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 usually your own bank or credit union. Most financial institutions will cash them for you during normal business hours, no appointment needed. If you don't have a bank account there, some will still cash them—call ahead to confirm. You can also cash them directly through the U.S. Treasury's TreasuryDirect website if you own them electronically, or by mail if you hold paper bonds.

Where you can cash depends partly on whether your bonds are paper or electronic. Paper bonds (the physical certificates) can go to a bank, credit union, or the Treasury. Electronic bonds registered in TreasuryDirect can only be redeemed through that same online account. Either way, the process is straightforward once you know which route to take.

Key Takeaways

  • Your own bank or credit union is the fastest option for cashing paper Series EE bonds—most do it same-day with no fee.
  • If you don't bank there, call first; some banks will cash them for non-customers, but policies vary.
  • Electronic bonds held in TreasuryDirect must be redeemed through your online account on the Treasury website.
  • The Treasury processes mail-in redemptions in about four weeks, so use this route only if you can't reach a bank or credit union.
  • You'll receive a 1099-INT form for tax purposes if the bond has earned interest, regardless of where you cash it.

Cashing paper bonds at your bank or credit union

Walk in during business hours with your bond certificate and a valid ID. The teller will verify the bond is genuine, confirm it has reached its final maturity date or that you meet the early redemption rules, and process the payment. Most banks and credit unions cash them the same day at no charge. You'll receive the full value—principal plus any accrued interest—either as cash, a check, or a deposit to your account if you have one there.

If you don't have an account at that bank, call ahead. Some institutions will cash bonds for non-customers, but others limit this service to account holders. Credit unions are often more flexible than large banks on this point. Ask whether they charge a fee for non-customers; most don't, but it's worth confirming before you go.

Bring the physical bond certificate itself—you cannot cash a paper bond without it. If you've lost the certificate, you'll need to contact the Treasury directly to request a replacement, which takes several weeks.

Redeeming electronic bonds through TreasuryDirect

If you own Series EE bonds electronically through TreasuryDirect, you redeem them entirely online. Log into your account at treasurydirect.gov, navigate to the bond you want to cash, and select the redemption option. The Treasury deposits the money directly into your bank account within one to three business days.

Electronic bonds are easier in one way—you don't need to go anywhere or handle a physical certificate. But you can only redeem them through TreasuryDirect itself; no bank will cash an electronic bond for you. If you forget your login credentials, you'll need to reset them before you can proceed, so plan ahead if you're on a timeline.

The Treasury charges no fee for redeeming electronic bonds. The money goes straight to the bank account you have on file with TreasuryDirect, so make sure that account information is current before you start the redemption.

Mailing paper bonds to the Treasury

If you cannot reach a bank or credit union, you can mail your paper bonds directly to the Treasury's Bureau of the Fiscal Service. Send the bond certificate, a completed FS Form 1522 (the redemption request form), and a copy of your ID to the address listed on the Treasury website. Include a letter stating your name, address, and the amount you expect to receive.

Processing takes about four weeks from the date the Treasury receives your package. They will mail you a check or deposit the funds to a bank account you specify on the form. This route is slower and requires you to trust the mail with your bond certificate, so use it only if local banks and TreasuryDirect are not options.

Download FS Form 1522 from the Treasury website before you mail anything. The form tells you exactly where to send the package and what else to include. Without the completed form, the Treasury may delay processing or return your package.

What happens to the interest when you cash

When you redeem a Series EE bond, you receive the full value: your original purchase price plus all interest earned up to the redemption date. That interest is taxable income in the year you cash the bond, whether you cash it early or at maturity.

The bank, credit union, or Treasury will issue you a 1099-INT form showing the interest amount. You'll report this on your federal tax return. If you've been deferring the taxes on the bond (which is the default for Series EE bonds), you owe the tax in the year you redeem it. If you've been reporting the interest annually, you've already paid tax on it and won't owe anything additional.

Keep the 1099-INT form with your tax records. If you cash multiple bonds in the same year, you'll receive a separate form for each one, and the total interest will be reported on your return.

Early redemption and the one-year rule

Series EE bonds can be redeemed as early as one year after purchase, but there's a penalty if you cash them before five years have passed. The penalty is the last three months of interest—meaning if you redeem between one and five years, you lose that interest and receive only the principal plus any interest earned before those final three months.

After five years, you can redeem without penalty and receive the full value. This rule applies whether you cash at a bank, through TreasuryDirect, or by mail to the Treasury. The teller or the online system will calculate the correct amount automatically based on the purchase date and redemption date.

If you're cashing before five years, ask the bank or check TreasuryDirect to confirm the exact amount you'll receive. The penalty can be significant on larger bonds, so it's worth verifying before you proceed.

What to bring and what to expect

For a bank or credit union: bring the physical bond certificate and a valid photo ID (driver's license, passport, or state ID). That's all you need. The teller will handle the rest.

For TreasuryDirect: you need your login credentials and access to the email address or phone number associated with your account. If you've lost access, you'll need to go through the account recovery process, which can take a few days.

For mail-in redemption: gather the bond certificate, a completed FS Form 1522, a photocopy of your ID, and a cover letter with your name, address, and expected redemption amount. Use certified mail or a tracked service so you know when it arrives.

In all cases, expect to receive your money within one business day (bank or credit union), one to three business days (TreasuryDirect), or about four weeks (mail). Plan accordingly if you need the funds by a specific date.

Frequently Asked Questions

Can I cash a Series EE bond at any bank, or only my own bank?

Most banks will cash Series EE bonds for customers. Non-customers may be turned away or charged a fee. Credit unions are often more flexible. Call ahead if you don't have an account there. The Treasury will always cash them by mail, though it takes longer.

What if my paper bond is damaged or I've lost it?

Contact the Treasury's Bureau of the Fiscal Service to request a replacement certificate. You'll need to provide proof of ownership and identity. The process takes several weeks. If the bond is lost, you may need to file a claim. Start by visiting treasurydirect.gov or calling the Treasury's customer service line.

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

Series EE bonds are all-or-nothing—you redeem the whole bond or none of it. You cannot split a bond or redeem a portion. If you own multiple bonds, you can cash some and keep others.

Will cashing a bond affect my taxes or benefits?

The interest from a Series EE bond is taxable income in the year you redeem it. This may affect your tax bracket or, in some cases, your may be able to access for means-tested benefits. Consult a tax professional if you're concerned about the impact, especially if you're receiving Medicaid, SSI, or other need-based support.

How do I know if my bond has reached maturity?

Series EE bonds reach final maturity 30 years after purchase. You can check the exact maturity date on the bond certificate itself—it's printed on the front. You can also log into TreasuryDirect to see the maturity date for electronic bonds. After maturity, the bond stops earning interest, so there's no benefit to holding it longer.