What documents do I need to cash a savings bond?

To cash a savings bond, you generally need the original paper bond, a government-issued photo ID, your Social Security Number, and to complete FS Form 1522, getting your signature notarized if the bond's value exceeds $1,000; always call your bank first, as requirements vary, especially for mailed redemptions.

What information is needed to cash a savings bond?

To cash a U.S. savings bond, you generally need the physical bond, a valid government-issued photo ID, and often your Social Security Number, but the process varies: cash it at your bank (if they offer it and you're an account holder), or mail it to the Treasury using FS Form 1522 with signature certification for redemptions over $1,000. For electronic bonds, redeem directly through your TreasuryDirect account. 

Can I cash in a savings bond at any bank?

You can cash paper savings bonds (Series E, EE, I) at most banks or credit unions, but typically only if you're an existing account holder, often for at least six months or a year, and with proper ID; electronic bonds must go through TreasuryDirect, and Series HH bonds are cashed directly by the Treasury. Policies vary, so always call your bank first to check their rules on cashing bonds for non-customers or for limits on amounts. 

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. 

What form do I need to redeem a paper savings bond?

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.

What Documents Do I Need To Cash A Savings Bond? - AssetsandOpportunity.org

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 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 is the best time to cash out a savings bond?

Most savings bonds stop earning interest (or reach maturity) between 20 to 30 years. It's possible to redeem a savings bond as soon as one year after it's purchased, but it's usually wise to wait at least five years so you don't lose the last three months of interest when you cash it in.

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.

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. 

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.

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.

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. 

Can I go to any bank to cash a savings bond?

You can cash paper savings bonds at many banks, but not necessarily at any bank, as many require you to be an established customer (sometimes for a year or more) or may not offer the service at all; for electronic bonds, you redeem them through your TreasuryDirect account. Always call your bank first to confirm their policy, required documents (like ID), and any limits, or you can mail them directly to the Treasury for redemption. 

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. 

Can someone else cash my bond?

Requirements for Cashing in Savings Bonds

Remember that savings bonds can't be sold, traded or given away. The person whose name is on the bond is the only person who can cash it in (with some exception, which we'll get to shortly).

What are the rules for cashing in 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.

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. 

What happens to savings bonds that are never cashed?

For those fully matured bonds remaining unredeemed, there is no active program by the Bureau to locate the bondholders and pay them the proceeds to which they are entitled. Traditionally, it has been up to the registered owner to remember to redeem the matured bond decades after the initial purchase.

How to cash a savings bond over $1000?

(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.

Is it worth it to cash in savings bonds?

When to cash in savings bonds: Series EE Savings Bonds should ideally be cashed in after 20 years, when they are guaranteed to double in value, or by 30 years, when they stop accruing interest.

How long does it take for a $50 EE savings bond to mature?

All Series EE Bonds reach final maturity 30 years from issue. All Series EE bonds reach final maturity 30 years from issue. Series EE savings bonds purchased from May 1995 through April 1997 increase in value every six months. The interest rate is compounded semiannually.

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. 

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.

What do I 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.