You can redeem Series EE bonds at your bank, through the Treasury Department's TreasuryDirect website, or by mail to the Federal Reserve

The fastest way is usually your bank. Walk in with the bonds and your ID, and most banks will cash them on the spot — no appointment needed. If your bank doesn't handle savings bonds, ask which banks in your area do; larger branches are more likely than smaller ones to keep the staff trained for it.

If you prefer not to visit a branch, you can redeem bonds online through TreasuryDirect (treasurydirect.gov), but only if the bonds are registered in your TreasuryDirect account. This works for bonds you bought directly through the website, not for paper bonds you received as gifts or inherited. For paper bonds, you'll need to either take them to a bank or mail them to the Federal Reserve.

Mailing bonds to the Federal Reserve takes longer — typically two to four weeks — but it's an option if you can't visit a bank in person. You'll need to fill out a form, include the bonds, and send everything to your regional Federal Reserve Bank. The address depends on which state you live in.

Key Takeaways

  • Your bank is the fastest option for cashing paper Series EE bonds; bring the bonds and a photo ID and you'll usually get paid the same day.
  • TreasuryDirect redemption works only for bonds you bought through that website and registered there; inherited or gifted paper bonds cannot be redeemed online.
  • If you mail bonds to the Federal Reserve, include the completed redemption form and expect to wait two to four weeks for payment.
  • You'll owe federal income tax on the interest your bonds earned, but not state or local tax; the bank or Federal Reserve will not withhold tax automatically.

Redeeming through your bank

Bring your Series EE bonds and a government-issued photo ID to any bank branch. You don't need an account at that bank. The teller will verify the bonds are genuine, check that they've reached final maturity or that you're past the minimum holding period (one year for Series EE), and process the redemption.

Not every bank handles savings bonds anymore. If your bank says no, call ahead to other branches in your area or ask which banks do. Credit unions sometimes redeem bonds too, though policies vary. The process is the same: bring the bonds and ID, and you'll walk out with a check or deposit to your account.

If you have a large number of bonds or they're registered to multiple people, call the bank before you go. Some branches ask you to come during slower hours so the teller has time to process everything correctly.

Redeeming through TreasuryDirect online

Log into your TreasuryDirect account at treasurydirect.gov. This method works only for bonds you purchased directly through TreasuryDirect and that are registered in your account. You cannot redeem paper bonds online, even if you own them.

Once logged in, go to "Manage My Securities" and select the bonds you want to redeem. You'll see the current redemption value, which includes all interest earned. Confirm the transaction, and the money will be deposited into the bank account linked to your TreasuryDirect account within one to two business days.

This is the simplest method if your bonds are already in TreasuryDirect, because there's no waiting in line and no paperwork to fill out by hand. You can redeem bonds at any time, day or night, as long as they meet the minimum holding period.

Redeeming by mail to the Federal Reserve

If you can't visit a bank and your bonds aren't in TreasuryDirect, you can mail them to your regional Federal Reserve Bank. First, fill out Form PD F 1522 (the "Request for Payment of Savings Bonds"), which you can download from the Treasury website or request by phone.

Include the completed form, your Series EE bonds, and a copy of your photo ID. Mail everything to the Federal Reserve Bank that serves your state. You can find the correct address on the Treasury Department's website under "Redeem Savings Bonds by Mail." Send it via certified mail so you have proof of delivery.

The Federal Reserve will verify the bonds, calculate the redemption value, and mail you a check. This process usually takes two to four weeks. If you need the money faster, a bank visit is worth the trip.

What happens to the interest you earned

When you redeem a Series EE bond, you receive the original purchase price plus all interest earned. That interest is subject to federal income tax, but not state or local tax. You'll report the interest on your federal tax return for the year you redeem the bonds.

The bank or Federal Reserve will not withhold tax automatically when you cash the bonds. You are responsible for setting aside money for taxes or paying estimated tax if you redeem a large amount. If you're unsure how much tax you'll owe, a tax professional can help you calculate it based on your income and tax bracket.

If you inherited Series EE bonds, the interest earned before you inherited them is not taxable to you. Only the interest earned after you took ownership counts as your income.

Bonds that have reached final maturity

Series EE bonds stop earning interest after 30 years. Once a bond reaches final maturity, it no longer grows in value, so there's no reason to hold it. You should redeem it as soon as possible after the 30-year mark.

You can find out when your bonds will mature by checking the issue date printed on the bond itself. Add 30 years to that date. If you're not sure of the issue date, the Treasury Department's Savings Bond Calculator (on treasurydirect.gov) can help you estimate the value and maturity date if you enter the series, denomination, and approximate issue date.

Redeeming bonds registered to multiple people

If a Series EE bond is registered to two people (for example, "John Smith or Jane Smith"), either person can redeem it without the other's permission. The redemption value belongs to whoever cashes it, so if you're one of two owners and you redeem the bond, you receive the full amount.

If the bond is registered as "John Smith and Jane Smith" (with "and" instead of "or"), both owners must sign the redemption form or be present at the bank. Check the bond itself to see which wording is used. If you're unsure, the bank can tell you by looking at the bond.

Frequently Asked Questions

Can I redeem a Series EE bond before one year has passed?

No. Series EE bonds have a one-year minimum holding period. If you try to redeem before one year, the bank or Federal Reserve will refuse. After one year, you can redeem at any time, though you'll earn more interest if you hold longer.

What if I lost my Series EE bonds?

Contact the Treasury Department's Savings Bond Division at 844-284-2676 or visit treasurydirect.gov. You'll need to provide the series, denomination, and issue date if you have them. The Treasury can search their records and issue a replacement or process a claim for the value.

Do I have to redeem all my bonds at once?

No. You can redeem one bond, some bonds, or all of them. At a bank, just tell the teller which bonds you want to cash. Through TreasuryDirect, select only the bonds you want to redeem. You can leave the rest in your account or in physical form.

What if my bank says they don't redeem savings bonds anymore?

Ask which banks in your area do, or use TreasuryDirect if your bonds are registered there. If neither option works, mail the bonds to your regional Federal Reserve Bank using Form PD F 1522. It takes longer, but it will get done.

Will I get a 1099 form for the interest?

The bank or Federal Reserve does not issue a 1099 when you redeem Series EE bonds. You are responsible for reporting the interest on your tax return. Keep your redemption documents so you can calculate the interest earned and report it correctly.