To cash in a savings bond, take a paper bond and a photo ID to a bank that redeems them, mail the bond to the Treasury with a certified FS Form 1522, or log in to TreasuryDirect and redeem an electronic bond online. Which path you use depends on whether your bond is paper or electronic, how much it’s worth, and whether your bank handles redemptions at all. Before you do anything, confirm the bond has been held long enough to redeem without losing more interest than you have to.
When You Can Cash a Savings Bond
Every Series EE and Series I savings bond has a minimum holding period. If your bond was issued in February 2003 or later, you must wait at least 12 months from the issue date before you can redeem it.1TreasuryDirect. Minimum Holding Period for Savings Bonds Extended Bonds issued before February 2003 have a six-month minimum holding period.2eCFR. 31 CFR 353.35 – Payment (Redemption)
Cash a bond before you’ve held it five years and you forfeit the last three months of interest. Redeem after 18 months, for instance, and you receive your original investment plus 15 months of interest. The redemption value will never drop below what you originally paid.3eCFR. 31 CFR Part 351 Subpart B – Maturities, Redemption Values, and Investment Yields of Series EE Savings Bonds After five years, no penalty applies.
EE and I bonds reach final maturity 30 years after their issue date and stop earning interest at that point.3eCFR. 31 CFR Part 351 Subpart B – Maturities, Redemption Values, and Investment Yields of Series EE Savings Bonds Holding them past that date earns you nothing further.
What You Need Before You Redeem
For any in-person redemption, bring a valid government-issued photo ID such as a driver’s license or passport. Know the serial number and series (EE or I) printed on each paper bond, or visible in your TreasuryDirect account for electronic bonds.
If you’re cashing more than $1,000 in bonds at once, or mailing bonds to the Treasury, you’ll need your signature certified before redemption.4TreasuryDirect. Cashing EE or I Savings Bonds Certification means signing FS Form 1522 in front of an authorized certifying officer, typically an officer at a bank or credit union.5eCFR. 31 CFR Part 353 – Regulations Governing Definitive United States Savings Bonds, Series EE and HH – Subpart J Certifying Officers The officer stamps and signs the form to confirm your identity. Form 1522 is available on the TreasuryDirect website and asks for your Social Security number, current mailing address, and the serial number of each bond.6Department of the Treasury | Bureau of the Fiscal Service. FS Form 1522 – Special Form of Request for Payment of United States Savings and Retirement Securities
Cashing Paper Bonds at a Bank
Bringing a paper bond to a bank where you already have an account is usually the fastest route. You hand the bond and your photo ID to a teller, who verifies both. Once confirmed, the funds are typically available immediately as cash, a deposit, or a withdrawal into your account.
Not every bank cashes savings bonds, and those that do may cap how much they’ll redeem in one visit. Policies are set by the bank, so call your branch first to confirm they handle bond redemptions and ask about any dollar limits.4TreasuryDirect. Cashing EE or I Savings Bonds If the total is more than $1,000, your Form 1522 signature must be certified before the bank can process payment.
Paper bonds cannot be partially redeemed. Each bond must be cashed for its full value.4TreasuryDirect. Cashing EE or I Savings Bonds
Mailing Paper Bonds to the Treasury
If your bank doesn’t cash savings bonds, you can mail them directly to the Bureau of the Fiscal Service. Have a certifying officer at a bank or credit union stamp and sign your Form 1522 first. Do not sign the bonds themselves. Send the unsigned bonds and the certified form to:
Treasury Retail Securities Site
P.O. Box 214
Minneapolis, MN 55480-02147eCFR. 31 CFR 360.1 – Official Agencies
The Treasury currently states that bonds in your name require at least six weeks for processing due to mail volume.8TreasuryDirect. TreasuryDirect Home – Processing Times Payment is made by direct deposit to the bank account listed on your form, so double-check your routing and account numbers before mailing. There is no limit on the number or value of bonds you can redeem by mail.4TreasuryDirect. Cashing EE or I Savings Bonds
Cashing Electronic Bonds on TreasuryDirect
If your bonds sit in a TreasuryDirect account, you redeem them entirely online. Log in, go to the ManageDirect tab, and select the option to redeem securities. Choose the specific bonds you want to cash and confirm the bank account where the funds should land. The system shows the exact principal and interest before you submit and gives you a confirmation number. Funds typically arrive in your linked account within two business days.
Electronic bonds can be partially redeemed. The minimum partial redemption is $25, and amounts above that can be specified down to the penny.9eCFR. 31 CFR Part 363 Subpart C – Book-Entry Savings Bonds Purchased Through TreasuryDirect Any remaining balance stays in your account and keeps earning interest.
Converting Paper Bonds to Electronic
If you’d rather manage your bonds online and have the option of partial redemption, you can convert paper bonds to electronic form through TreasuryDirect’s SmartExchange feature. Open a free TreasuryDirect account at TreasuryDirect.gov, create a Conversion Linked Account, enter the details of your paper bonds, and mail the physical bonds in for processing. After conversion, your bonds appear in your online account with the same issue dates, interest rates, and values.
Taxes When You Cash a Savings Bond
The interest a bond earned over its lifetime is subject to federal income tax when you redeem it. Your bank or the Treasury will report the interest on IRS Form 1099-INT, which you’ll receive by January 31 of the year after redemption.10TreasuryDirect. Tax Information for EE and I Bonds You report the interest as ordinary income at your regular federal rate, which ranges from 10% to 37% for 2026.11Internal Revenue Service. IRS Releases Tax Inflation Adjustments for Tax Year 2026
Most bondholders wait until they cash the bond to report all the accumulated interest at once. You can instead report interest each year as it accrues, but if you choose that method, you must apply it to all your savings bonds going forward and cannot switch back without IRS permission.12Office of the Law Revision Counsel. 26 U.S. Code 454 – Obligations Issued at Discount
Savings bond interest is exempt from state and local income taxes.13Office of the Law Revision Counsel. 31 U.S. Code 3124 – Exemption From Taxation
One planning note before you redeem: if you use the proceeds to pay qualified higher education expenses for yourself, your spouse, or a dependent, you may be able to exclude some or all of the interest from federal tax by filing IRS Form 8815 with your return.14Internal Revenue Service. Form 8815 – Exclusion of Interest From Series EE and I U.S. Savings Bonds Issued After 1989 The exclusion has strict rules on issue date, age at purchase, ownership, and income, and it phases out at higher incomes.15Office of the Law Revision Counsel. 26 U.S. Code 135 – Income From United States Savings Bonds Used to Pay Higher Education Tuition and Fees Check whether you qualify before you cash the bond, because the exclusion applies only in the year of redemption.
If the Bondholder Has Died
The steps above assume you own the bond. If you’re trying to cash a bond that belonged to someone who died, the process depends on whether a co-owner or beneficiary is named on the bond, the total value of Treasury securities in the estate, and whether the estate is going through probate. Requests involving a deceased owner’s bonds that aren’t in your name take at least two months to process.8TreasuryDirect. TreasuryDirect Home – Processing Times TreasuryDirect publishes separate procedures for each situation, including the forms and documentation required.