How to Cash an EE Bond: Step-by-Step

You can cash an EE bond at most banks, through the Treasury Department, or by mail—but you need the bond itself and proof of ownership

An EE bond is a savings bond issued by the U.S. Treasury. To cash one, you have three main routes: walk into a bank with the bond and your ID, mail it to the Treasury Department, or use the Treasury's online system if you own it digitally. The method you choose depends on whether you have the physical bond in hand, whether you need the money quickly, and whether the bond has reached its final maturity date.

The simplest route for most people is a bank. Any bank that offers savings bond services will cash it on the spot if you bring the bond itself and a government-issued ID. If you have lost the physical bond or own it only in digital form through TreasuryDirect, you will need to go through the Treasury Department instead, which takes longer but still works.

Key Takeaways

Banks cash EE bonds immediately if you bring the bond certificate and a government ID, with no fee charged to you.
You can mail a bond to the Treasury Department's Bureau of the Fiscal Service with a form, though this takes several weeks.
Digital EE bonds held in TreasuryDirect can be redeemed online through your account without mailing anything.
EE bonds earn interest for 30 years, but you can cash them after five years without penalty—cashing before five years means you lose the last three months of interest.
The Treasury will not cash a bond unless you can prove you own it, so bring your ID and be prepared to sign the bond in front of a bank officer or notary.

Cashing a physical EE bond at a bank

Bring the bond certificate itself, a government-issued photo ID, and go to any bank that cashes savings bonds. Most large national banks and community banks offer this service, though you should call ahead if you use a small local bank. The teller will verify that the bond is legitimate, check that you are the registered owner or an authorized representative, and give you the cash value right away.

You will need to sign the bond in front of the bank officer. If the bond is registered to someone else and you are cashing it on their behalf, you will need a power of attorney or a letter from the owner authorizing you to cash it. If the bond is registered to two people (co-owners), both must be present and sign, unless the bond says "or" between the names rather than "and"—in that case, either owner can cash it alone.

The bank will not charge you a fee to cash the bond. The amount you receive is the current redemption value, which you can look up on the Treasury Department's website before you go in. Bring a pen in case the bank does not have one, and expect the process to take 10 to 15 minutes.

Mailing a bond to the Treasury Department

If you cannot reach a bank or have lost the physical bond, you can mail it to the Bureau of the Fiscal Service. You will need to fill out Form PD 1239 (Statement Regarding Inherited Savings Bonds) or Form 8888 (Allocation of Refund), depending on your situation. For a straightforward redemption, most people use Form PD 1239. You can download both forms from the Treasury Department's website.

Include the bond itself (or a certified copy if it is lost), the completed form, a copy of your government ID, and a letter explaining that you want to redeem the bond. Mail everything to the address listed on the form. The Treasury will verify your ownership, process the redemption, and mail you a check. This process typically takes four to six weeks.

If the bond is lost and you do not have a certified copy, you will need to file a claim with the Treasury Department first. This adds time to the process. If the bond was issued before 1974, the Treasury may require additional documentation to prove ownership.

Redeeming a digital EE bond through TreasuryDirect

If you own an EE bond through TreasuryDirect (the Treasury's online platform), you do not need to mail anything. Log into your TreasuryDirect account, find the bond you want to redeem, and select the redemption option. The money will be deposited into the bank account you have linked to your TreasuryDirect account within one to three business days.

You must have set up a TreasuryDirect account to own digital bonds in the first place, so if you have one, you already have the login information. If you have forgotten your password, you can reset it on the TreasuryDirect website. Digital bonds are easier to redeem than physical ones because there is no mail time and no risk of losing the certificate.

When you can cash an EE bond without penalty

EE bonds earn interest for 30 years. You can cash one at any time after you own it, but the timing affects how much interest you receive. If you cash the bond five years or more after you bought it, you get the full current value. If you cash it before five years have passed, you lose the last three months of interest as a penalty.

For example, if you bought an EE bond three years ago and it is now worth $550, cashing it now would give you $535 (the value minus three months of interest). If you wait two more years and cash it, you would get the full $550 or more, depending on how much interest it has earned in the meantime.

There is no federal tax penalty for cashing an EE bond early, but you will owe federal income tax on the interest you earned. You do not owe tax on the original amount you paid—only on the gain. The bank or Treasury will not withhold taxes automatically, so you may owe taxes when you file your return.

What to bring and what to expect

For a bank redemption, bring the bond itself, a government-issued photo ID (driver's license, passport, or state ID), and a pen. Arrive during business hours and go to the teller or customer service desk. Tell them you want to redeem a savings bond. They will ask you to sign the bond in their presence and will verify the information. The whole process takes about 15 minutes.

If you are redeeming a bond that belongs to someone else, bring a power of attorney document or a notarized letter from the owner. If the bond is registered to a deceased person, bring a death certificate and proof that you are the executor or heir. Different banks may have slightly different requirements, so call ahead if you are in an unusual situation.

For a mail redemption, gather the bond, the completed form, a copy of your ID, and a cover letter. Use certified mail with tracking so you can confirm the Treasury received it. Keep copies of everything you send. The Treasury will send you a check to the address on file, so make sure that address is current.

Finding the current value of your bond

Before you cash your bond, you can look up its current redemption value on the Treasury Department's website. Go to the Savings Bond Calculator, enter the bond series (EE), the issue date, and the denomination (the amount you paid for it). The calculator will show you what it is worth today and what it will be worth on future dates.

The value shown is what you will receive if you cash it today. If you wait longer, the value will increase as the bond earns more interest. You can check the value as many times as you want without affecting the bond. The calculator is free and does not require you to log in.

Frequently Asked Questions

Can I cash an EE bond before it reaches 30 years?

Yes. You can cash an EE bond at any time after you own it. If you cash it five years or more after purchase, you get the full value. If you cash it before five years, you lose the last three months of interest, but there is no other penalty or fee.

What if the bond is registered to a deceased person?

You will need to bring a death certificate and proof that you are the executor, heir, or beneficiary named on the bond. Different banks handle this differently, so call ahead. The Treasury Department can also process this by mail if you include the required documents.

Do I owe taxes when I cash an EE bond?

You owe federal income tax on the interest the bond earned, but not on the original amount you paid. You do not owe the tax until you file your return—the bank will not withhold it automatically. Some states also tax bond interest, depending on where you live.

What if I lost the physical bond?

Contact the Treasury Department's Bureau of the Fiscal Service. You will need to file a claim and provide proof of purchase if you have it. The process takes longer than a normal redemption, but the Treasury can still pay you if you can prove you owned the bond.

Can someone else cash my EE bond for me?

Yes, but only with your written permission. You will need to provide a power of attorney or a notarized letter authorizing them to redeem it. They will still need to bring their own ID and sign the bond in front of the bank officer or notary.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.