How to Cash Paper EE Bonds at a Bank or by Mail

To cash paper EE bonds, take them to a bank or credit union where you already hold an account, or mail them to the Treasury with FS Form 1522. Either route requires the original certificates, a government-issued photo ID, and your Social Security number. A bank visit usually takes minutes; the mail route takes at least six weeks. Before you hand anything over, look up what the bonds are actually worth today and whether waiting a little longer would pay you more.

Check the Value and Timing Before You Cash

The Treasury runs a free savings bond calculator at TreasuryDirect.gov. Enter the series, denomination, and issue date printed on each certificate and it returns the current redemption value, including accrued interest.1TreasuryDirect. Savings Bond Calculator – Detailed Instructions

Three dates decide whether you should cash now or hold:

Paper EE bonds were last sold in 2012, so every paper bond in circulation today is well past the minimum holding period.5eCFR. 31 CFR 353.35 – Payment (Redemption)

What to Bring

Whichever route you use, gather three things:

Mailing bonds in also requires a completed FS Form 1522, downloadable from TreasuryDirect.gov. The form collects the bond series, serial numbers, issue dates, and direct deposit information.8TreasuryDirect. FS Form 1522 – Special Form of Request for Payment of United States Savings and Retirement Securities

Cashing at a Bank or Credit Union

The fastest route is a bank or credit union where you already have an account. Call ahead. Banks vary widely in how they handle savings bond redemptions, and not every branch does it.9TreasuryDirect. Cashing EE or I Savings Bonds Ask three questions:

  • Do you cash paper savings bonds?
  • What dollar limit applies per visit? Some branches cap single-day redemptions at a few thousand dollars, which matters if you are cashing a stack.
  • What identification do you need to see?

At the counter, the teller verifies your identity, looks up the current redemption value of each bond, and then asks you to sign the back of each certificate. Funds usually post to your account immediately. There is no fee. The regulation is explicit: the paying agent makes payment “at the current redemption value without charge to the presenter.”10eCFR. 31 CFR Part 353 – Regulations Governing Definitive United States Savings Bonds, Series EE and HH – Section 353.39

If You Are Not a Bank Customer

Banks are not required to redeem bonds for non-customers, and many will not. Federal Reserve guidance to financial institutions recommends a customer relationship of at least 12 months before a bank processes a bond redemption, largely as a fraud-prevention measure.11Federal Reserve Financial Services. Savings Bond Redemptions Frequently Asked Questions If no local bank will help, the mail route is your fallback.

Cashing by Mail Through the Treasury

You can mail paper bonds directly to Treasury Retail Securities Services in Minneapolis. The steps:

  • Fill in FS Form 1522 with the bond details, your Social Security number, and your bank routing and account numbers for direct deposit. Leave the signature line blank until you are in front of the right person.8TreasuryDirect. FS Form 1522 – Special Form of Request for Payment of United States Savings and Retirement Securities
  • Handle the signature step based on total value. If the combined redemption value of the bonds you are mailing is $1,000 or less, sign the form and enclose a copy of your photo ID. If the value exceeds $1,000, sign in the presence of a notary or a certifying officer at a bank or credit union, who then stamps or seals the form.9TreasuryDirect. Cashing EE or I Savings Bonds
  • Mail the unsigned bonds, the completed and (if required) certified FS Form 1522, and any ID copies to Treasury Retail Securities Services, P.O. Box 9150, Minneapolis, MN 55480-9150. Use a trackable service; these are irreplaceable financial documents.12TreasuryDirect. Who to Contact for Savings Bond Inquiries

Processing takes at least six weeks for bonds in your own name and at least two months when bonds are not in your name. Heavy mail volume can push those timelines further. Payment arrives by direct deposit if you provided account information, or by paper check if you did not.

Acceptable Signature Certifications

For the over-$1,000 threshold, the Treasury accepts a notary public’s seal, a bank’s signature guarantee stamp, the paying agent stamp of an institution authorized to cash savings bonds, or a medallion signature guarantee from programs like STAMP or SEMP.13TreasuryDirect. Signature Certification Outside the United States, a U.S. diplomatic or consular official can certify your signature.

