Where to cash your Series EE bond

You can cash a Series EE bond at most banks and credit unions, or directly through the U.S. Treasury if you own the bond in electronic form. The easiest route depends on whether your bond is paper or digital.

For a paper bond, walk into any bank or credit union where you have an account and ask to redeem it. You do not need to be a customer there — many banks will cash bonds for non-customers, though some charge a small fee. Call ahead to confirm they handle savings bonds and ask whether they charge.

For an electronic bond held in TreasuryDirect (the Treasury's online system), you log into your account, select the bond, and request a redemption. The money lands in your linked bank account within a few business days.

Key Takeaways

  • Paper Series EE bonds can be cashed at most banks and credit unions; call first to confirm they handle bonds and whether there is a fee.
  • Electronic bonds held in TreasuryDirect are redeemed by logging into your account and requesting a redemption through the website.
  • You must wait at least one year from the purchase date before cashing any Series EE bond, or you lose the last three months of interest.
  • The bond's redemption value is printed on the paper certificate or shown in your TreasuryDirect account; that is what you receive.
  • Bring a photo ID and the physical bond certificate to a bank; for electronic bonds, you need only your TreasuryDirect login.

The one-year holding period and interest penalty

Series EE bonds have a one-year minimum holding period. If you cash the bond before one year has passed, you forfeit the last three months of interest. This means if you bought the bond six months ago, you lose six months of earnings when you redeem it.

After one year, you can cash at any time without penalty. The longer you hold the bond, the more interest it earns. Series EE bonds earn interest for 30 years, but most people cash them long before that. Check the redemption value in your TreasuryDirect account or on the paper certificate itself — that number tells you exactly what you will receive.

What to bring to the bank

For a paper bond, bring the physical certificate and a photo ID (driver's license, passport, or state ID). The teller will verify the bond is genuine, confirm you are the registered owner, and process the redemption on the spot.

Some banks ask you to sign the back of the bond in front of the teller. If the bond is registered to two people, both must be present and sign, or one person must have a power of attorney document. If the bond is registered to a minor, a parent or legal guardian must bring their ID as well.

For electronic bonds, you need only your TreasuryDirect username and password. No ID is required because the Treasury already verified your identity when you created the account.

How long redemption takes

At a bank, you typically receive the cash or a check the same day. Some banks deposit the funds directly to your account if you request it; ask the teller whether that option is available.

Through TreasuryDirect, redemptions take two to three business days. The money is sent to the bank account you linked to your TreasuryDirect account when you set it up. You can check the status of your redemption by logging back into TreasuryDirect and viewing your transaction history.

What happens if the bond is lost or damaged

If your paper bond is lost, stolen, or damaged beyond recognition, you can request a replacement through the Treasury. Go to the Treasury's Savings Bond Replacement Program page, fill out Form FS Form 1048 (Statement Regarding Lost, Stolen, or Destroyed Savings Bonds), and mail it with any supporting documents (like a police report if the bond was stolen).

The process takes several weeks. You will need to provide the bond's series, denomination, issue date, and serial number if you have them. If you do not have those details, provide as much information as you can remember — the Treasury can often locate the bond in their records using your Social Security number and the approximate purchase date.

If the bond is simply damaged but still readable, most banks will still cash it. If a bank refuses, contact the Treasury directly through TreasuryDirect or mail the bond to the Bureau of the Fiscal Service with a letter explaining the damage.

Tax reporting when you cash the bond

The interest earned on a Series EE bond is subject to federal income tax. You do not pay tax when you cash the bond — instead, you report the interest on your tax return for the year you redeem it.

The bank or Treasury does not send you a tax form automatically. You calculate the interest yourself by subtracting what you paid for the bond from the redemption value you received. For example, if you paid $50 for the bond and cashed it for $75, you owe tax on $25 of interest.

If you bought the bond with Series EE bonds purchased after 1989 and used the proceeds for education expenses (tuition or fees at an accredited school), you may be able to exclude some or all of the interest from your taxable income. This is called the Education Savings Bond Program. You will need to report this on your tax return using Form 8815.

Cashing a bond registered to someone else

If the bond is registered in your name only, you are the only person who can cash it. If it is registered to two people (co-owners), both must be present at the bank, or one person must have a power of attorney document signed by the other owner.

If the bond owner has died, the person handling the estate (the executor or administrator) can cash it. Bring the death certificate, proof of your authority to handle the estate (like a court order or the will), and your ID. Some banks require additional paperwork; call ahead to ask what they need.

Frequently Asked Questions

Can I cash a Series EE bond before one year?

Yes, but you lose the last three months of interest. If you bought the bond less than a year ago, you forfeit that much earnings. After one year, you can cash without penalty.

What if my bank says they do not cash savings bonds?

Try another bank or credit union in your area — most do. If you cannot find one locally, you can mail the bond to the Bureau of the Fiscal Service with a letter requesting redemption. The process takes several weeks. For electronic bonds, use TreasuryDirect instead.

Do I get a tax form when I cash the bond?

No. You report the interest on your own tax return. Calculate it by subtracting your purchase price from the redemption value. If you used the bond for education, you may be able to exclude the interest using Form 8815.

What if I lost the paper bond certificate?

Contact the Treasury's Savings Bond Replacement Program. Fill out Form FS Form 1048 and mail it with any details you remember about the bond (issue date, denomination, serial number if you have it). The Treasury can usually find it using your Social Security number and approximate purchase date.

Can someone else cash my bond if I give them permission?

Not without legal documentation. If you want someone else to cash the bond on your behalf, you need to sign a power of attorney document that specifically authorizes them to do so. The bank will need to see this document along with your ID.