This page is only about Series EE and I savings bonds. For other bonds:
Cashing in HH savings bonds
Cashing old bonds from other series
For these special situations, you want a different page.
Affected by a disaster
Death of a savings bond owner
Living estates (where a court has appointed a legal guardian for someone who owns bonds)
Trusts (where a trustee wants to cash savings bonds)
You can get your cash for an EE or I savings bond any time after you have owned it for 1 year.
However, the longer you hold the bond, the more it earns for you (for up to 30 years for an EE or I bond).
Also, if you cash in the bond in less than 5 years, you lose the last 3 months of interest.
Electronic EE or I savings bonds
| How do I know how much my bond is worth? | Go to your TreasuryDirect account. Check under Current Holdings. |
| How much can I cash at one time? | Any amount of $25 or more to the penny. If you cash only part of what a bond is worth, you must leave at least $25 in your account. If you cash only part of what a bond is worth, you get the interest only on the part you cash. |
| How do I cash my electronic bonds? | - Go to your TreasuryDirect account.
- Go to ManageDirect.
- Use the link for cashing securities.
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| When will I get a form for my tax return? | The 1099-INT that you need for your tax return will be available in your TreasuryDirect account in January of the year after you cash in the bond. See more in Tax information for EE and I savings bonds. |
Paper EE or I savings bonds
Note: Do not buy savings bonds from someone else or in an online auction site. You cannot cash them. You can only cash bonds that you own or co-own unless you have legal evidence or other documentation that we accept to show you are entitled to cash the bond.
| How do I know how much my bond is worth? | Use our Savings Bond Calculator. |
| How much can I cash at one time? | Note: You cannot cash part of a paper savings bond. A paper savings bond must be cashed for its entire value. At a bank: Banks vary in how much they will cash at one time – or if they cash savings bonds at all. With us: We have no limit on the value or number of savings bonds you can cash at one time as long as the bonds meet the requirements for cashing. |
| How do I cash my paper savings bonds? | Information for special circ*mstances: Cashing savings bonds outside the United States Cashing a young child's bond Cashing your (adult's) bonds in the United States At a bank where you have a bank account: Contact them. Ask: - Will they cash your savings bonds
- How much will they cash at one time
- What identification or other documents do you need
With us: - Get FS Form 1522.
- Fill it out.
- Get your signature certified, if necessary.
(If the value of the bond(s) you are cashing is more than $1,000, you must have your signature certified. See FS Form 1522 for more about the signature requirements.) - Send the form and the bonds to us at the address on FS Form 1522.
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| When will I get a form for my tax return? | At a bank: If a bank cashes your savings bond, they are responsible for getting you a 1099-INT. They may give or mail you the 1099-INT as soon as you cash the bond or they may wait until the following January. With us: If we cash your paper savings bond, we mail you the 1099-INT the following January. See more about tax information for EE and I savings bonds. |
| Can I authorize someone else to cash my bonds? | You can authorize an attorney-in-fact to cash your bonds. See our instructions for an attorney-in-fact. |
| What if I'm not sure if a paper EE or I savings bond has already been cashed or replaced? | If you are not sure because you got the bonds when someone died, see Death of a savings bond owner. Otherwise, check with your bank. They may be able to tell you. If they can't tell you and you are the owner or co-owner of the bond, write to us. |
FAQs
Bottom line. I bonds, with their inflation-adjusted return, safeguard the investor's purchasing power during periods of high inflation. On the other hand, EE Bonds offer predictable returns with a fixed-interest rate and a guaranteed doubling of value if held for 20 years.
Can you cash in redeem an EE or I savings bond? ›
You can get your cash for an EE or I savings bond any time after you have owned it for 1 year. However, the longer you hold the bond, the more it earns for you (for up to 30 years for an EE or I bond). Also, if you cash in the bond in less than 5 years, you lose the last 3 months of interest.
Did you cash any series EE or I saving bonds TurboTax? ›
TurboTax asks whether you cashed Series EE or I U.S. savings bonds in case you qualify for the tax exemption (see Cash Out I Bonds Tax Free For College Expenses Or 529 Plan). Answer Yes if you want TurboTax to check your eligibility.
What is the downside of Treasury I bonds? ›
Key Points. Pros: I bonds come with a high interest rate during inflationary periods, they're low-risk, and they help protect against inflation. Cons: Rates are variable, there's a lockup period and early withdrawal penalty, and there's a limit to how much you can invest.
What are the disadvantages of TreasuryDirect? ›
Securities purchased through TreasuryDirect cannot be sold in the secondary market before they mature. This lack of liquidity could be a disadvantage for investors who may need to access their investment capital before the securities' maturity.
Why would anyone buy EE bonds? ›
Series EE savings bonds are a low-risk way to save money. They earn interest regularly for 30 years (or until you cash them if you do that before 30 years). For EE bonds you buy now, we guarantee that the bond will double in value in 20 years, even if we have to add money at 20 years to make that happen.
Do you pay taxes when you cash in EE bonds? ›
I cashed some Series E, Series EE, and Series I savings bonds. How do I report the interest? In general, you must report the interest in income in the taxable year in which you redeemed the bonds to the extent you did not include the interest in income in a prior taxable year.
How long does it take to get money from TreasuryDirect? ›
You just bought a security from the U.S. Treasury. Securities are generally issued to your account within two business days of the purchase date for savings bonds or within one week of the auction date for Bills, Notes, Bonds, FRNs, and TIPS.
Do any banks still cash savings bonds? ›
Where do I cash in a savings bond? You can cash paper bonds at a bank or through the U.S. Department of the Treasury's TreasuryDirect website. Not all banks offer the service, and many only provide it if you are an account holder, according to a NerdWallet analysis of the 20 largest U.S. banks.
Will I get a 1099 from TreasuryDirect? ›
If you invest in TreasuryDirect, your 1099 will be available electronically and you can print the form from your account. 1099 forms are available by January 31 of each tax year.
You can report the interest each year you earn it or when you cash the bond. You will report it on Schedule B of your 1040. You can avoid these taxes by using the money for qualified higher education expenses.
Do I qualify to exclude series EE or I bond interest? ›
To qualify for the exclusion, the bonds must be series EE or I U.S. savings bonds issued after 1989 in your name, or, if you are married, they may be issued in your name and your spouse's name. Also, you must have been age 24 or older before the bonds were issued.
Can you loss money on I bonds? ›
You can cash in (redeem) your I bond after 12 months. However, if you cash in the bond in less than 5 years, you lose the last 3 months of interest.
Is there a better investment than I bonds? ›
Dividend stocks can offer you a payout and the potential for appreciation over time, making them a more attractive long-term investment than Series I bonds. However, they come with more volatility and without a government guarantee that you'll get your principal back.
Can I lose my principal on I bonds? ›
inflation rate can vary. You can count on a Series I bond to hold its value; that is, the bond's redemption value will not decline.
Do EE bonds really double in 20 years? ›
EE bonds you buy now have a fixed interest rate that you know when you buy the bond. That rate remains the same for at least the first 20 years. It may change after that for the last 10 of its 30 years. We guarantee that the value of your new EE bond at 20 years will be double what you paid for it.
Are I bonds worth it in 2024? ›
The current composite rate of 4.28% is only earned for the first 6 months of your I Bond. Your July 2024 I Bonds purchase will turn your $100 into $102.14 just 6 months later. This is a 4.28% annualized rate.
Can I convert an EE bond to an I bond? ›
Therefore, when you cash in your series EE bonds, you can simply use the proceeds to purchase I Bonds, he said. When you cash in your EE bonds, you will pay federal but not state income taxes on the interest portion of the redemption, he said.
