Before you cash: check the value and the timing
- 12-month rule: EE and I bonds can't be cashed in their first year.
- 5-year penalty: cash before 5 years and you lose the last 3 months of interest. After 5 years there's no penalty.
- Bonds that stopped earning: after final maturity (30 years for EE and I), a bond no longer grows, so waiting gains nothing.
- Whole bonds only: you can't cash part of a paper bond. It's paid in full.
Check each bond's value and status in the calculator first.
Option 1: at your bank
Banks and credit unions can cash savings bonds, but each sets its own policy. Call the bank where you have an account and ask:
- Will you cash my savings bonds?
- How much will you cash at one time?
- What identification or other documents should I bring?
If the bank cashes your bonds, it gives you the 1099-INT for your tax return, either at the time or by the following January.
Option 2: by mail to Treasury (FS Form 1522)
- Download FS Form 1522 and fill it out.
- If the bonds you're cashing are worth more than $1,000, your signature must be certified. The form explains who can certify it.
- Mail the form and the bonds to the address on the form.
Treasury has no limit on the value or number of bonds you can cash this way. It mails your 1099-INT the following January.
Special situations
- The owner has died: see inherited savings bonds.
- Bonds lost, stolen or destroyed: see lost savings bonds.
- Acting for someone else: an attorney-in-fact can cash bonds for the owner. Treasury has instructions.
- HH bonds: banks can't cash HH bonds; they go to Treasury. Every HH bond had reached final maturity by August 2024.
- Old series (E, Savings Notes, A–K): these are cashed the same way, at a bank or by FS Form 1522.
Electronic bonds
Electronic bonds are cashed inside your TreasuryDirect account (ManageDirect, then "Redeem securities"). You can cash any amount of $25 or more, but you must leave at least $25 in the bond.
Source: TreasuryDirect, Cashing EE or I savings bonds.
Common questions
How much can I cash at a bank?
It depends on the bank. Banks set their own limits, and some don't cash savings bonds at all. Treasury itself has no limit when you cash by mail with FS Form 1522.
Do I need a signature guarantee?
When you cash by mail and the bonds are worth more than $1,000, your signature on FS Form 1522 must be certified. FS Form 1522 explains who can certify it.
Will I get a tax form?
Yes, a Form 1099-INT. A bank gives it to you when you cash the bonds or by the following January; Treasury mails it the following January.