You can cash a Series EE bond at your bank, through the Treasury Department, or by mail — but the method depends on whether the bond is paper or digital

If you own a paper Series EE bond, your bank is usually the fastest route. Walk in with the bond itself, your ID, and a signature card (which the bank provides). The teller will verify the bond's serial number, confirm you are the registered owner or an authorized representative, and give you cash on the spot — usually within minutes.

If your bond is digital — held in TreasuryDirect, the Treasury's online system — you log into your account, select the bond, and request redemption. The money lands in your linked bank account within one to three business days. You never handle a physical document.

If your bank will not cash it or you prefer not to go in person, you can mail the bond to the Treasury Department's Bureau of the Fiscal Service with a form, or redeem it through a brokerage account if you have one. Each method has different timing and requirements.

Key Takeaways

  • Paper Series EE bonds can be cashed at most banks during business hours with just the bond and your ID.
  • Digital bonds held in TreasuryDirect are redeemed online and the money reaches your bank account in one to three business days.
  • If you cash a bond before it reaches 30 years old, you lose the last three months of interest as a penalty.
  • You will owe federal income tax on all the interest your bond earned, but not state or local tax.
  • If you cash a bond before the owner turns 24, you may owe a 10 percent penalty on the interest earned — unless the money goes toward education expenses.

Cashing a paper bond at your bank

Bring the physical bond certificate, your government-issued ID, and nothing else. Most banks cash Series EE bonds for free during regular business hours. The teller will ask you to sign the back of the bond in front of them — this is the redemption signature, and it must match the ID you show.

If the bond is registered to someone else but you are an authorized co-owner, bring both IDs. If you are cashing a bond on behalf of a deceased owner, bring the death certificate and proof that you are the executor or beneficiary — rules vary by bank, so call ahead.

The bank will verify the bond's series, denomination, and serial number against Treasury records (this takes a few minutes), then hand you cash. You will receive a receipt showing the redemption date and amount. Keep this receipt for your tax records.

Redeeming a digital bond through TreasuryDirect

Log into your TreasuryDirect account at treasurydirect.gov using your username and password. Navigate to "Manage My Securities" and find the Series EE bond you want to redeem. Click the bond and select "Redeem" from the menu.

The system will show you the current value — principal plus all interest earned to date — and ask you to confirm. Once you confirm, the redemption is final. The Treasury will deposit the money into the bank account you have linked to your TreasuryDirect account within one to three business days.

You will receive a confirmation email and a transaction record in your account history. Print or save this for your records. The Treasury will also send you a 1099-INT form in January of the following year showing the interest you earned.

Mailing a bond to the Treasury if your bank will not cash it

Some banks, especially smaller ones or branches in rural areas, do not cash savings bonds. If yours will not, you can mail the bond directly to the Bureau of the Fiscal Service. You will need to fill out Form PD 1239 (Application to Receive Payment on United States Savings Bonds), which you can download from treasurydirect.gov or request by phone at 844-284-2676.

Include the completed form, the bond certificate, a copy of your ID, and a letter stating your name, address, and the bond's serial number. Mail everything to the address listed on the form — currently the Bureau of the Fiscal Service in Parkersburg, West Virginia, though you should verify the current address on the form itself.

Processing by mail takes four to six weeks. The Treasury will mail you a check to the address you provide. This method is slower than a bank visit but works if you have no other option.

The early redemption penalty and when it applies

Series EE bonds earn interest for 30 years. If you cash the bond before it reaches 30 years old, the Treasury withholds the last three months of interest as a penalty. For example, if a bond is 29 years and 10 months old, you lose three months of interest.

This penalty applies to all Series EE bonds redeemed early, with no exceptions. It is built into how the bond is valued — the bank or Treasury will show you the reduced amount before you complete the redemption. There is no way around it, but you can wait until the bond reaches 30 years old to avoid losing any interest.

Federal taxes on the interest you earned

The interest your Series EE bond earned is subject to federal income tax. You do not pay tax when you cash the bond — instead, you report the interest on your federal tax return for the year you redeemed it.

The Treasury will send you a Form 1099-INT in January showing the total interest earned. If you redeemed the bond in December, the form will arrive the following January and cover interest earned through the redemption date. You report this interest as ordinary income on your tax return.

Series EE bonds are not subject to state or local income tax, even if you live in a state that taxes other interest income. This is a federal benefit that applies everywhere.

The education savings penalty exception

If you or a family member owned the bond and used the proceeds to pay for may have access to education expenses — tuition, fees, books, or room and board at an accredited school — you may be able to exclude some or all of the interest from federal tax. This is called the Education Savings Bond Program.

To claim this exclusion, the bond must have been issued after 1989, registered in the name of the parent (not the child), and redeemed in the same year the education expenses were paid. You will need to file Form 8815 with your tax return and provide documentation of the education costs.

If you are under 24 years old and cash a bond that was not used for education, you owe a 10 percent penalty on the interest earned in addition to regular income tax. This penalty applies only to bonds issued after 1989 and only to the original owner or their spouse. Check with a tax professional if you think this applies to you.

What to do if you cannot find the bond or lost the certificate

If you own a Series EE bond but lost the paper certificate, you can still redeem it. Call the Treasury at 844-284-2676 and provide your name, Social Security number, and the bond's serial number if you have it. The Treasury can look up the bond in their system and issue a replacement certificate or process the redemption by mail.

If you do not have the serial number, the Treasury can search by the issue date, denomination, and your name. This takes longer but is possible. Once they locate the bond, they will send you a replacement certificate or redemption instructions.

If you inherited a bond and do not know where the certificate is, contact the Treasury with the deceased owner's name and Social Security number. The Treasury maintains records of all bonds ever issued and can help you locate it.

Frequently Asked Questions

Can I cash a Series EE bond before it matures?

Yes. Series EE bonds can be cashed at any time after you own them for one year. If you cash it before 30 years, you lose the last three months of interest as a penalty. After 30 years, the bond stops earning interest, so there is no benefit to holding it longer.

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

You must cash the entire bond. You cannot redeem a portion of a Series EE bond — it is an all-or-nothing transaction. If you need only part of the value, you will have to cash it and manage the full amount yourself.

What if the bond is registered to a minor?

If the minor is old enough to sign, they can sign the redemption signature at the bank with their ID. If they are too young to have an ID, a parent or legal guardian can sign on their behalf with proof of guardianship. The parent or guardian will receive the cash, but the interest is still taxable to the minor.

How long does it take to get the money after I redeem online?

TreasuryDirect deposits the money into your linked bank account within one to three business days. The exact timing depends on your bank's processing speed. Weekends and holidays may add a day or two.

Will cashing a bond affect my taxes or benefits?

The interest is taxable income, so it may affect your tax liability. If you receive means-tested benefits like Supplemental Security Income or SNAP, the cash itself may count as income or assets depending on the program. Check with your benefits administrator before cashing a large bond.