Where and how to redeem your Series EE bond

You can cash in a Series EE savings bond at most banks and credit unions, or directly through the U.S. Department of the Treasury if you own the bond in electronic form. The method depends on whether your bond is paper or digital.

For paper bonds, walk into any bank or credit union with the bond itself and a valid photo ID. The teller will verify the bond's serial number, check that you are the registered owner or an authorized representative, and process the redemption. Some banks charge a small fee for this service—typically $5 to $10—though many do not. Call ahead to confirm whether your branch handles bond redemptions and whether they charge.

For electronic bonds held in TreasuryDirect (the Treasury's online system), log into your account at treasurydirect.gov, select the bond you want to redeem, and request the redemption. The money transfers to your linked bank account within one to three business days. There is no fee for this method.

Key Takeaways

  • Paper Series EE bonds can be cashed at any bank or credit union with your bond and photo ID, though some branches charge a small fee.
  • Electronic bonds held in TreasuryDirect are redeemed online with no fee, and the money reaches your bank account in one to three business days.
  • Series EE bonds must be held for at least one year before you can redeem them, and you lose the last three months of interest if you cash them in before five years.
  • The Treasury will send you a 1099-INT form if your bond earned more than $10 in interest during the year, which you must report on your tax return.
  • If you lose a paper bond, contact the Treasury's Bureau of the Fiscal Service to report it and request a replacement.

The one-year and five-year rules

Series EE bonds have two important timing rules that affect when and how much you receive. You cannot redeem a Series EE bond until it has been held for at least one year. If you try to cash it in before that point, the bank or Treasury will refuse the request.

If you redeem the bond between one and five years of ownership, you lose the last three months of interest. For example, if you bought the bond on January 15, 2022, and redeem it on March 1, 2024 (just over two years), you receive interest only through November 2023—not through March 2024. After five years of ownership, you keep all accrued interest with no penalty.

What happens to the interest you earn

The interest on a Series EE bond is taxable income in the year you redeem it. When you cash in the bond, the bank or Treasury calculates the total interest earned and reports it to you and the IRS on a 1099-INT form if the interest exceeds $10.

You must report this interest on your federal tax return in the year you redeem the bond, even if you do not receive a 1099-INT. If you held the bond for many years, the interest amount can be substantial—Series EE bonds purchased before May 2003 earn 4% annual interest, while newer bonds earn less. Keep the redemption receipt or confirmation email for your records.

Some people choose to redeem bonds in a year when their income is lower to reduce their tax bracket impact, though this requires planning ahead. You cannot defer the tax by not cashing the bond—the interest becomes taxable only when you redeem it.

Redeeming a bond you inherited

If you inherited a Series EE bond, you can redeem it at a bank or through TreasuryDirect, but you will need to prove your relationship to the original owner. Bring the bond, your photo ID, and a certified copy of the death certificate to the bank. Some banks require additional documentation, so call ahead.

The interest earned on an inherited bond is taxable to you in the year you redeem it. If the original owner had not yet redeemed the bond, you report the interest on your return, not the deceased person's final return. If you are unsure about the tax treatment, consult a tax professional before redeeming.

Replacing a lost or damaged paper bond

If you lose a paper Series EE bond or it becomes damaged, contact the Bureau of the Fiscal Service at 844-284-2676 or visit treasurydirect.gov. You will need to provide the bond's serial number, the issue date, the denomination, and the name of the registered owner. If you do not have the serial number, the process takes longer but is still possible if you can provide other identifying details.

The Treasury will investigate whether the bond has already been cashed. If it has not, they will issue a replacement bond with the same value and accrued interest. This process typically takes several weeks. In the meantime, you cannot redeem the bond—you must wait for the replacement to arrive.

What to do if a bank refuses to redeem your bond

Some banks, particularly smaller branches or those that rarely handle bonds, may say they cannot redeem your bond. If this happens, ask to speak with a manager or call the main branch. If the bank still refuses, you have two options: take the bond to a different bank, or redeem it directly through TreasuryDirect if you can convert it to electronic form.

To convert a paper bond to electronic form, you must open a TreasuryDirect account and submit a request through the system. This process can take several weeks. The easier route is usually to find another bank that handles bond redemptions—most larger branches do, and credit unions often have fewer restrictions than banks.

Cashing in bonds before maturity

Series EE bonds have a maturity date of 30 years, but you do not have to wait that long to redeem them. You can cash in a bond as soon as one year has passed, though you will lose the last three months of interest if you redeem before five years. After 30 years, the bond stops earning interest, so there is no benefit to holding it longer.

If you need the money before one year has passed, you cannot redeem the bond through normal channels. Your only option is to contact the Treasury directly and explain your situation—they may make an exception for hardship, though this is rare and not may provide. Most people in financial hardship are better served by other resources than waiting for a bond redemption exception.

Frequently Asked Questions

Can I cash in a Series EE bond at any bank?

Most banks and credit unions will redeem Series EE bonds, but some smaller branches do not handle them regularly. Call ahead to confirm your branch redeems bonds and ask whether they charge a fee. If your bank refuses, try a larger branch or a different bank.

What if I lost the bond certificate but remember buying it?

If you bought the bond through TreasuryDirect, log into your account and redeem it online—you do not need the physical certificate. If you bought a paper bond and lost it, contact the Bureau of the Fiscal Service at 844-284-2676 with as much information as you can provide about the purchase date, amount, and owner name. They will search their records and issue a replacement if the bond has not been cashed.

Do I have to pay taxes on the interest when I redeem the bond?

Yes. The interest is taxable income in the year you redeem the bond. You must report it on your federal tax return, and the Treasury will send you a 1099-INT form if the interest exceeds $10. You cannot avoid this tax by waiting to redeem the bond later.

What happens if I redeem my bond after 30 years?

Series EE bonds stop earning interest after 30 years. If you redeem after that point, you receive only the principal and the interest earned up to year 30. There is no penalty for redeeming after 30 years, but you gain nothing by waiting.

Can someone else cash in my Series EE bond?

Only the registered owner or an authorized representative can redeem a bond. If you are the registered owner, you must be present with a photo ID. If someone else is authorized—such as a parent redeeming a bond for a minor child—they will need documentation of that authority, such as a power of attorney or guardianship papers.