What banks will cash in savings bonds?

Most local banks and credit unions cash paper U.S. savings bonds, especially if you're a customer, though they often have limits (e.g., $1,000 for non-members) and may require you to call ahead to confirm. You'll need your bond and valid ID, signing in front of a bank officer for verification to receive funds, often credited to your account or as a check. For electronic bonds, you redeem them directly through TreasuryDirect.gov, the official U.S. Treasury site.

Do any banks cash savings bonds?

Yes, many banks and credit unions can cash paper savings bonds, especially for established customers, but it's not guaranteed as policies vary, with some institutions refusing new customers or limiting amounts due to fraud concerns; you can also cash them by mail through the TreasuryDirect website if a bank won't, but HH bonds must be cashed by direct deposit via the Treasury. 

How much is a 30 year old $100 savings bond worth today?

A $100 savings bond's value after 30 years depends on the issue date, but for a Series EE bond from October 1994, it's worth about $164.12, having earned $114.12 in interest, as these bonds stop earning interest after 30 years. You can find the exact value using the TreasuryDirect Savings Bond Calculator by entering the bond's series, denomination, and issue date. 

Where can I cash a savings bond if I don't have a bank?

You can cash paper bonds at a bank or through the U.S. Department of the Treasury's TreasuryDirect website.

Can banks refuse to cash savings bonds?

Financial institutions now have the option to not cash savings bonds for both non-customers or new customers. Our Secret Service partners recommend that a customer be established for 12 months before cashing bonds at a financial institution.

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Where is the best place to cash in savings bonds?

TreasuryDirect.gov is the one and only place to electronically buy and redeem U.S. Savings Bonds. We also offer electronic sales and auctions of other U.S.-backed investments to the general public, financial professionals, and state and local governments.

How much is a $50.00 savings bond worth?

A $50 savings bond's worth depends on its Series (EE or I) and Issue Date, but it grows over time, often doubling in value (Series EE) or earning inflation-adjusted interest (Series I), so a 20-year-old bond is worth significantly more than its $50 face value; use the TreasuryDirect Savings Bond Calculator to get its exact current value by entering the Series and Issue Date. 

What documents are needed to cash a savings bond?

If you have a paper E/EE or I bond, you'll need to take a few additional steps. In addition to the bonds, you'll need to provide proof of identity, like a United States driver's license, and partner with a notary to notarize and certify your signature on an unsigned FS Form 1522 to your local bank or credit union.

How to avoid paying taxes when cashing in savings bonds?

You can cash U.S. Series EE or I savings bonds without paying federal income tax on the interest if you use the funds for qualified higher education expenses for yourself, your spouse, or a dependent, provided you meet income and age requirements (owner must be 24+) and file as 'Married Filing Jointly' or Single, not 'Married Filing Separately'. Alternatively, you can roll the proceeds into a 529 plan, or defer taxes until maturity, but using for education offers the best tax avoidance. 

Will Wells Fargo cash savings bonds?

Yes, Wells Fargo will typically cash paper Series EE and I savings bonds for established customers, though they may have limits for newer clients, requiring proper ID and a notary for signature certification on Form 1522, with the interest usually reported to you in January. 

Why is my $100 savings bond only worth $50?

There are two primary reasons a bond might be worth less than its listed face value. A savings bond, for example, is sold at a discount to its face value and steadily appreciates in price as the bond approaches its maturity date. Upon maturity, the bond is redeemed for the full face value.

How much is a 30 year old $1000 savings bond worth?

A $1,000 face value savings bond (like a Series EE) issued around 1994 is worth approximately $1,641 after 30 years, as it stops earning interest at 30 years and reaches its final value, but the exact amount depends on the specific issue date and interest rates of that period, requiring a TreasuryDirect Savings Bond Calculator for precise figures. 

Is there a penalty for not cashing EE bonds after 30 years?

Series EE bonds mature after 30 years, at which point they stop earning interest. There is no penalty for holding them beyond this period. When cashed, the interest earned up to maturity is taxable income reported on IRS Form 1099-INT.

