How to Cash Savings Bonds: Paper Bonds, Electronic Bonds and the Rules
Figures checked November 12, 2026 against primary sources
You can cash a Series EE or I savings bond once you have owned it for 1 year. Paper bonds are cashed at a bank that agrees to do it, or by mail to the Treasury with FS Form 1522. Electronic bonds are cashed in your TreasuryDirect account. Cash a bond before it is 5 years old and you lose the last 3 months of interest. Every rule on this page is from TreasuryDirect, the Treasury's own savings bond site.
The Short Answer
| Your bond | Where to cash it | How much at once |
|---|---|---|
| Paper EE or I bond | A bank where you have an account (ask first), or mail FS Form 1522 and the bonds to the Treasury | The whole bond. You cannot cash part of a paper bond. |
| Electronic EE or I bond | Your TreasuryDirect account: ManageDirect, then Redeem securities | Any amount of $25 or more. Leave at least $25 if you cash part. |
| Old paper bond from another series (E, H and others) | Same as paper EE or I bonds | The whole bond |
Two rules apply to every EE and I bond: no cashing in the first year, and a 3-month interest penalty if you cash before 5 years.
When You Can Cash a Savings Bond
- After 1 year. TreasuryDirect: you can cash an EE or I bond "any time after you have owned it for 1 year."
- Before 5 years, you pay a penalty. If you cash the bond in less than 5 years, you lose the last 3 months of interest.
- After 5 years, no penalty. EE and I bonds keep earning interest for up to 30 years, so holding longer means more interest.
- At 30 years, they stop earning. Electronic bonds are paid out automatically when they stop earning: the Treasury puts the money into the Certificate of Indebtedness in your TreasuryDirect account. Paper bonds you must cash yourself.
For I bonds in particular (the current rate, how the rate resets, the yearly limit) see our I bonds guide.
How to Cash Paper Savings Bonds
You have two routes: a bank, or the Treasury by mail.
Option 1: At your bank
Use a bank where you have an account. Not every bank cashes savings bonds. TreasuryDirect says banks vary in how much they will cash at one time, "or if they cash savings bonds at all." Call before you go and ask three things:
- Will you cash my savings bonds?
- How much will you cash at one time?
- What identification or other documents do I need?
Option 2: By mail to the Treasury
- Get FS Form 1522 from TreasuryDirect and fill it out.
- Get your signature certified if the bonds are worth more than $1,000. The form explains who can certify it.
- Send the form and the bonds to the address printed on FS Form 1522.
The Treasury has no limit on the value or number of bonds you can cash at one time, as long as the bonds meet its cashing requirements.
One rule for both routes: a paper bond must be cashed for its entire value. If you want only part of the money, cash some bonds and keep others.
Someone else can do it for you. You can authorize an attorney-in-fact to cash your bonds. TreasuryDirect has a separate page for cashing a young child's bond.
How to Cash Electronic Savings Bonds
- Log in to your TreasuryDirect account.
- Go to ManageDirect.
- Under Manage My Securities, click Redeem securities.
You can cash any amount of $25 or more, to the penny. If you cash only part of a bond, you must leave at least $25 in your account, and you get only the interest on the part you cash.
What Is My Bond Worth?
- Paper bonds: use the Treasury's Savings Bond Calculator. It prices paper Series EE, E and I bonds and Savings Notes. Enter the series, denomination and issue date; the serial number is optional.
- Electronic bonds: log in to TreasuryDirect and check Current Holdings. The calculator does not value electronic bonds.
We do not list bond values here. Every bond's value depends on its series, issue date and rate, so the Treasury's calculator is the only reliable number.
Not sure a paper bond is still uncashed? Ask your bank first. If it cannot tell you and you are the owner or co-owner, TreasuryDirect says to write to Treasury Retail Securities Services with the serial numbers, signed, and not to send the bonds themselves (the address is on its cashing page). To look for bonds you may have forgotten, use Treasury Hunt.
