Where to cash your EE bond

You can cash an EE savings bond at most banks and credit unions, even if you don't have an account there. Call ahead to confirm they handle savings bonds — not every branch does, and some require an appointment. Bring the physical bond certificate and a valid ID.

If you don't want to visit a bank, you can mail the bond directly to the Treasury Department. Send it to the Bureau of the Fiscal Service, Parkersburg, WV 26106-1328, along with a form of ID (a photocopy is acceptable). Include a letter stating your name, address, and the bond's serial number. The Treasury will mail you a check, which typically takes four to six weeks.

You can also cash bonds through your financial institution if you have an account there — many banks and brokerages allow you to deposit bonds electronically through their systems, though this option is less common than it once was.

Key Takeaways

  • Most banks and credit unions will cash EE bonds over the counter without requiring you to be a customer, but you must bring the physical certificate and valid ID.
  • You can mail bonds directly to the Treasury Department's Parkersburg office with a photocopy of your ID and a letter listing the bond's serial number.
  • EE bonds must be at least one year old to cash without penalty; if you cash before five years, you lose the last three months of interest.
  • The amount you receive is the bond's current redemption value, which you can look up on the Treasury's website before you cash it.
  • You will owe federal income tax on the interest earned, though not state or local tax.

Check your bond's current value before cashing

The amount you receive when you cash an EE bond is not the face value printed on the certificate — it is the redemption value, which includes the principal plus all interest earned to date. You can look this up for free on the Treasury Department's website at treasurydirect.gov.

Go to the Savings Bond Calculator tool, enter the bond's series (EE), issue date, and denomination, and it will show you exactly what the bond is worth on any given date. This takes two minutes and removes any guesswork about how much money you will receive.

If you have multiple bonds, calculate each one separately so you know the total before you walk into the bank. This also helps you decide which bonds to cash if you only need a certain amount of money.

Age requirements and early redemption penalties

An EE bond must be at least one year old before you can cash it at all. If you try to cash a bond less than a year after purchase, the bank or Treasury will refuse.

If you cash the bond between one and five years after purchase, you lose the last three months of interest. For example, if a bond has earned $50 in interest but you cash it at year three, you receive only $37.50 in interest (the first 33 months' worth). After five years, there is no penalty — you receive the full redemption value.

This penalty applies only to the interest, not to your original investment. You always get your principal back, regardless of when you cash.

What happens with the money and taxes

When you cash an EE bond, you receive a check (or direct deposit if you use the Treasury's mail-in process with a bank account on file). There is no withholding — the full redemption value goes to you, and you are responsible for reporting the interest on your federal tax return.

The interest you earned is subject to federal income tax in the year you cash the bond. You do not owe state or local income tax on the interest, even if your state taxes other types of interest income. The bank or Treasury will not send you a tax form automatically; you will need to report the interest yourself when you file.

If you have a large bond or multiple bonds, consider cashing them in different tax years to spread the income across years and potentially stay in a lower tax bracket. This is a decision to discuss with a tax professional if the amounts are substantial.

Cashing bonds held in someone else's name

If the bond is registered in your name only, you can cash it with just your ID. If it is registered as "you or your spouse" or "you and your spouse jointly," both owners must be present at the bank, or one owner must have written authorization from the other.

If the bond owner has died, the person handling the estate (the executor or administrator) can cash it, but they will need to bring a death certificate and proof of their authority — usually a court document or the will itself. Some banks require additional paperwork in this situation, so call ahead.

If you are the beneficiary of a bond but not the registered owner, you cannot cash it yourself. The estate or the registered owner must cash it first.

What to bring to the bank

Bring the physical bond certificate itself — you cannot cash a bond with just the serial number or a photocopy. Bring a valid government-issued ID (driver's license, passport, or state ID). If the bond is registered to two people, both must be present with ID.

Call the bank branch ahead of time to confirm they cash savings bonds and ask whether they need an appointment. Some branches handle bonds only on certain days or require advance notice. If you are mailing the bond to the Treasury, include a photocopy of your ID and a simple letter with your name, address, phone number, and the bond's series and serial number.

If your bond is lost or damaged

If the bond certificate is lost or destroyed, you can still cash it, but the process takes longer. Contact the Treasury Department directly at 1-844-284-2676 or submit a claim through TreasuryDirect. You will need to provide the bond's series, denomination, and issue date. The Treasury will verify the bond in their records and issue a replacement or payment.

If the certificate is damaged but readable, most banks will still accept it. If it is severely damaged or illegible, the bank may refuse it and direct you to contact the Treasury instead.

Frequently Asked Questions

Can I cash an EE bond at any bank?

Most banks and credit unions cash savings bonds, but not all branches do. Call ahead to confirm, and bring your physical certificate and valid ID. You do not need to have an account at that bank.

What if I cash my bond before five years?

You lose the last three months of interest earned. Your principal is always returned in full. After five years, you receive the entire redemption value with no penalty.

Do I have to pay taxes when I cash an EE bond?

You owe federal income tax on the interest earned, but not state or local tax. You report it on your tax return in the year you cash the bond. No tax is withheld upfront.

How long does it take to get my money if I mail the bond to the Treasury?

The Treasury typically mails a check within four to six weeks of receiving your bond. If you provide a bank account number, they can deposit it directly, which may be slightly faster.

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

Both owners must be present at the bank with valid ID, or one owner must provide written authorization from the other. If you are mailing it, both owners should sign the letter.