How to Cash in Your EE Bonds

You can cash EE bonds at most banks, credit unions, and the Treasury Department, but the process and penalties depend on how long you have held them

The fastest way to cash an EE bond is to take it to your bank or credit union in person with a valid ID. Most financial institutions will cash them the same day, though some require you to have an account there. If you do not have a bank nearby or prefer not to visit in person, you can mail the bond to the Treasury Department's Bureau of the Fiscal Service, which will send you a check by mail — this takes about four weeks.

The amount you receive depends on when you bought the bond and when you cash it. EE bonds earn interest monthly, and that interest is added to the bond's value. If you cash the bond before it reaches final maturity (30 years from issue), you will receive the current redemption value, which includes all interest earned to date. However, if you cash the bond before it has been held for five years, you will lose the last three months of interest as a penalty.

Key Takeaways

Banks and credit unions can cash EE bonds in person on the same day if you bring the bond and a valid ID, though some require you to be a customer.
If you hold an EE bond for less than five years, you forfeit the last three months of interest when you cash it.
You can mail bonds to the Treasury Department's Bureau of the Fiscal Service if you cannot cash them locally, and you will receive payment by check in about four weeks.
The Treasury Department will not cash bonds by phone or email, and you cannot cash bonds online through TreasuryDirect even if you bought them there.
You will owe federal income tax on the interest your bond earned, though you can defer that tax until you cash the bond or it reaches final maturity.

Cashing EE bonds at a bank or credit union

Walk into any bank or credit union with your EE bond and a government-issued ID — a driver's license, passport, or state ID card all work. The teller will verify the bond's serial number and current value using the Treasury Department's redemption tables, then issue you a check or deposit the funds directly into your account if you have one there.

Some banks and credit unions require you to be a customer to cash bonds; others will cash them for anyone. Call ahead if you are unsure whether your institution will cash a bond from a non-customer. If your local bank will not help, try a different bank in your area — most will cash them as a service, even if you do not have an account.

Bring the physical bond certificate itself. You cannot cash an EE bond using only the serial number or a photograph. If you have lost the bond, you will need to file a claim with the Treasury Department before you can receive payment, which adds several weeks to the process.

Mailing bonds to the Treasury Department

If you cannot or do not want to visit a bank, you can send your EE bonds by mail to the Bureau of the Fiscal Service. Address your envelope to: Bureau of the Fiscal Service, Division of Transactions and Rulings, 200 Third Street, Parkersburg, WV 26106-1328.

Include a letter stating that you want to redeem the bonds and listing the series, denomination, and serial number of each bond. Do not send the bonds in a regular envelope — use registered mail with return receipt requested so you have proof of delivery. The Treasury Department will verify the bonds, calculate the redemption value, and mail you a check. This process typically takes three to four weeks from the date they receive your package.

Keep a copy of your letter and the registered mail receipt until you receive your check. If your check does not arrive within six weeks, contact the Treasury Department's customer service line at 844-284-2676 to track your redemption.

The five-year holding period penalty

EE bonds purchased after May 2003 lose three months of interest if you cash them before five years have passed. This is not a fee you pay — it is interest you do not receive. If you bought a bond on January 1, 2024, and cashed it on December 31, 2028 (just under five years), you would receive the redemption value as of September 30, 2028, not December 31, 2028.

Bonds held for five years or longer have no penalty. You receive the full redemption value based on the current month. This penalty structure encourages longer holding periods but does not prevent you from cashing a bond early if you need the money.

Tax on the interest you earned

When you cash an EE bond, you owe federal income tax on the interest it earned — not on the original purchase price. The amount of interest is the difference between what you paid for the bond and what you receive when you cash it.

You do not have to pay tax when you cash the bond. Instead, you report the interest on your federal tax return for the year you cashed it. If you prefer, you can report the interest each year as it accrues, even if you do not cash the bond — this is called the accrual method. Most people wait until they cash the bond to report the interest, which is simpler.

You do not owe state or local income tax on EE bond interest. You may owe federal tax, but not to your state or city.

What to do if you cannot find the bond

If you have lost an EE bond or cannot locate it, you can file a claim with the Treasury Department to have it replaced or redeemed. You will need to provide the bond's series, denomination, and serial number if you have them. If you do not have this information, the Treasury Department can search their records if you provide your Social Security number and the approximate date you purchased the bond.

File a claim by mailing a letter to the Bureau of the Fiscal Service at the address listed above, or by calling 844-284-2676. The process takes several weeks, and you will need to sign a statement under penalty of perjury confirming that you own the bond and have lost it. Once the Treasury Department verifies your claim, they will issue a replacement bond or send you a check for the redemption value.

Cashing bonds you inherited

If you inherited EE bonds from someone else, you can cash them using the same methods — at a bank or by mailing them to the Treasury Department. You will need to provide proof that you are the rightful owner, which usually means a copy of the death certificate and documentation showing you are the beneficiary or heir.

The person who owned the bond before you may have already reported the interest for tax purposes, or they may have deferred it. Check with the estate's executor or the deceased person's tax records to understand the tax situation. When you cash inherited bonds, you will owe tax on any interest earned after the original owner's death, but not on interest earned before.

Frequently Asked Questions

Can I cash an EE bond online through TreasuryDirect?

No. Even if you bought your EE bond through TreasuryDirect, you cannot redeem it online. You must either take the physical bond to a bank or mail it to the Treasury Department. TreasuryDirect only allows you to manage book-entry bonds (bonds held electronically), not paper bonds.

What happens if I cash a bond before it matures?

You receive the current redemption value, which includes all interest earned to date. If the bond has been held for less than five years, you lose the last three months of interest. The bond stops earning interest once you cash it, so there is no benefit to waiting longer if you need the money.

Do I need to report the bond's serial number when I cash it?

At a bank, the teller will record the serial number as part of the transaction. If you mail the bond to the Treasury Department, include the serial number in your letter so they can verify it matches their records. Having the serial number speeds up the process, but the Treasury Department can identify bonds by your name and Social Security number if needed.

How much will my EE bond be worth when I cash it?

The redemption value depends on the bond's issue date and the current month. The Treasury Department publishes redemption values monthly on its website. You can also call 844-284-2676 to ask for the current value of a specific bond, or visit treasurydirect.gov and use their savings bond calculator if you know the issue date and denomination.

Can someone else cash my EE bond for me?

At a bank, you must be present with a valid ID. You cannot authorize someone else to cash the bond on your behalf. If you cannot visit a bank in person, mailing the bond to the Treasury Department is your only option. A power of attorney does not allow someone else to cash your bonds.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.