How to Cash In Series EE Savings Bonds

You can cash Series EE bonds at your bank, through the Treasury Department, or by mail — but the method depends on whether the bond is in paper or electronic form

Series EE bonds come in two versions: paper bonds you hold physically, and electronic bonds stored in an online Treasury account. Paper bonds can be cashed at most banks and credit unions without an appointment. Electronic bonds (also called I Bonds when issued after 2003) are redeemed through your TreasuryDirect account online. The fastest route is usually your bank if you have a paper bond; the most straightforward for electronic bonds is logging into TreasuryDirect and requesting the redemption yourself.

Before you cash any bond, check its issue date. Series EE bonds issued before May 2003 are paper only. Bonds issued May 2003 and later are electronic by default, though you can request paper versions. The method you use to redeem depends entirely on which form you have.

Key Takeaways

Paper Series EE bonds can be cashed at your bank or credit union by presenting the bond and a valid ID, with no appointment needed at most institutions.
Electronic Series EE bonds are redeemed through your TreasuryDirect account online, and the funds arrive in your linked bank account within one to three business days.
You can cash a Series EE bond anytime after you own it, but you will forfeit the last three months of interest if you redeem it before five years have passed.
The Treasury Department will mail you a check if you cannot reach a bank, though this method takes longer and requires you to mail the bond itself.
You will receive a 1099-INT form at tax time for the interest earned, which counts as taxable income in the year you redeem the bond.

Cashing a paper Series EE bond at your bank

Walk into any bank or credit union branch with your paper bond and a government-issued ID. Most institutions cash Series EE bonds without requiring an account there, though some may ask you to open one or may charge a small fee. Call ahead if you want to confirm the branch handles savings bonds — larger branches almost always do, but very small branches sometimes refer you elsewhere.

Bring the bond itself (not a photocopy) and your ID. The teller will verify the bond's authenticity, check that it has not been reported lost or stolen, and confirm you are the registered owner or an authorized representative. If the bond is registered to someone else, you will need a power of attorney or proof that you are the legal guardian or executor of the estate. The bank will then issue you a check or deposit the funds directly into your account if you have one there.

The entire process usually takes 10 to 15 minutes. You do not need to notify the Treasury Department or fill out any forms — the bank handles the redemption on your behalf.

Redeeming an electronic Series EE bond through TreasuryDirect

Log into your TreasuryDirect account at treasurydirect.gov using your username and password. Navigate to "Manage My Securities" and select the Series EE bond you want to redeem. Click "Redeem" and confirm the amount — you can redeem the entire bond or a partial amount if you own multiple bonds.

The Treasury Department will deposit the funds into the bank account you have linked to your TreasuryDirect account. This transfer typically takes one to three business days. You will receive a confirmation number immediately after you submit the redemption request, and you can check the status of the transfer by logging back into your account.

Electronic redemptions are permanent once submitted — you cannot cancel the request after you confirm it. Make sure you have selected the correct bond and amount before you click the final confirmation button.

What happens if you redeem before five years

Series EE bonds can be cashed anytime after you own them, but there is a penalty for early redemption. If you redeem the bond before it has been held for five years, you will lose the last three months of interest. This means if you bought a bond on January 15, 2020, and redeem it on January 14, 2025 (just before the five-year mark), you will receive interest only through October 14, 2024.

After five years, you can redeem without losing any interest. The bond will continue to earn interest for up to 30 years from the issue date, so you are not required to redeem it at any particular time — you can hold it as long as you want and redeem whenever you need the money.

Cashing a bond through the mail if your bank cannot help

If you cannot reach a bank that will cash your bond, you can mail it directly to the Treasury Department. Send the bond, a completed FS Form 1522 (Statement Regarding Ownership of Savings Bond), a photocopy of your ID, and a letter requesting redemption to the Bureau of the Fiscal Service at the address listed on the form.

The Treasury Department will mail you a check to the address you provide. This process takes four to six weeks from the date they receive your package, so use this method only if a bank is genuinely unavailable. Include tracking on your mailing so you have proof the Treasury Department received the bond.

You can download FS Form 1522 from treasurydirect.gov or request it by calling the Treasury Department at 844-284-2676.

Tax reporting when you redeem

The interest you earn on a Series EE bond is subject to federal income tax. When you redeem the bond, the financial institution or the Treasury Department will send you a 1099-INT form showing the total interest earned. You must report this interest as income on your federal tax return for the year you redeem the bond.

You can choose to report the interest each year as it accrues instead of waiting until redemption, but most people report it all at once when they cash the bond. If you are redeeming a bond that has been held for many years, the interest amount may be substantial — plan for this when you file your taxes.

Series EE bonds are exempt from state and local income tax, so you only owe federal tax on the interest. If the bond was purchased with education savings in mind, you may be able to exclude some or all of the interest from your taxable income under the Education Savings Bond Program, but you must meet specific requirements and file Form 8815 with your tax return.

What to do if your bond is lost, stolen, or damaged

If a paper bond is lost or stolen, contact the Treasury Department immediately at 844-284-2676 or submit a claim through treasurydirect.gov. You will need to provide the bond's serial number, issue date, and denomination. The Treasury Department will place a stop on the bond so it cannot be cashed by anyone else, and they will issue a replacement bond in your name.

If a paper bond is damaged but still readable, most banks will still cash it. If it is too damaged to read, the Treasury Department can issue a replacement after you provide proof of ownership and the bond's details. This process takes several weeks.

Electronic bonds stored in TreasuryDirect cannot be lost or stolen in the traditional sense because they exist only in your online account. If someone gains access to your account, change your password immediately and contact the Treasury Department to report the unauthorized access.

Frequently Asked Questions

Can I cash a Series EE bond before it reaches face value?

Yes. Series EE bonds are may provide to reach face value in 20 years, but you can redeem them anytime after you own them, even if they have not yet doubled in value. You will simply receive whatever the current value is, which may be less than the purchase price if you redeem very early.

What if I lost the paper bond but remember the serial number?

Contact the Treasury Department with the serial number, issue date, and denomination. They can verify ownership and issue a replacement bond. You will need to provide additional proof of ownership, such as a purchase receipt or bank statement showing the purchase.

Do I have to redeem the entire bond, or can I cash part of it?

For electronic bonds in TreasuryDirect, you can redeem any amount up to the full value. For paper bonds, most banks will cash the entire bond only — you cannot split a paper bond. If you want to redeem only part of the value, you would need to redeem the full bond and then reinvest the portion you do not need.

How long does it take to get the money after I redeem?

At a bank, you receive the funds immediately or within one business day. Through TreasuryDirect, the transfer takes one to three business days. By mail, expect four to six weeks from the date the Treasury Department receives your package.

Will redeeming a bond affect my Social Security or other benefits?

The interest income from a redeemed bond counts as income for tax purposes, but whether it affects means-tested benefits like Supplemental Security Income depends on your specific situation and the program rules. Consult with a benefits counselor or your local Social Security office if you receive means-tested benefits.

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.