US savings bonds mature on a fixed schedule set when you buy them

A US savings bond reaches final maturity — the point at which it stops earning interest — on a date printed on the bond itself. For Series EE bonds bought after May 2003, final maturity is 30 years from the issue date. For Series I bonds, final maturity is also 30 years. Series HH bonds (no longer sold) matured after 20 years.

The maturity date is not when you must cash the bond. You can hold it after maturity, but it will not earn any more interest. The Treasury will not automatically cash it or send you money — you have to take action to redeem it yourself.

If you own older bonds, the maturity date depends on when they were issued. A Series EE bond bought in 1995 matured in 2025. A Series I bond bought in 2000 matured in 2030. You can look up the exact maturity date by checking the issue date on your bond or your Treasury Direct account.

Key Takeaways

  • Series EE and Series I bonds stop earning interest 30 years after you buy them, and that date is printed on your bond or shown in your Treasury Direct account.
  • You do not have to cash a bond when it matures — you can hold it indefinitely, but it will earn zero interest after the maturity date.
  • The Treasury does not automatically redeem mature bonds or send you the money; you must cash them yourself through a bank or Treasury Direct.
  • If you own paper bonds, you can find the maturity date by looking at the issue date printed on the bond itself.

How to find your bond's maturity date

If you own bonds through Treasury Direct (the federal government's online bond account system), log in and view your holdings. The issue date appears next to each bond. Add 30 years to that date to find when it stops earning interest.

If you own paper bonds, look at the bond itself. The issue date is printed on the front. Count forward 30 years for Series EE or Series I bonds. For example, a Series EE bond issued May 2010 matures in May 2040.

If you have lost track of your bonds or do not know what type you own, the Treasury's Savings Bond Calculator tool (available on treasurydirect.gov) lets you enter the series, denomination, and issue date to see the maturity date and current value. You can also contact the Bureau of the Fiscal Service at 844-284-2676 if you need help locating bonds or confirming their details.

What happens when a bond reaches maturity

On the maturity date, the bond stops accruing interest. The principal and all accumulated interest remain yours, but no new interest is added after that day. If you leave the bond sitting in your account or in a safe deposit box, the value stays frozen at whatever it was worth on the maturity date.

You can hold a mature bond for years without cashing it. There is no penalty for keeping it, and the Treasury will not force you to redeem it. However, holding a mature bond serves no financial purpose — you are not earning anything, and inflation erodes the purchasing power of your money.

If you own the bond through Treasury Direct, you can see the maturity status in your account. Paper bonds do not have a visible indicator that they have matured, so you must track the date yourself or use the Savings Bond Calculator.

How to cash a mature bond

For bonds held in Treasury Direct, log into your account, select the mature bond, and request a redemption. The Treasury will deposit the money into your linked bank account within a few business days.

For paper bonds, take them to a bank or credit union where you have an account. Bring a photo ID and the bonds themselves. The financial institution will verify the bonds, confirm they are yours, and deposit the redemption value into your account. Some banks may charge a small fee for this service, though many do not.

If you no longer have a bank account or prefer not to use one, you can mail paper bonds to the Treasury's Bureau of the Fiscal Service along with a form requesting redemption. Processing by mail takes longer — typically four to six weeks — so this method is slower than in-person redemption.

Tax implications of cashing a mature bond

When you redeem a savings bond, you owe federal income tax on the interest you earned, not on the original amount you paid. For example, if you bought a $100 Series EE bond and it is now worth $200, you owe tax on the $100 in interest.

You can report the interest in the year you cash the bond, or you can report it each year as it accrues (though most people do not). If you have been reporting interest annually, you will not owe tax again when you redeem.

Savings bond interest is not subject to state or local income tax, only federal tax. You will receive a Form 1099-INT from the Treasury showing the interest earned if the amount is $10 or more in a single year.

What to do if you have lost a paper bond

If a paper bond is lost, stolen, or destroyed, contact the Bureau of the Fiscal Service at 844-284-2676 or submit a claim through their website. You will need to provide the series, denomination, and issue date if you have them. The Treasury can search their records and may issue a replacement or process a claim for the value.

This process takes time — typically several months — and you will need to prove you owned the bond. Having documentation like old purchase receipts or records of the serial numbers helps speed the claim.

If the bond has already matured, the replacement will also be mature and will not earn additional interest. The Treasury will pay you the value as of the maturity date, not the current date.

Reinvesting the money from a mature bond

Once you cash a mature bond, you have the full amount in your bank account. You can spend it, leave it in savings, or reinvest it in new savings bonds or other vehicles.

If you want to buy new savings bonds, you can purchase them through Treasury Direct (up to $10,000 per person per calendar year in electronic bonds, plus up to $5,000 in paper Series I bonds if you use your tax refund). You can also buy bonds through a bank or broker, though the selection and terms may differ.

Consider the current interest rates on new bonds before reinvesting. Series I bonds earn interest based on inflation, while Series EE bonds earn a fixed rate. Rates change every six months, so the rate on a new bond will not match the rate on the one you just cashed.

Frequently Asked Questions

Can I cash a bond before it matures?

Yes, but with a penalty. Series EE and Series I bonds can be cashed anytime after one year of ownership, but if you cash within five years, you lose the last three months of interest. After five years, there is no penalty. This is different from maturity — you can redeem early, but you will not receive the full value the bond would have at maturity.

What if I inherited a mature bond from someone else?

You can cash an inherited bond at a bank using the deceased person's bond and a death certificate or court documents proving you are the heir. The interest earned up to the date of death is taxable to the deceased person's estate. Interest earned after that date is taxable to you in the year you redeem the bond.

Do I have to cash all my bonds at once?

No. You can cash one bond, some bonds, or all of them whenever you choose. There is no requirement to redeem them together. This flexibility lets you spread out the tax impact across multiple years if you prefer.

What happens if I never cash a mature bond?

Nothing legally happens. The bond remains yours and the Treasury will not take it. However, you stop earning interest, and the value does not grow. If you lose the bond or forget about it, you can still redeem it years later by contacting the Treasury with the bond details.

Are there any penalties for holding a bond past maturity?

No penalties exist for holding a mature bond. The only cost is the opportunity cost — your money is not earning interest and is losing value to inflation. From a financial standpoint, cashing and reinvesting or moving the money elsewhere usually makes more sense.