You can cash Series EE bonds at your bank, through the Treasury Department, or by mail — the method depends on whether you have the physical bond or a digital record

Series EE bonds are registered to you, so only you (or your estate) can cash them. The process itself is straightforward: you prove who you are, show you own the bond, and receive the money. Where you cash them matters because some routes are faster and some work only for certain bond types.

If you have a physical paper bond, your bank or credit union is usually the fastest option — most will cash them same-day if you have an account there. If you own digital bonds purchased through TreasuryDirect (the Treasury Department's online system), you must redeem them through TreasuryDirect itself. You cannot walk into a bank with a digital bond and cash it.

The Treasury Department will also cash bonds by mail if you prefer not to visit a bank, though this takes longer. You do not need to wait until the bond reaches final maturity — you can cash Series EE bonds after five years, though you will lose the last three months of interest if you cash them before 20 years.

Key Takeaways

  • Paper Series EE bonds can be cashed at most banks and credit unions the same day you bring them in, as long as you have a valid ID and an account at that institution.
  • Digital Series EE bonds purchased through TreasuryDirect must be redeemed through your TreasuryDirect account online — banks cannot cash them.
  • You can cash Series EE bonds after five years, but cashing them before 20 years means you lose the final three months of interest as a penalty.
  • The Treasury Department will cash bonds by mail if you send the bond and a signed form, though the process takes two to three weeks.
  • You will receive a 1099-INT form reporting the interest earned, which you must report on your tax return for the year you cash the bond.

Cashing paper bonds at your bank

Bring your physical Series EE bond and a valid government-issued ID to any bank or credit union where you have an account. Most institutions will cash the bond on the spot. You do not need to have held the account for any length of time, but you do need to be a customer — banks will not cash bonds for non-account holders.

The teller will verify the bond's serial number, check that it has not been reported lost or stolen, and confirm you are the registered owner. If the bond is registered to you and a co-owner (such as a spouse), both of you must be present to cash it, or the co-owner must sign a power of attorney form. If the bond is registered to a deceased person's estate, bring the death certificate and any court documents showing you have authority to handle the estate.

You will receive the full redemption value — the original purchase price plus all interest earned to that date. The bank will give you cash, a check, or a deposit to your account, depending on the amount and the bank's policy. Ask the teller which forms of payment they offer before you arrive.

Redeeming digital bonds through TreasuryDirect

Log into your TreasuryDirect account at treasurydirect.gov using your username and password. Navigate to "Manage My Securities" and select the Series EE bond you want to redeem. Click the "Redeem" button and confirm the transaction.

The money will be deposited directly into the bank account you have linked to your TreasuryDirect account within one to two business days. You cannot receive cash or a check — the Treasury Department only transfers funds electronically. If you have not yet linked a bank account to TreasuryDirect, you will need to do that before you can redeem any bonds.

Digital bonds redeemed through TreasuryDirect are processed when ready, so there is no waiting period like there is with mail-in redemptions. This is the fastest method if you own digital bonds and have internet access.

Mailing bonds to the Treasury Department

If you prefer not to visit a bank or do not have a TreasuryDirect account, you can mail your paper bond to the Treasury Department's Bureau of the Fiscal Service. You will need to complete Form PD 1851 (Request for Payment of Savings Bond), sign it in front of a witness (not a notary — a witness is any adult who knows you), and mail both the form and the bond together.

Send the envelope to: Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. The Treasury Department recommends using certified mail with return receipt so you have proof of delivery. The process takes two to three weeks from the date they receive your package.

You will receive a check by mail at the address on file with the Treasury Department. If you want the money deposited directly instead, you can request that on the form, though you will need to provide your bank account and routing number. Keep a copy of the form and the certified mail receipt until the check arrives.

What happens if your bond is lost or stolen

Report a lost or stolen Series EE bond to the Treasury Department when ready by calling 844-284-2676 or by filing a claim online through TreasuryDirect. The Treasury Department will flag the bond's serial number so it cannot be cashed by anyone else.

You can request a replacement bond for the same value. The process takes several weeks, and you will need to provide proof of ownership — usually your purchase receipt or a statement from TreasuryDirect showing you own the bond. If you cannot provide proof, the Treasury Department may require you to file a lost-bond claim, which involves filling out additional paperwork and waiting for approval.

Tax reporting when you cash your bond

When you redeem a Series EE bond, the issuing institution (your bank, credit union, or the Treasury Department) will send you a Form 1099-INT showing the interest you earned. You must report this interest on your federal tax return for the year you cashed the bond, even if you do not receive the form until the following year.

The interest is taxable at the federal level. Some states also tax savings bond interest, though many do not — check your state's tax rules. You do not owe tax on the original purchase price, only on the interest earned.

If you cashed the bond before age 24 and used the proceeds for may have access to education expenses (tuition, fees, books, room and board at an accredited school), you may be able to exclude some or all of the interest from your taxable income under the Education Savings Bond Program. You will need to file Form 8815 with your tax return to claim this exclusion. The rules are complex, so consider consulting a tax professional if you think you may have access to.

Early redemption and the three-month interest penalty

Series EE bonds reach their final maturity after 30 years, but you can cash them anytime after five years. If you cash a bond before it has been held for 20 years, you lose the last three months of interest as a penalty.

For example, if you bought a Series EE bond on January 15, 2010, and cashed it on March 1, 2024 (14 years later), you would receive interest only through November 30, 2023 — the last three months of accrued interest would be forfeited. This penalty applies whether you cash the bond at a bank, through TreasuryDirect, or by mail.

If you hold the bond for 20 years or longer, you receive all accrued interest with no penalty. Many people hold Series EE bonds until they reach 20 years specifically to avoid this penalty.

Frequently Asked Questions

Can someone else cash my Series EE bond if I give them permission?

No. Only the registered owner can cash a Series EE bond. If you want someone else to handle it, you must sign a power of attorney form authorizing them to act on your behalf. The bank or Treasury Department will require the original power of attorney document, not a copy.

What if I lost the paper bond but still have the receipt?

Contact the Treasury Department at 844-284-2676 with your receipt and other proof of purchase. They can look up the bond in their system and issue a replacement. The process takes several weeks, and you may need to provide additional documentation.

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

Series EE bonds are all-or-nothing — you cannot cash a portion of a bond. You must redeem the entire bond for its full value. If you own multiple bonds, you can choose which ones to cash and leave others untouched.

What if the bank says they cannot cash my Series EE bond?

Some smaller banks and credit unions do not cash savings bonds. If your bank declines, try another bank in your area, or use the mail-in method through the Treasury Department. You can also open a TreasuryDirect account and transfer your digital bond there if you own one.

How long does it take to get the money after I cash my bond?

At a bank, you receive the money the same day. Through TreasuryDirect, the deposit takes one to two business days. By mail to the Treasury Department, the entire process takes two to three weeks from the date they receive your package.