You can cash Series EE bonds at most banks, credit unions, and the U.S. Treasury

The easiest place to cash a Series EE bond is your own bank or credit union, if you have an account there. Most financial institutions will cash them for free during business hours. You do not need to be a long-term customer — walk in with the bond and valid ID, and they will process it on the spot or within a few business days.

If your bank or credit union declines (which happens occasionally with smaller institutions), you can cash the bond directly through the U.S. Treasury's TreasuryDirect website or by mail. The Treasury route takes longer but always works, and there is no fee.

Key Takeaways

  • Your bank or credit union is the fastest option and typically cashes Series EE bonds the same day or within a few business days.
  • The U.S. Treasury will cash your bond through TreasuryDirect online or by mailing the bond to the Bureau of the Fiscal Service.
  • You need the physical bond certificate, valid government-issued ID, and proof of Social Security number to cash a bond in person.
  • If the bond is registered to a minor or deceased person, the process changes and requires additional documentation from the person cashing it.
  • Series EE bonds must be at least one year old to cash without penalty, though you will lose the last three months of interest if you cash before five years.

Cashing at a bank or credit union in person

Bring the bond certificate itself, a valid government-issued ID (driver's license, passport, or state ID), and your Social Security number or Tax ID. The teller will verify the bond is genuine, check that it has not been reported lost or stolen, and process the redemption. You will receive a check or deposit to your account, depending on what the institution offers.

Not every bank handles savings bonds. Larger national banks like Bank of America, Wells Fargo, and Chase almost always do. Community banks and credit unions vary — call ahead if you are unsure. Some institutions charge a small fee (usually $5 to $15) to verify and process the bond, though many waive it for account holders.

If the bond is in two names (joint ownership), both owners must be present with ID, or one owner must have a signed power of attorney from the other. If the bond is in a minor's name, the parent or legal guardian must present ID and the minor's birth certificate or Social Security card.

Cashing through TreasuryDirect online

If you have a TreasuryDirect account, you can submit a redemption request through the website. Log in, navigate to "Manage My Securities," select the bond you want to cash, and request redemption. The Treasury will deposit the funds into your linked bank account within a few business days.

This method works only if the bond is already registered in your TreasuryDirect account. If you have a physical paper bond that is not yet in the system, you will need to use the mail-in method instead. You cannot transfer a paper bond into TreasuryDirect and then immediately cash it — there is a holding period.

Cashing by mail through the Bureau of the Fiscal Service

Mail the bond certificate to the Bureau of the Fiscal Service, along with a completed Form PD 1522 (Request for Payment of Series EE and Series I Savings Bonds). Include a copy of your ID and a letter stating your name, address, and the reason for redemption. Send it certified mail with return receipt requested to track it.

The address is: Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. Processing takes four to six weeks from the date they receive it. The Treasury will mail you a check to the address on file, or deposit funds directly if you provide banking information on the form.

This route is slower but works for anyone, including people without a bank account or TreasuryDirect login. It is also the only option if your bond is damaged or if you have lost the certificate and need to file a claim first.

What happens if the bond is registered to someone else

If the bond is in a deceased person's name, the person cashing it (the estate executor, beneficiary, or next of kin) must provide a certified copy of the death certificate along with proof of their authority to act. This might be a will, letters testamentary from the court, or a certified copy of the beneficiary designation.

If the bond is in a minor's name and the minor is now an adult, the adult can cash it with their own ID. If the minor is still under 18, the parent or legal guardian must cash it on their behalf. If the bond is in the name of someone with a power of attorney, the attorney-in-fact can cash it with the original power of attorney document and their own ID.

Timing and interest penalties to know

Series EE bonds must be at least one year old before you can cash them. If you cash before the bond reaches five years old, you lose the last three months of interest — this is a built-in penalty. After five years, you can cash without losing interest.

The redemption value you receive is the face value plus all accrued interest up to the date of redemption (minus the three-month penalty if applicable). The Treasury publishes current redemption values on the TreasuryDirect website, updated monthly. You can look up your specific bond's value before you cash it.

Tax reporting when you cash a bond

The interest you earn on a Series EE bond is subject to federal income tax. You can choose to report the interest each year as it accrues, or wait and report it all in the year you cash the bond. Most people wait until redemption because it is simpler.

The financial institution or Treasury will not automatically send you a tax form — you are responsible for reporting the interest on your tax return. If you need help calculating how much interest you earned, the TreasuryDirect website has a calculator, or you can contact the Bureau of the Fiscal Service directly.

Frequently Asked Questions

Can I cash a Series EE bond at any bank?

Most large banks and credit unions cash them, but some smaller institutions do not. Call ahead or ask a teller. If your bank declines, the Treasury will always cash it by mail or through TreasuryDirect.

What if I lost the physical bond certificate?

Contact the Bureau of the Fiscal Service and file a claim for a lost or stolen bond. They will investigate and issue a replacement or process a redemption once the claim is approved. This takes several weeks.

Do I have to pay taxes on the interest when I cash the bond?

Yes, the interest is taxable federal income. You report it on your tax return in the year you cash the bond (or each year it accrues, if you choose that method). State and local taxes may also apply depending on where you live.

What if the bond is in both my name and my spouse's name?

Both of you must be present with ID to cash it in person, or one of you must have a signed power of attorney from the other. By mail, both owners must sign the form, or one owner must include a notarized power of attorney.

How long does it take to get the money after I cash a bond?

In person at a bank: same day or within a few business days. Through TreasuryDirect: three to five business days. By mail to the Treasury: four to six weeks from receipt.