Where to redeem your EE bonds

You can redeem EE bonds at most banks and credit unions, or directly through the U.S. Treasury's TreasuryDirect website. The bank or credit union route is fastest if you already have an account there — you walk in with the bond, show ID, and they handle it. TreasuryDirect is the direct route if you own the bonds electronically (meaning they exist only in your online account, not as paper certificates).

Paper bonds can only be redeemed at a financial institution — the Treasury itself does not cash physical certificates. If your bonds are registered on TreasuryDirect, you can redeem them without leaving your house by logging into your account and requesting the redemption online. The money lands in your linked bank account within a few business days.

Key Takeaways

  • Paper EE bonds must be cashed at a bank or credit union; electronic bonds can be redeemed through TreasuryDirect online.
  • You need the bond itself (if paper), a valid photo ID, and a Social Security number or tax ID to redeem.
  • EE bonds must be at least one year old to redeem, and you lose the last three months of interest if you cash them before five years.
  • The financial institution or TreasuryDirect deposits the redemption amount into your bank account within a few business days.

What you need to bring to a bank or credit union

Bring the physical bond certificate itself, a valid photo ID (driver's license, passport, or state ID), and know your Social Security number. The bank will ask you to sign the back of the bond in front of a teller. If someone else is listed as a co-owner on the bond, both owners must be present and sign.

If you have lost the bond certificate, you can request a replacement through TreasuryDirect or by mailing Form PD 1048 to the Bureau of the Fiscal Service. This takes several weeks. If the bond is registered to a minor or to someone who has died, the process is different — contact the bank first to ask what documents they need.

The one-year rule and the five-year penalty

EE bonds cannot be redeemed until they are at least one year old. If you try to cash one before that date, the bank will refuse. This is a hard rule with no exceptions.

If you redeem an EE bond before it has been held for five years, you lose the last three months of interest. This means if you bought a bond on January 15 and redeem it on March 1 of the same year, you get back your principal plus interest only through December 15 of the previous year. The three-month penalty applies no matter how old the bond is, as long as it is under five years old. After five years, you can redeem without any interest penalty.

How to redeem bonds on TreasuryDirect

Log into your TreasuryDirect account at treasurydirect.gov using your username and password. Click on "Manage My Securities" and find the bond you want to redeem. Select the bond and choose "Redeem" from the menu. You will see the redemption amount — this is the principal plus all accrued interest, minus the three-month penalty if the bond is under five years old.

Confirm the redemption and choose which bank account to deposit the money into. TreasuryDirect will deposit the funds within one to three business days. You will receive an email confirmation with the transaction details. There is no fee for redeeming through TreasuryDirect.

What happens at the bank when you redeem

The teller will examine the bond to confirm it is genuine and that the serial number matches your ID. They will ask you to endorse (sign) the back of the bond. If the bond is registered to you alone, you sign once. If it is registered to two people, both must sign in front of the teller.

The bank will then calculate the redemption value — principal plus interest, minus any applicable penalty — and ask where you want the money deposited. You can deposit it into an account at that bank, at a different bank, or request a check. Most banks deposit the money the same day or within one business day. Some banks charge a small fee (usually $5 to $10) to redeem bonds, though many do not — ask before you hand over the bond.

Redeeming bonds owned by a minor or deceased person

If the bond is registered to a minor, a parent or legal guardian must bring the minor's birth certificate and their own ID to redeem it. Some banks require a court order or guardianship papers if the guardianship is not obvious from the birth certificate.

If the bond owner has died, the person redeeming it must bring a death certificate, proof of their relationship to the deceased (such as a will or inheritance document), and their own ID. The bank may require additional paperwork depending on the estate situation. Contact the bank ahead of time to ask what documents they need — this process varies by institution.

Tax reporting when you redeem

When you redeem an EE bond, you owe federal income tax on the interest you earned. The amount of interest is the redemption value minus what you originally paid for the bond. You do not owe tax on the principal itself, only on the earnings.

The financial institution or TreasuryDirect does not automatically report the redemption to the IRS or send you a tax form. You are responsible for reporting the interest income on your federal tax return. If you redeemed bonds in a given year, add up all the interest from all bonds redeemed that year and report it as interest income on your Form 1040. Keep your redemption receipts for your records.

Frequently Asked Questions

Can I redeem just part of a bond?

No. EE bonds are redeemed as a whole unit. You cannot cash in half a bond or a portion of it. If you own multiple bonds, you can choose which ones to redeem and leave others untouched.

What if my bank says they do not redeem bonds?

Some smaller banks or credit unions do not offer bond redemption services. If yours does not, you can redeem paper bonds at any other bank or credit union in the country — you do not have to use the bank where you hold your checking account. Call ahead to confirm they redeem EE bonds before you go in.

How long does it take to get the money?

At a bank or credit union, the money is usually deposited the same day or within one business day. Through TreasuryDirect, it takes one to three business days. Weekends and federal holidays do not count as business days.

Do I have to redeem all my bonds at once?

No. You can redeem one bond, some of your bonds, or all of them. Each bond is separate, so you can spread redemptions across different months or years if you want to manage the tax impact.

What if I lost my bond certificate years ago?

You can request a replacement certificate by contacting TreasuryDirect or mailing Form PD 1048 to the Bureau of the Fiscal Service. The process takes several weeks. Once you receive the replacement, you can redeem it like any other bond.