You can cash savings bonds at your bank, credit union, or the U.S. Treasury
The place you cash your bond depends on what kind of bond you have and how much it's worth. Most people cash bonds at their own bank or credit union — it takes a few minutes and costs nothing. If your bank won't cash it, or if you have a very old bond, you can mail it directly to the U.S. Treasury's Bureau of the Fiscal Service in Parkersburg, West Virginia.
The process is straightforward once you know which route to take. You'll need the bond itself, a form of ID, and sometimes a signature may provide. The money usually arrives in your account within a few business days if you go through a bank, or within four to six weeks if you mail it to the Treasury.
Key Takeaways
- Your own bank or credit union is the fastest way to cash a savings bond — most will do it the same day if you bring the bond and your ID.
- Series I and EE bonds can be cashed at any bank or credit union, but some smaller institutions may ask you to cash them at a branch where you have an account.
- If your bank refuses or you have an older bond, you can mail it to the Bureau of the Fiscal Service with a form and your ID copy.
- You'll owe federal income tax on the interest your bond earned, but not state or local tax — report it on your tax return the year you cash it.
Cashing a bond at your bank or credit union
Start by calling your bank or credit union and asking if they cash savings bonds. Most do, but some smaller institutions or branches may have restrictions. Ask whether you need to cash it at a branch where you have an account, or if any branch will do it.
When you go in, bring the bond itself, a government-issued ID (driver's license or passport), and your account number if you have one there. The teller will check that the bond is legitimate and that you're the person named on it. If the bond is registered to someone else, that person has to be there to sign it over to you, or you'll need a power of attorney.
The bank will give you the cash value of the bond — the amount you paid plus all the interest it earned — and deposit it into your account or give it to you in cash. This usually happens the same day. Some banks may ask for a signature may provide if the bond is very old or worth a large amount, which means a bank officer has to witness your signature and stamp it.
When your bank won't cash it
A few situations can make a bank refuse. If the bond is very old (more than 30 years), the bank may not have the systems to verify it. If it's registered to someone who has died, the bank will ask for a death certificate and proof that you're the rightful heir. If the bond was lost or stolen and you're trying to cash a replacement, the bank may ask for documentation of what happened.
In these cases, or if you simply can't get to a bank, you can mail the bond directly to the Treasury. You'll need to fill out Form PD F 1522 (the form for cashing Series EE and I bonds) or Form PD F 1523 (for older series), include a photocopy of your ID, and mail everything to the Bureau of the Fiscal Service at the address on the form. The Treasury will send you a check, which takes four to six weeks.
What you need to bring or send
| Method | What to bring or send | How long it takes |
|---|---|---|
| Bank or credit union | The bond, government ID, account number (if you have one there) | Same day |
| Treasury by mail | The bond, Form PD F 1522 or 1523, photocopy of ID | 4 to 6 weeks |
| Treasury in person (rare) | The bond, government ID, completed form | Same day |
If you're mailing your bond, use certified mail with a return receipt so you have proof it arrived. The Treasury will not cash a bond that arrives damaged or illegible, so handle it carefully.
Tax reporting when you cash a bond
When you cash a savings bond, you owe federal income tax on the interest it earned. You do not owe state or local tax on savings bond interest — that's a federal rule. The amount of interest depends on how long you held the bond and what series it is.
You report this on your tax return for the year you cash the bond. If the bond earned $100 in interest, you add that $100 to your taxable income. If you cashed multiple bonds in the same year, add up all the interest and report the total. You don't have to do anything special — just include it on your return like any other interest income.
If you cashed a bond before it reached its final maturity date, you may have lost some interest. The bond will have paid you only what it was worth at that moment, not what it would have been worth if you'd held it longer. This is not a tax issue — it's just the trade-off for cashing early.
Cashing bonds registered to someone else
If a bond is registered in someone else's name, that person has to be the one to cash it. They can do this themselves at a bank, or they can sign the bond over to you using the back of the bond certificate. If they sign it over, you'll need to bring both the signed bond and a form of ID for the person who signed it, plus your own ID.
If the bond owner has died, the situation is more complex. You'll need to provide a death certificate and proof that you're the rightful heir — usually a will or a court order. Some banks will handle this, but many will ask you to mail it to the Treasury instead, since the Treasury has more experience with inherited bonds.
What happens if your bond is lost or stolen
If you've lost a savings bond or it was stolen, contact the Treasury right away. You can file a claim for a replacement bond, but you'll need to provide proof of ownership — usually the serial number, the series, the face value, and the issue date. If you don't have this information, the Treasury can search their records if you provide your Social Security number and the approximate date the bond was issued.
The replacement process takes several weeks. In the meantime, no one else can cash your bond without the serial number and your signature, so your money is not at immediate risk. Once the Treasury issues a replacement, you can cash it at your bank or by mail.
Frequently Asked Questions
Can I cash a savings bond before it matures?
Yes, but you may lose interest. Series EE and I bonds can be cashed anytime after one year, but if you cash them before five years have passed, you lose the last three months of interest. Older series have different rules — check the bond itself or the Treasury website for your specific series.
Do I need a signature may provide to cash my bond?
Usually not, unless the bond is very old or worth a large amount. Your bank will tell you if they need one. A signature may provide is a stamp from a bank officer confirming they watched you sign — it costs $10 to $50 and takes a few minutes.
What if I cash a bond and then find out I made a mistake?
Once a bond is cashed, it cannot be reissued. If you cashed it by mistake or to the wrong person, contact the Treasury immediately. They may be able to stop payment if the check hasn't been deposited yet, but once it clears, the bond is gone.
Can I cash a bond at any bank, or does it have to be my bank?
Most banks will cash a savings bond even if you don't have an account there, but some smaller institutions or credit unions only cash bonds for their own members. Call ahead to ask, or bring your ID and the bond and see if they'll do it.
How much will I get when I cash my bond?
You'll get the face value of the bond plus all the interest it earned up to the day you cash it. For example, a $50 bond that earned $12 in interest will be worth $62. The Treasury or your bank can tell you the exact amount before you cash it.