Where to cash your Series EE bond

You can cash a Series EE bond at most banks and credit unions, or directly through the U.S. Department of the Treasury. The easiest route depends on whether you have an account at a financial institution and whether you want to handle it in person or online.

Banks and credit unions will cash the bond for you on the spot if you bring the physical bond and a valid ID. Call ahead to confirm they cash savings bonds — not all branches do, and some require you to have an account there. Credit unions sometimes have stricter rules than banks, so verify before you go.

If you prefer not to visit a branch, you can redeem the bond through TreasuryDirect, the Treasury's online platform. This route works only if the bond is registered in your name (not as a gift from someone else) and you have a TreasuryDirect account. You'll need to scan or photograph the bond and upload it to the site.

Key Takeaways

  • Banks and credit unions can cash your bond in person if you bring the physical bond and a valid ID, though you should call first to confirm they offer this service.
  • TreasuryDirect lets you redeem the bond online if it's registered in your name and you have an account, but the process takes several business days.
  • Series EE bonds must reach their final maturity date (30 years from issue) before you can cash them, though you can redeem them early after five years without penalty.
  • The Treasury will send you a check by mail if you redeem through TreasuryDirect, which typically arrives within two to three weeks.
  • You'll owe federal income tax on the interest earned, but not state or local tax, and you can choose to report it all in the year you cash it or spread it across years.

Checking the bond's maturity and value

Before you cash the bond, you need to know when it was issued and what it's worth. Series EE bonds issued after May 2003 have a 30-year maturity period, meaning you can hold them for up to 30 years. You can redeem them early after five years without penalty, but if you cash them before five years have passed, you'll lose the last three months of interest.

To find out what your bond is worth right now, use the Savings Bond Calculator on the Treasury website. You'll enter the bond's series (EE), the issue date, and the denomination (the face value printed on the bond). The calculator will tell you the current redemption value, which includes the original purchase price plus all interest earned to date.

Keep the bond in a safe place until you're ready to cash it. If it gets lost or damaged, you can file a claim with the Treasury, but the process takes time and requires proof of ownership. A photocopy or photo of the bond is useful for your records.

What you'll need to bring or provide

At a bank or credit union, bring the physical bond itself and a government-issued photo ID (driver's license, passport, or state ID card). Some institutions may ask for your Social Security number or tax ID, so have that ready. If you're cashing someone else's bond as their authorized representative, you'll need a power of attorney document or a letter from the bondholder authorizing you to act on their behalf.

If you're redeeming through TreasuryDirect online, you'll need to log into your account and have a clear image of the bond — either a scan or a photograph of both the front and back. The site will walk you through uploading the images and confirming the bond details. You'll also need to specify which bank account you want the funds deposited into.

How long the process takes

Cashing a bond at a bank or credit union is the fastest option. You'll walk out with your money the same day, either as a check or deposited directly into your account if you're a customer there. The teller will verify the bond's authenticity and check that it hasn't been reported lost or stolen, which usually takes just a few minutes.

Redeeming through TreasuryDirect takes longer. After you upload the bond images and submit your request, the Treasury processes it and mails you a check. This typically takes two to three weeks from the date you submit. You won't receive an email confirmation — you'll only know it's been processed when the check arrives.

Tax reporting when you cash the bond

The interest you earn on a Series EE bond is subject to federal income tax, but not state or local tax. You have two options for when to report this income: you can report all of it in the year you cash the bond, or you can report it in the year the bond was issued and spread it across all the years you held it.

Most people report the interest in the year they cash the bond, which is simpler. When you redeem through a bank, the institution will give you a Form 1099-INT showing the interest earned. If you redeem through TreasuryDirect, you'll receive the same form by mail. Keep this form with your tax records.

If the bond was a gift to you from someone else, you still owe tax on the interest that accrued after you received it. The original owner may have already reported some of the interest, so ask them what they reported before you file your own return.

What to do if the bond is lost or damaged

If your bond is lost, stolen, or too damaged to read, contact the Treasury's Bureau of the Fiscal Service. You'll need to file a claim and provide proof that you owned the bond — this might be a photocopy you kept, a bank statement showing the purchase, or a letter from the person who gave it to you as a gift. The process can take several months.

If the bond is slightly damaged but still readable, most banks will still cash it. If it's torn, faded, or has writing on it, ask the teller whether they can accept it. If they refuse, you can try another bank, or contact the Treasury directly to request a replacement.

Cashing bonds registered to a minor or deceased person

If the bond is registered in a child's name, a parent or legal guardian can cash it on their behalf. Bring the child's birth certificate or Social Security card along with your ID and the bond. The bank will deposit the funds into an account in the child's name, or you may be able to have it go into a custodial account.

If the bondholder has passed away, the bond becomes part of their estate. The executor or administrator of the estate can cash it, but they'll need to provide a death certificate and proof of their authority (such as letters testamentary from the probate court). Contact the Treasury or a bank for specific requirements in your state, as these vary.

Frequently Asked Questions

Can I cash a Series EE bond before it reaches maturity?

Yes, you can redeem it after five years without losing any interest. If you cash it before five years have passed, you'll forfeit the last three months of interest earned. After 30 years, the bond stops earning interest, so there's no benefit to holding it longer.

What if my bank won't cash the bond?

Try another bank or credit union in your area — most will cash savings bonds for customers and non-customers alike. If you have trouble finding one locally, redeem it through TreasuryDirect online instead, which takes two to three weeks but requires no in-person visit.

Do I have to report the interest as income if I cash the bond?

Yes, the interest is taxable federal income. You'll receive a Form 1099-INT from the bank or Treasury showing the amount. You can report it all in the year you cash the bond, or you can report it spread across the years you held it — check with a tax professional about which option makes sense for your situation.

What happens if I lose the physical bond?

Contact the Treasury's Bureau of the Fiscal Service to file a claim. You'll need to provide proof of ownership, such as a photocopy, purchase receipt, or a letter from the person who gave it to you. The replacement process takes several months, so keep copies of important bonds in a safe place.

Can someone else cash my bond for me?

Yes, if you give them written authorization or a power of attorney document. They'll need to bring that document along with the bond and their own ID to the bank. Alternatively, you can redeem it yourself through TreasuryDirect and have the funds deposited into any bank account you specify.