Special Situations

Bonds Registered to a Minor

An older child who understands the transaction can sign for the bond themselves. A bank that accepts and certifies the minor’s signature is effectively confirming that competency. For a younger child, a parent with custody, or who lives with the child, can cash the bond by writing a statement on the back certifying the relationship, custody status, and age, then signing “on behalf of [child’s name], a minor.”14TreasuryDirect. Cashing Paper Bonds for a Young Child If no bank will process it, mail the bond with FS Form 1522 and the same information to Treasury Retail Securities Services.

Bonds After the Owner Dies

If the bond names a surviving co-owner or beneficiary, that person can generally cash it at a bank by presenting a certified copy of the death certificate along with their own ID. When the sole owner dies with no co-owner or beneficiary, the bonds become part of the estate. For small estates being settled without court administration, a spouse, blood relative, or legally adopted child who is at least 18 can act as “voluntary representative” by completing FS Form 5336 and mailing it with a certified death certificate and the unsigned bonds.15TreasuryDirect. Non-Administered Estates Each bond must go whole to one person; you cannot split a single bond among heirs.

Lost, Stolen, or Destroyed Bonds

If a bond is missing or damaged, file FS Form 1048, which asks for serial numbers, issue dates, the Social Security number on the bonds, and the registered owner’s name and address.16TreasuryDirect. Get Help for Lost, Stolen, or Destroyed EE or I Savings Bond You can request either payment or an electronic replacement held in a TreasuryDirect account. Once the Treasury issues payment or a replacement, the original certificate legally belongs to the government; if you later find it, mail it in.

Cashing With a Power of Attorney

An attorney-in-fact can cash bonds for an incapacitated owner by submitting FS Form 1522 with a certified copy of the power of attorney. The document must have been signed within the past two years or contain a durability clause, and the certification must carry a legible stamp or seal.17TreasuryDirect. Power of Attorney – United States Savings Bonds and Notes The Treasury also accepts its own FS Form 5188 in place of a general power of attorney. All signing happens in the presence of a certifying officer at a bank, trust company, or credit union.

Converting to Electronic Instead of Cashing

If you do not need the money yet but want to stop worrying about paper, you can convert your bonds to electronic form in a TreasuryDirect account. The bonds keep their original issue dates and interest rates. Open a Conversion Linked Account, prepare the manifest through the online instructions, and mail the unsigned certificates to the Treasury.18TreasuryDirect. Converting EE or I Paper Bonds to Electronic Bonds This is worth considering for bonds that are still earning interest.

Taxes on the Interest

Interest from Series EE bonds is subject to federal income tax but exempt from state and local income taxes.19TreasuryDirect. Tax Information for EE and I Bonds Most owners defer reporting until they cash the bond or it reaches final maturity, whichever comes first. Annual reporting is an option, but once chosen it must apply consistently to all your savings bonds.

Whoever pays you issues the 1099-INT: the bank if you cashed at a counter, the Treasury if you mailed. The form shows the full interest earned over the bond’s life, not one year’s share, and arrives by January 31 of the year after redemption. You report that interest for the tax year you cashed. If total interest income for the year exceeds $1,500, complete Schedule B as well.20Internal Revenue Service. Savings Bonds 1

One trap: if someone else already paid tax on part of the interest before you became the owner, most often through inheritance, you should not pay tax on that portion again. Note the adjustment on your return and attach a statement explaining it.

Using the proceeds for qualified higher education expenses in the same year may let you exclude some or all of the interest from federal tax under 26 USC 135, but the rules are strict: the bond must have been issued after 1989, the owner must have been at least 24 at purchase, married filing separately does not qualify, and the benefit phases out at higher incomes.21Office of the Law Revision Counsel. 26 USC 135 – Income From United States Savings Bonds Used to Pay Higher Education Tuition and Fees Check the current IRS Form 8815 instructions for the year you file.