You can redeem Series EE bonds through your bank, a Federal Reserve branch, or the TreasuryDirect website
Series EE bonds can be cashed in at any time after you own them, though the Treasury discourages redemption in the first five years—you'll lose the last three months of interest if you cash one before the five-year mark. The actual process is straightforward: you either walk into a bank with the bond and your ID, mail the bond to a Federal Reserve branch, or log into your TreasuryDirect account online and request the redemption there. The method you choose depends on whether you hold a paper bond or a digital one, and how quickly you need the money.
Paper bonds issued before 2012 still exist in many households. If you own one, your bank is usually the fastest route—most process redemptions the same day or within a few business days. Digital bonds purchased through TreasuryDirect can only be redeemed through that same website; you cannot take them to a bank. Either way, the money goes into your bank account, and you'll receive a 1099-INT form at tax time reporting the interest you earned.
Key Takeaways
- Paper Series EE bonds can be redeemed at most banks with your bond certificate and a photo ID, usually within one business day.
- Digital Series EE bonds purchased through TreasuryDirect can only be redeemed online through your TreasuryDirect account.
- Redeeming a bond before five years have passed costs you the final three months of interest, so check the purchase date before you cash it in.
- The Treasury will mail you a 1099-INT tax form in January for any interest earned, which you must report on your federal return.
Cashing a paper Series EE bond at your bank
Bring the physical bond certificate and a government-issued photo ID to any bank where you have an account. You do not need to be a customer of that specific bank—most will cash Treasury bonds for anyone—but calling ahead to confirm they handle bond redemptions can save you a wasted trip. Some smaller branches or credit unions may not process bonds in-house and will direct you to a larger branch or Federal Reserve office instead.
The teller will verify the bond's serial number, check that it has reached maturity (or note the interest penalty if it has not), and process the redemption. The funds are typically deposited into your account within one business day, though some banks may hold the deposit for a few days depending on their policy. Ask the teller for a receipt showing the redemption date and amount—you'll need this for your records and for tax purposes.
Redeeming a digital Series EE bond through TreasuryDirect
Log into your TreasuryDirect account at treasurydirect.gov using your username and password. Navigate to the "Manage My Securities" section and select the Series EE bond you want to redeem. The system will show you the current value, the purchase date, and whether you will incur an interest penalty for early redemption.
Click "Redeem" and confirm the transaction. TreasuryDirect will deposit the funds into the bank account linked to your TreasuryDirect account within two to three business days. You do not receive a physical confirmation in the mail, but your account history will show the redemption date and amount. Keep a screenshot or note of the transaction for your records.
What happens if you redeem before five years
Series EE bonds earn interest monthly, but the Treasury only guarantees the full interest if you hold the bond for at least five years. If you redeem before that five-year mark, you lose the last three months of interest you earned. For example, if you bought a bond 3 years and 11 months ago, you forfeit three months of accrued interest, even though you held it for nearly four years.
The redemption value shown on your bank statement or TreasuryDirect account already accounts for this penalty—you will not be charged an additional fee. However, it is worth checking the purchase date before you redeem to understand whether the penalty applies. If you are only a few months away from the five-year mark, waiting might be worth it, depending on how much interest you stand to lose.
Reporting the interest on your taxes
When you redeem a Series EE bond, the interest you earned is subject to federal income tax (and state income tax in most states). The Treasury will send you a Form 1099-INT in January of the following year showing the total interest earned on all your redeemed bonds during that calendar year. You must report this amount on your federal tax return, even if the interest is small.
If you redeemed bonds in December, the 1099-INT may not arrive until mid-January, so do not panic if you do not see it immediately. You can also log into your TreasuryDirect account and view your interest earnings there. If you lost the 1099-INT or never received one, contact the Bureau of the Fiscal Service at 844-284-2676 to request a replacement.
Redeeming bonds held by someone else or in an estate
If you are redeeming a bond that belongs to someone else—such as a bond your parent bought for you years ago—you will need the bond owner's permission and signature. For paper bonds, both the owner and the person redeeming it should appear at the bank together with their IDs. If that is not possible, the owner can sign a power of attorney form authorizing you to redeem it on their behalf.
If the bond owner has died, the process is more complex. The executor or administrator of the estate will need to provide a certified copy of the death certificate and proof of their authority (such as letters testamentary from the probate court) to redeem the bond. Contact the Federal Reserve Bank serving your region for specific instructions, as requirements vary slightly by location.
What to do if you cannot find your bond or lost it
If you own a Series EE bond but cannot locate the physical certificate, you have two options. First, check your TreasuryDirect account—if the bond was purchased after 2002, it may be registered there digitally, and you can redeem it online without the paper certificate. If the bond was purchased before 2002 or you do not have a TreasuryDirect account, contact the Bureau of the Fiscal Service at 844-284-2676 or visit treasurydirect.gov to report the lost bond and request a replacement certificate.
You will need to provide the bond's serial number (if you have it), the purchase date, and the face value. The replacement process takes several weeks. In the meantime, the bond continues to earn interest, so there is no rush unless you need the money urgently. Once you receive the replacement certificate, you can redeem it at your bank as normal.
Frequently Asked Questions
How long does it take to get the money after I redeem a Series EE bond?
At a bank, funds are usually deposited within one business day. Through TreasuryDirect, it takes two to three business days. Some banks may hold the deposit longer depending on their policy, so ask the teller for an expected timeline when you redeem.
Can I redeem a Series EE bond at any bank, or only the one where I have an account?
Most banks will redeem Treasury bonds for anyone, regardless of whether you have an account there. However, smaller branches or credit unions may not handle bond redemptions in-house. Call ahead to confirm, or ask if they can direct you to a location that does.
What if my Series EE bond is worth less than I paid for it?
Series EE bonds are may provide to double in value within 20 years, so if your bond is less than 20 years old and worth less than you paid, the Treasury will make up the difference when you redeem it. You will receive at least the face value you originally paid.
Do I have to pay state income tax on the interest from my Series EE bond?
Most states tax the interest from Series EE bonds as ordinary income. A few states exempt it. Check your state's tax rules or consult a tax professional if you are unsure whether your state taxes bond interest.
Can I redeem a Series EE bond if it is registered to someone else?
Only the registered owner can redeem the bond, or someone with a signed power of attorney from the owner. If the owner has died, the executor or administrator of the estate can redeem it with a certified death certificate and proof of authority.