1. Read what's printed on the bond
You need three things from each bond. All of them are printed on its face:
- Series: usually EE, I or E. Savings Notes say "Savings Note" or "Freedom Share". Older letters (A, B, C, D, F, G, H, J, K) and HH bonds also exist.
- Face value: the denomination, such as $50, $100 or $1,000. EE bonds were sold for half this amount, E bonds for 75% of it.
- Issue date: the month and year the bond was issued. On most paper bonds it's near the upper right.
Also note whose names are on it (owner, co-owner or beneficiary). That decides who can cash it.
2. Check what each bond is worth
Enter each bond in the calculator and add it to your list. You'll get the value of every bond, a total, and a rough federal tax estimate. You can also look up values by series and year.
3. Spot the bonds that stopped earning
Savings bonds don't earn interest forever. Series EE and I bonds earn for 30 years. Every Series E bond and every Savings Note has stopped earning. So has every bond from series A, B, C, D, F, G, H, J, K and HH. A bond that has stopped earning keeps its value but never grows again, so there's no reason to hold it. See which bonds have matured.
4. Make sure you can cash them
- You can cash a bond if you are the owner or co-owner named on it.
- If the owner has died, the rules depend on whether someone else is named on the bond. See inherited savings bonds.
- Don't buy savings bonds from someone else or from an online auction. Treasury says you cannot cash bonds that aren't yours.
5. Cash them at a bank or through Treasury
Many banks cash savings bonds for their own customers, but policies and limits vary, so call first. You can also mail paper EE and I bonds to Treasury with FS Form 1522. See how to cash savings bonds.
6. Plan for the tax
The interest is subject to federal income tax, but not state or local income tax. You'll get a Form 1099-INT. If a bond stopped earning years ago, its interest was taxable for the year it matured. See savings bond taxes.
Not sure if a bond was already cashed?
If you're the owner or co-owner, Treasury asks you to ask your bank first. If the bank can't tell you, write a signed letter that lists the serial numbers (don't send the bonds) to: Treasury Retail Securities Services, P.O. Box 9150, Minneapolis, MN 55480-9150. Source: TreasuryDirect.
Common questions
Are old savings bonds still worth money?
Yes. A bond that has stopped earning interest keeps the value it reached at final maturity, and you can still cash it.
Do I have to cash a matured bond?
No law makes you cash it, but it earns nothing more. Its interest was also taxable for the year it reached final maturity.
Can I cash a bond with someone else's name on it?
Only if you are named on it as owner or co-owner, or you have legal documents Treasury accepts, for example as a named beneficiary or as the estate's representative.