You can cash Series EE bonds at your bank, through the Treasury Department, or by mail — but only after they reach 30 days old

Series EE bonds become redeemable after 30 days, meaning you can turn them into cash at any point after that date. The fastest way is to take the bond to a bank where you have an account and ask them to redeem it. The bank will verify the bond's serial number and current value, then deposit the cash into your account. Most banks do this same-day or within one business day.

If you don't have a bank account or prefer not to use one, you can redeem bonds directly through the U.S. Department of the Treasury's TreasuryDirect website. You'll need to set up a TreasuryDirect account, link your bank account for the deposit, and submit the redemption request online. Processing typically takes three to five business days.

For paper bonds (older EE bonds issued before 2012), you can also mail them to a Federal Reserve Bank with a completed form. This method is slower — allow two to three weeks — but works if you have no other option.

Key Takeaways

  • Series EE bonds must be at least 30 days old before you can redeem them for cash.
  • Taking a bond to your bank is the fastest method and usually completes within one business day.
  • TreasuryDirect redemptions take three to five business days and require an online account linked to your bank.
  • Paper bonds can be mailed to a Federal Reserve Bank, but this method takes two to three weeks.
  • You will owe federal income tax on the interest earned, though you can defer this tax until you redeem or the bond matures.

Redeeming through your bank

Bring your Series EE bond and a valid photo ID to any branch of a bank where you have a checking or savings account. Tell the teller you want to redeem the bond. The bank will look up the bond's current value using the serial number and issue date — this value includes the original purchase price plus all interest earned to date.

The bank will then ask you to sign the back of the bond and complete a redemption form. Once signed, the bond is no longer valid. The bank deposits the cash into your account, usually the same day or by the next business day. Some banks may charge a small fee for this service, though many do not — ask before you hand over the bond.

If you have a paper bond from before 2012, your bank can still redeem it this way. If you have a digital bond purchased through TreasuryDirect, you cannot redeem it at a bank — you must use TreasuryDirect instead.

Redeeming through TreasuryDirect online

Go to TreasuryDirect.gov and log into your account. If you don't have one, you'll need to create it using your Social Security number, email address, and a password. You'll also need to link a U.S. bank account for the deposit.

Once logged in, navigate to the "Manage Securities" section and select the Series EE bond you want to redeem. Click "Redeem" and confirm the transaction. The Treasury will process the redemption and deposit the funds into your linked bank account within three to five business days. You'll receive an email confirmation with the transaction details.

This method works only for digital bonds — bonds you purchased through TreasuryDirect after 2012. If you own paper bonds, you cannot redeem them online.

Redeeming paper bonds by mail

If you hold a paper Series EE bond issued before 2012, you can mail it to a Federal Reserve Bank for redemption. First, sign the back of the bond exactly as your name appears on the front. Do not sign it before you're ready to mail it.

Complete Form PD F 1522 (available on the Treasury website) and include it with your bond in an envelope. Mail both to the Federal Reserve Bank serving your region — the Treasury website has a list of addresses by state. Include a note with your name, address, phone number, and the bank account where you want the deposit sent.

Send the package by certified mail with return receipt requested so you have proof of delivery. Processing takes two to three weeks from the time the Federal Reserve receives it. This method is slow and carries the small risk of loss in the mail, so use it only if you cannot visit a bank or access TreasuryDirect.

Tax consequences of cashing in your bonds

When you redeem a Series EE bond, you owe federal income tax on all the interest you earned. The interest is taxed as ordinary income at your regular tax rate, not at a capital gains rate. You do not owe state or local income tax on Series EE bond interest.

The bank or Treasury will not withhold taxes automatically — you are responsible for reporting the interest on your tax return. If you redeemed bonds during the year, you'll report the interest earned on Form 1040 when you file. Keep records of the bond's purchase price and redemption value so you can calculate the exact interest amount.

One exception: if you used Series EE bonds to pay for may have access to education expenses (tuition and fees at an accredited school), you may be able to exclude some or all of the interest from your taxable income. This requires meeting income limits and other conditions, so consult a tax professional if this applies to you.

What happens if you cash in a bond before five years

Series EE bonds have a penalty for early redemption if you cash them in before five years have passed. The penalty is the loss of the last three months of interest. This means if you redeem a bond that is four years old, you forfeit the interest that would have accrued in months 46, 47, and 48.

After five years, there is no penalty — you receive all interest earned up to the redemption date. This is why many people hold Series EE bonds for at least five years even if they don't need the money immediately. The penalty is automatic; the bank or Treasury will calculate it and reduce your redemption value accordingly.

Series EE bonds continue to earn interest for 30 years from the issue date, so you can hold them much longer than five years if you choose. The longer you hold them, the more interest accumulates.

Finding the current value of your bond

The Treasury provides a free online tool called the Savings Bond Calculator on TreasuryDirect.gov. Enter your bond's series, denomination, issue date, and serial number, and the calculator shows you the exact current value. This is the amount you will receive if you redeem the bond today.

If you don't have access to the internet or prefer not to use the calculator, call the Treasury's customer service line at 844-284-2676. A representative can look up your bond's value if you provide the serial number and issue date. You can also visit a bank and ask a teller to look it up for you.

Bond values change monthly, so the value today may be slightly different from the value next month. Check the current value shortly before you plan to redeem so you know exactly how much you'll receive.

Frequently Asked Questions

Can I redeem a Series EE bond if it's less than 30 days old?

No. Series EE bonds must be at least 30 days old before redemption. If you try to redeem one earlier, the bank or Treasury will refuse. This rule applies to all Series EE bonds regardless of when they were issued.

What if I lost my Series EE bond?

Contact the Treasury's customer service at 844-284-2676 with your bond's serial number and issue date. The Treasury can verify ownership and issue a replacement bond or process a redemption without the physical bond. You'll need to provide proof of ownership, such as purchase records or statements.

Can I redeem a Series EE bond if someone else's name is on it?

Only the person whose name appears on the bond can redeem it. If the bond is in your name and another person's name, both of you must sign it and be present at the bank. If the bond is in someone else's name only, you cannot redeem it unless you have legal authority (such as being the executor of their estate).

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

Series EE bonds are all-or-nothing — you cannot redeem a partial amount. When you redeem, you must cash in the entire bond. If you only need part of the value, you'll receive the full amount and will need to manage the extra cash separately.

What's the difference between redeeming and cashing in?

These terms mean the same thing. "Redeeming" and "cashing in" both refer to turning your bond into cash. You may hear either phrase used by banks or the Treasury, but they describe the same transaction.