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

Series EE bonds can be redeemed at three main places: your bank or credit union, the U.S. Treasury's TreasuryDirect website, or by mail directly to the Treasury. Banks and credit unions are the fastest option if you have an account there—you can often walk in and cash them the same day. The Treasury handles bonds by mail or online, which takes longer but works if your bank won't cash them or if you don't have a banking relationship.

The method you choose depends on how quickly you need the money, whether you have the physical bond certificate or only a record of it, and whether you want to avoid a trip. Each route has different requirements and timelines.

Key Takeaways

  • Banks and credit unions can cash Series EE bonds on the spot if you have an account with them and bring the bond certificate and a photo ID.
  • The U.S. Treasury will redeem bonds by mail or through TreasuryDirect online, but the process takes two to four weeks by mail.
  • If you own the bond jointly or it was issued to a minor, both owners or a parent must be present to cash it in person.
  • Some banks charge a small fee to cash bonds, though many do not—call ahead to ask before you go in.
  • If you cannot find your physical bond certificate, you can request a replacement from the Treasury or redeem it through TreasuryDirect if it was issued after 2011.

Cashing bonds at your bank or credit union

This is the fastest route if you have an account at a bank or credit union. Bring the physical Series EE bond certificate, a photo ID, and your account information. The teller will verify the bond, check that it has reached final maturity or that you are past the minimum holding period (one year for Series EE), and process the redemption. You will receive the cash or a deposit to your account the same day.

Not every bank cashes bonds—some larger institutions have stopped offering this service. Call your bank's main number or visit a branch to confirm they cash Series EE bonds before you make a trip. If you have a joint bond or the bond was issued to a minor, both owners or a parent must be present with ID.

Some banks charge a small fee, typically $5 to $15, to process the redemption. Others do not charge anything. Ask about the fee when you call to confirm they offer the service.

Redeeming bonds through TreasuryDirect online

If your Series EE bond was issued after 2011, it exists as a digital record in your TreasuryDirect account, not as a physical certificate. You can redeem it directly through the TreasuryDirect website without visiting a bank. Log in to your account, select the bond you want to redeem, and request the redemption. The Treasury will deposit the money into your bank account within one to three business days.

To set up a TreasuryDirect account, you need a Social Security number, a valid email address, and online banking access. If you already have an account, you can redeem bonds anytime after they have been held for one year. This method avoids fees and is faster than mailing a certificate, but it only works for bonds issued in digital form.

Mailing bonds to the Treasury

If you have a physical bond certificate and cannot cash it at a bank, or if you prefer not to use TreasuryDirect, you can mail the bond to the Bureau of the Fiscal Service. Send the certificate along with a completed FS Form 1522 (the redemption request form) and a copy of your photo ID. Include a letter stating your name, address, Social Security number, and the amount you are requesting.

Mail the package to the address listed on the Treasury's website for your state. The process typically takes two to four weeks from the time the Treasury receives your package. The Treasury will mail you a check or deposit the funds directly to your bank account if you provide banking information on the form.

Keep a copy of everything you send and consider using certified mail so you have proof of delivery. The Treasury does not charge a fee for this service.

What to do if you cannot find your bond certificate

If you lost the physical certificate but the bond was issued after 2011, log into your TreasuryDirect account and redeem it there. Your digital record is the official proof of ownership.

If the bond was issued before 2011 and you no longer have the certificate, you can request a replacement from the Treasury. Complete FS Form 1048 and mail it along with a copy of your photo ID and proof of ownership (such as a bank statement showing the bond purchase or a letter from the original issuer). The Treasury will issue a replacement certificate, which you can then take to a bank or redeem by mail. This process takes several weeks.

Cashing bonds owned jointly or issued to a minor

If a Series EE bond is registered to two owners, both owners must be present with photo ID to cash it at a bank. If the bond is in your name and someone else's name, you cannot redeem it alone. Both of you will need to go to the bank together or authorize the redemption in writing.

If the bond was issued to a minor and the minor is now an adult, only the adult needs to present ID. If the minor is still under 18, a parent or legal guardian must be present. The bank will verify the relationship and process the redemption with both parties present.

For bonds held in a custodial account through TreasuryDirect, the custodian (usually a parent) can redeem the bond online using their login credentials.

Timing and what to expect

Series EE bonds must be held for at least one year before they can be redeemed. If you cash them before five years have passed, you lose the last three months of interest. After five years, there is no penalty for early redemption. Bonds continue to earn interest for up to 30 years, so the longer you hold them, the more they are worth.

When you redeem a bond, you will receive the principal plus all accrued interest. The Treasury will report the interest income to the IRS on a Form 1099-INT, which you will receive in January of the following year. You are responsible for reporting this interest on your federal tax return for the year you cashed the bond.

Frequently Asked Questions

Can I cash a Series EE bond at any bank?

No. Many large banks have stopped cashing savings bonds, and some smaller banks do not offer the service. Call your bank first to confirm they cash Series EE bonds. If they do not, try a local credit union or a different bank in your area.

What if my bank charges a fee to cash the bond?

Some banks charge $5 to $15 to redeem a savings bond. If the fee seems high, you can redeem the bond through TreasuryDirect online (if it was issued after 2011) or mail it to the Treasury for free. The fee is worth paying only if you need the money immediately and the bank is your only option.

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

Yes. The interest earned on a Series EE bond is subject to federal income tax in the year you redeem it. You will receive a Form 1099-INT from the Treasury showing the interest amount. Some states do not tax savings bond interest, so check your state's rules. You can report the interest on your tax return when you file.

What happens if I cash a Series EE bond before five years?

You lose the last three months of interest. For example, if you cash a bond after four years and nine months, you receive interest only through four years and six months. After five years, there is no penalty, and you receive all accrued interest regardless of when you redeem it.

Can I redeem a bond if someone else's name is on it?

If the bond is in both your names, you both must be present with ID. If it is only in someone else's name, you cannot redeem it—only the owner can. If the owner has passed away, the bond becomes part of their estate, and the executor or heir must handle the redemption through the probate process or by contacting the Treasury.