Where to cash your EE bonds

You can cash EE savings bonds at most banks and credit unions, or directly through the U.S. Treasury. The easiest route for most people is their own bank — call ahead to confirm they handle savings bonds, then bring the bonds and a photo ID. If your bank does not cash them, ask for a referral to one that does, or go directly to the Treasury.

The Treasury's official route is TreasuryDirect.gov, where you can redeem bonds electronically if they are registered in your name and you have a TreasuryDirect account. This works only for bonds you bought through TreasuryDirect after 2003. For older bonds or paper bonds, you will need to use a bank or the Federal Reserve.

The Federal Reserve also cashes savings bonds at any of its regional banks. You can mail bonds to your regional Federal Reserve bank or visit in person. This route takes longer — typically two to three weeks by mail — but works for any EE bond regardless of age or how you bought it.

Key Takeaways

  • Your own bank is usually the fastest option; call first to confirm they cash savings bonds, then bring the bonds and photo ID.
  • You must wait until an EE bond reaches final maturity (30 years from issue) or you will lose all accrued interest if you cash it early.
  • The Treasury, Federal Reserve, and most banks all charge no fee to cash savings bonds.
  • You will receive a 1099-INT form at tax time for the interest earned, so keep records of the issue date and redemption date.

When you can cash an EE bond without penalty

EE bonds have a final maturity date of 30 years from the issue date printed on the bond. You can cash the bond at any time after you buy it, but if you cash it before it reaches final maturity, you forfeit all the interest it has earned. The bond simply returns to face value — what you originally paid for it.

For example, if you bought a $100 EE bond in 2010, it will not reach final maturity until 2040. If you cash it in 2025, you get $100 back and lose all 15 years of interest. If you wait until 2040, you receive the full matured value, which is typically double the face value (though the exact amount depends on the interest rate at purchase).

After the bond reaches final maturity, it stops earning interest. At that point, there is no reason to hold it — cash it and move the money elsewhere if you need it to grow.

What documents and information you need

Bring the physical bond itself and a photo ID — a driver's license, passport, or state ID card. The bank or Federal Reserve will verify that the name on the bond matches the ID you present. If the bond is registered to someone else, that person must be present with their own ID, or you will need a power of attorney document signed by the bond owner.

If you have lost the physical bond, you can still cash it, but the process is slower. Contact the Treasury's Savings Bond Division at 1-844-284-2676 or visit savingsbonds.gov. They will ask for the bond's serial number, issue date, and denomination. If you cannot provide these details, they may ask you to file a claim with proof of purchase or bank records showing the transaction.

For electronic redemption through TreasuryDirect, you do not need the physical bond — the system holds it digitally. Log in to your account, select the bond, and request redemption. The money will transfer to your linked bank account within one to three business days.

How long the process takes

At a bank, cashing usually takes the same day or the next business day. The teller will verify the bond, check your ID, and process the redemption. You may receive the money immediately in cash, or it may be deposited to your account if you request that instead.

Through TreasuryDirect, redemption takes one to three business days from the date you request it. The money goes directly to your linked bank account.

By mail to the Federal Reserve, expect two to three weeks. You will need to fill out a form, mail the bonds, and wait for processing and return of the funds. Some Federal Reserve banks offer in-person redemption, which is faster — check the website for your regional bank to see if they have a walk-in service.

Tax reporting when you cash bonds

The interest you earn on an EE bond is subject to federal income tax. When you cash the bond, the bank or Treasury will report the interest earned to the IRS on a Form 1099-INT. You will receive a copy in January of the year after you cash it.

The amount reported is the difference between what you cashed the bond for and what you originally paid. For example, if you paid $50 for a bond and cashed it for $75, the $25 difference is taxable interest. You report this on your tax return in the year you cash the bond, regardless of how many years you held it.

EE bond interest is not subject to state or local income tax in most states, but federal tax applies. If you have questions about how to report the interest, ask your tax preparer or contact the IRS directly.

What to do if the bond is damaged or lost

A damaged bond can usually still be cashed at a bank if enough of it is legible to identify the issue date, denomination, and serial number. Bring it with your ID and ask the teller to attempt redemption. If the damage is too severe, the bank will likely refer you to the Treasury.

For a lost bond, contact the Treasury's Savings Bond Division at 1-844-284-2676. You will need to provide the issue date, denomination, and serial number if you have it. If you do not have the serial number, provide any documentation of the purchase — bank statements, receipts, or old records. The Treasury can search their records and issue a replacement or process redemption directly to your bank account.

The process for a lost bond takes longer than a standard redemption, typically four to six weeks, because the Treasury must verify ownership and ensure the bond has not already been cashed.

Cashing bonds registered to a minor or deceased person

If the bond is registered to a minor, a parent or legal guardian must present the bond with their own ID and the child's birth certificate or other proof of the relationship. The funds will be paid to the guardian, not the child.

If the bond owner has died, the bond becomes part of their estate. The person handling the estate — the executor named in the will, or the next of kin if there is no will — can cash the bond. Bring the death certificate, proof of your authority to act on behalf of the estate, and your ID. Some banks may ask for additional documentation, such as a letter of administration from the court.

Frequently Asked Questions

Can I cash an EE bond before it matures?

Yes, but you will lose all the interest. The bond will return to its face value — what you paid for it. For example, a $100 bond cashed early returns $100, not the $200 it might be worth at maturity. Wait until the 30-year maturity date if you want the full value.

Do I have to pay a fee to cash my bond?

No. Banks, the Federal Reserve, and the Treasury all cash savings bonds for free. If someone charges you a fee, they are not a legitimate redemption source.

What if I do not know when my bond was issued?

The issue date is printed on the bond itself. If you cannot read it, contact the Treasury's Savings Bond Division at 1-844-284-2676 with the serial number, and they can look it up. If you have lost the bond, bring any documentation of the purchase to your bank and ask them to help you locate the information.

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

Not without a legal document. The person cashing the bond must either be the registered owner with a photo ID, or have a power of attorney signed by the owner. A simple note or verbal permission is not enough.

Will cashing my bond affect my taxes or benefits?

Cashing the bond itself does not affect your taxes — only the interest earned is taxable. However, the interest income may affect means-tested benefits like Medicaid or SNAP. If you receive benefits, contact your case worker before cashing a large bond to understand the impact.