Old Bonds That Stopped Earning Interest
Bonds from Series A, B, C, D, E, F, G, H, J and K, and all Savings Notes, no longer earn interest. EE and I bonds earn for 30 years from the issue date, and HH bonds for 20 years. If you find an old paper bond that has passed those limits, it no longer earns interest. The steps are the same as for paper EE and I bonds: your bank, or FS Form 1522 by mail, with your signature certified if the form requires it.
Tax note for matured bonds. For paper EE and I bonds, TreasuryDirect says the 1099-INT comes "when someone cashes the bond or the bond matures." For an HH bond with deferred interest, you get a tax form "either after you cash the bond or after it matures, whichever comes first."
Taxes When You Cash
- Federal income tax: yes. State and local income tax: no.
- When it is taxed. Most people defer the interest and report it for the year they cash the bond or the year it matures, whichever comes first. You can instead report the interest every year.
- Your 1099-INT. If a bank cashes a paper bond, the bank gives you the 1099-INT, either when you cash it or the following January. If the Treasury cashes a paper bond, it mails the 1099-INT the following January. For electronic bonds, the 1099-INT is in your TreasuryDirect account in January of the year after you cash.
- Education. Using the money for higher education may let you skip federal income tax on the interest. The rules are strict; our I bonds guide covers the Form 8815 conditions.
Cashing many years of deferred interest at once adds it all to one year's income. See the 2026 tax brackets to see where that income lands.
Special Cases: Inherited Bonds, Someone Else's Bonds
- The owner died. If a surviving co-owner or beneficiary is named on a paper bond, the bond goes straight to that person, not to the estate. If only one person is named and that person died, the bond is part of the estate. For an electronic account, contact TreasuryDirect; it puts a hold on the account and tells you what to do. The steps differ by case: see TreasuryDirect's Death of a savings bond owner page.
- Bonds bought from someone else. Do not buy savings bonds from another person or an online auction site. TreasuryDirect says plainly: "You cannot cash them." You can cash only bonds you own or co-own, unless you have legal documents the Treasury accepts.
Sources & Methodology
- TreasuryDirect: Cash EE or I savings bonds (timing, penalty, bank and mail routes, FS Form 1522, signature rule, electronic redemption, 1099-INT timing) and Cashing old bonds from other series.
- TreasuryDirect: Tax information for EE and I bonds, Death of a savings bond owner and the Savings Bond Calculator.
Method notes. All rules were re-read from the TreasuryDirect pages above on November 12, 2026. We do not show bond values or copy mailing addresses; use the calculator and the form, which the Treasury keeps current.
This article is for general information and is not financial or tax advice. Wealthy Pot is not affiliated with the U.S. Treasury or TreasuryDirect. Rules were checked against TreasuryDirect on 2026-11-12. Confirm the current steps on TreasuryDirect and with your bank before you cash.
FAQ
Can I cash savings bonds at any bank?
No. Banks vary in how much they will cash and whether they cash savings bonds at all. Ask a bank where you have an account. If it will not, mail the bonds to the Treasury with FS Form 1522.
How soon can I cash a savings bond?
After you have owned it for 1 year. Before 5 years, you lose the last 3 months of interest.
Do I need a signature guarantee?
If you mail paper bonds worth more than $1,000 to the Treasury, your signature on FS Form 1522 must be certified. The form says who can do it.
Can I cash part of a savings bond?
Only an electronic one: any amount of $25 or more, leaving at least $25. A paper bond must be cashed for its full value.
Do I pay tax when I cash a savings bond?
Federal income tax on the interest, yes, for the year you cash it or the year it matured, whichever came first, unless you reported it in earlier years or qualify for the education exclusion. No state or local income tax.
Can I cash a savings bond I bought online from a stranger?
No. TreasuryDirect says bonds bought from someone else or on an auction site cannot be cashed.
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"How to Cash Savings Bonds: Paper Bonds, Electronic Bonds and the Rules." Wealthy Pot, 2026. https://wealthypot.com/how-to-cash-savings-bonds/