Do Chase banks cash savings bonds?

Yes, JPMorgan Chase will cash paper savings bonds for their customers, but typically with limits (like $200 face value/$500 redemption value) and account requirements (e.g., an account open for a year) for older bonds, while new electronic bonds (EE/I) are best managed via a TreasuryDirect account. You must be the owner or co-owner, and you can redeem older paper bonds at banks or mail them to the Treasury, but electronic bonds are managed online. 

Does it matter whose social security number is on a savings bond?

The individual owns the U.S. Savings Bond if only their name appears on it. The Social Security Number shown on a bond is not proof of ownership. EXAMPLE: A U.S. Savings Bond title reads, “John Smith.” Only John Smith can cash that bond.

What is the best thing to do with EE savings bonds?

You can cash in (redeem) your EE bond after 12 months. However, if you cash in the bond in less than 5 years, you lose the last 3 months of interest. For example, if you cash in the bond after 18 months, you get the first 15 months of interest.

Will I get a 1099 for cashing in savings bonds?

If you cash a paper savings bond at a local bank, that bank is responsible for giving you a 1099. If you cash a paper savings bond by mailing it to Treasury Retail Securities Services, we mail you a 1099 by January 31 of the following year. (You can call us for a duplicate statement, if needed, beginning February 15.)

How to cash in deceased parents' savings bonds?

Cashing your deceased parents' savings bonds involves proving your right to them, usually as an heir or estate representative, by submitting forms like FS Form 5336 or 1522 (for individuals/non-administered estates) or FS Form 1455/1522 for court-appointed reps, along with certified death certificates and the unsigned bonds, to the Bureau of Public Debt (now TreasuryDirect) or a local bank (for E, EE, I bonds). The process differs slightly if a survivor is named, if the estate is in probate, or if you're a Voluntary Representative for a small estate.
 

Where is the best place to cash savings bonds?

Banks and credit unions can redeem savings bonds over the counter.

Will banks still cash savings bonds?

Yes, banks still cash paper U.S. savings bonds (Series EE and I), but policies vary, with many requiring you to be an established customer with an account open for some time (often a year or more) and needing proper ID, while some large banks (like Wells Fargo, Chase, Capital One) have stopped cashing them or imposed strict limits. It's essential to call your bank first to confirm they handle savings bonds and understand their specific rules, or you can redeem them electronically via TreasuryDirect or by mail. 

Do savings bonds expire?

Yes, U.S. savings bonds (Series EE and I) eventually expire, meaning they stop earning interest after their final maturity, which is 30 years from the issue date, though they are guaranteed to reach a specific value (like doubling for EE bonds) much sooner, often within 20 years. Once a bond hits its final maturity, it no longer grows and should be redeemed to avoid losing value to inflation. 

What can you do with a 30 year old savings bond?

If your savings bond from a Series other than EE, I, or HH has finished its interest-earning life, you could cash it and use the money for something else – a project, a financial need, or a new investment like an interest-earning savings bond or other Treasury security.

What is a 30 year old $100 savings bond worth today?

A $100 savings bond's value after 30 years depends on the issue date, but for a Series EE bond from October 1994, it's worth about $164.12, having earned $114.12 in interest, as these bonds stop earning interest after 30 years. You can find the exact value using the TreasuryDirect Savings Bond Calculator by entering the bond's series, denomination, and issue date. 

Are savings bonds taxable?

Yes, U.S. savings bond interest (Series EE and I) is subject to federal income tax but exempt from state and local taxes; you can defer reporting this interest until you cash the bond or it matures, but you can also exclude it from income if used for qualified higher education expenses.
 

How much is a series EE bond worth after 20 years?

A Series EE bond issued today is guaranteed to be worth at least double its purchase price after 20 years, thanks to a one-time adjustment by the Treasury if needed, and will continue earning interest for another 10 years, reaching its full 30-year maturity. The actual value depends on the interest rate at issuance and the rate for the final decade, so use the TreasuryDirect Savings Bond Calculator at to find your specific bond's value.