule.
Some states tax savings bond interest, and some do not. Check your state's tax rules or speak with a tax professional if you are unsure whether you owe state tax on the interest.
What to do if you have lost or damaged a bond
If your paper Series EE bond is lost, stolen, or damaged beyond use, you can still redeem it or replace it. Contact the Treasury's Savings Bonds customer service at 1-800-553-2663 or file a claim online through treasurydirect.gov. You will need to provide the bond's serial number, issue date, and denomination if possible. The Treasury will verify the bond in its records and either issue a replacement or process a redemption.
If you cannot remember the serial number or issue date, the Treasury can search its database using your name and Social Security number. This search takes longer — usually several weeks — but it is still possible to recover the bond's value. Keep any paperwork related to the bond purchase, such as a receipt or bank statement, to speed up the process.
Frequently Asked Questions
Can I redeem a Series EE bond before one year has passed?
No. Series EE bonds must be held for at least one year before redemption. If you need the money sooner, you will have to wait or find another source of funds. After one year, you can redeem at any time, though redeeming before five years costs you three months of interest.
Do I have to redeem the entire bond, or can I cash in part of it?
You must redeem the entire bond. You cannot split a Series EE bond or redeem a portion of it. If you own multiple bonds, you can choose which ones to redeem and leave the others untouched.
What if the bond is registered to someone else or to a minor?
If you are the registered owner, you can redeem it. If the bond is registered to someone else, that person must redeem it or authorize you in writing. If the owner is deceased, the person handling the estate can redeem it with a copy of the death certificate and proof of their authority to act on behalf of the estate.
Will redeeming a savings bond affect my taxes or benefits?
The interest you earn is taxable income, so it may affect your federal income tax. It generally does not affect Social Security or Medicare benefits, but means-tested benefits like Supplemental Security Income or Medicaid may be affected depending on your state and the amount redeemed. Speak with a tax professional or benefits counselor if you are concerned about how redemption might affect your situation.
How do I know the current value of my bond before I redeem it?
The Treasury publishes current bond values on treasurydirect.gov. You can look up your bond by entering its series, denomination, and issue date. Your bank can also tell you the current value when you bring the bond in. TreasuryDirect shows the value in your account if the bond is registered there.