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

The simplest way to cash a Series EE bond is to walk into your bank or credit union with the bond itself and your ID. Most financial institutions will cash them on the spot, though some may charge a small fee or require you to have an account there. If your bank won't cash it, the U.S. Treasury will always cash it for you through TreasuryDirect, their online platform, or by mail.

You do not need to wait until a bond reaches its final maturity date to cash it. Series EE bonds can be cashed any time after you have owned them for one year. If you cash before five years have passed, you lose the last three months of interest as a penalty. After five years, you can cash without losing any interest.

The amount you receive is the bond's current value — what you paid for it plus all the interest it has earned. The Treasury calculates this value monthly, so the exact amount depends on when you cash it.

Key Takeaways

  • Series EE bonds can be cashed at your bank, credit union, or directly through the U.S. Treasury after you have owned them for at least one year.
  • Cashing before five years means you forfeit the last three months of interest, but you can still cash if you need the money.
  • You will receive the full purchase price plus all interest earned, minus the early-redemption penalty if applicable.
  • The Treasury updates bond values monthly, so the exact amount you receive depends on the date you cash.
  • You must report the interest earned on your federal tax return in the year you cash the bond.

Cashing at a bank or credit union

Bring the physical bond certificate and a government-issued ID to any bank or credit union branch. The teller will verify the bond, check its current value, and give you the cash or deposit it into your account. This usually takes a few minutes.

Not every bank will cash bonds from customers who do not have an account there. Call ahead to confirm. Some banks charge a small fee — typically $5 to $10 — to cash a bond for a non-customer. Credit unions are often more flexible, especially if you are a member of a credit union network that spans multiple institutions.

If the bond is registered to someone else, that person must be present with their ID, or they must have signed the back of the bond authorizing you to cash it. If the bond is in a deceased person's name, you will need to provide a death certificate and proof that you are authorized to handle their estate.

Cashing through TreasuryDirect online

If you own the bond through a TreasuryDirect account — meaning you bought it electronically rather than as a paper certificate — you can cash it directly on the TreasuryDirect website without leaving home. Log in, navigate to your bonds, select the one you want to redeem, and confirm the transaction. The money goes into your linked bank account within a few business days.

This method works only for electronic bonds. If you have a paper certificate, you cannot redeem it through TreasuryDirect; you must use a bank, credit union, or mail it to the Treasury.

Cashing by mail to the Treasury

If no bank near you will cash the bond, or if you prefer not to visit in person, you can mail the bond directly to the Bureau of the Fiscal Service, which is the Treasury office that handles savings bonds. Include a letter stating your name, the bond serial number, and the amount you want to redeem. Sign the back of the bond in front of a witness — a notary public, bank officer, or other authorized person — or have it notarized.

Mail the bond and your letter to the address listed on the Treasury's savings bonds website. Processing takes four to six weeks. The Treasury will mail you a check or deposit the funds into your bank account if you provide account details.

Keep a copy of everything you send. The mail can be slow, and having documentation helps if there are questions.

Understanding the early-redemption penalty

If you cash a Series EE bond before it has been five years old, you lose the last three months of interest. This is not a fee the bank charges — it is built into how the bond's value is calculated. The Treasury simply does not credit the final quarter's interest if you redeem early.

For example, if a bond has earned $50 in interest over four years and nine months, and the next three months would have earned $5, you receive only $45 in interest when you cash it. You still get your full purchase price back.

After the bond reaches five years old, this penalty no longer applies. You receive every dollar of interest earned, no matter when you cash.

Tax reporting when you cash

The interest you earn on a Series EE bond is subject to federal income tax. You do not pay tax when you buy the bond — you pay it in the year you cash the bond. The Treasury does not automatically withhold tax, so you are responsible for reporting the interest on your federal tax return.

When you cash the bond, the Treasury does not send you a tax form. You calculate the interest yourself: the amount you received minus the amount you originally paid. Report this as interest income on your tax return. If you cashed multiple bonds, add up all the interest and report the total.

Series EE bonds are exempt from state and local income tax, so you only owe federal tax. If you are unsure how to report the interest, a tax professional or the IRS website can walk you through it.

What to do if you cannot find the bond

If you own a Series EE bond but have lost the paper certificate, you can still cash it. Contact the Treasury's Savings Bonds Division by phone or through their website. Provide your name, Social Security number, and as much information as you remember about the bond — the series, the issue date, or the approximate purchase price. The Treasury can search their records and help you locate it.

Once located, the Treasury can issue a replacement certificate or allow you to redeem it electronically. This process takes longer than walking into a bank with the bond in hand, but it is the only option if the certificate is gone.

Frequently Asked Questions

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

No. Series EE bonds must be held for at least one year before they can be cashed. If you need the money sooner, you will have to wait or find another source of funds.

What happens if I cash the bond on the exact five-year anniversary?

The early-redemption penalty applies only if you cash before five years have passed. On the five-year date or any time after, you receive the full interest with no penalty. The Treasury updates bond values monthly, so the exact timing depends on the month you cash.

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

Series EE bonds are all-or-nothing. You cannot cash half a bond and keep the other half earning interest. When you redeem, you cash the entire bond.

What if the bond is in both my name and someone else's name?

Both owners must be present with ID to cash the bond, or one owner must have written authorization from the other. If one owner has died, the surviving owner can cash it with a death certificate and proof of their authority over the estate.

How long does it take to receive the money after I cash the bond?

At a bank or credit union, you usually get the cash or see a deposit within the same day. Through TreasuryDirect, funds arrive in your linked bank account within a few business days. By mail, expect four to six weeks from the date the Treasury receives your bond.