How to Cash in Savings Bonds

Categories savings bonds finance investment

Cashing in savings bonds can be a straightforward process if you follow the right steps. First, you need to determine whether your bonds are eligible for redemption. Typically, you can cash in US savings bonds after they have matured, which usually takes 20 years for Series EE bonds and 30 years for Series I bonds.

Steps to Cash in Your Savings Bonds

1. Locate Your Bonds: Gather all the savings bonds you wish to redeem.
2. Check the Value: Use the TreasuryDirect Savings Bond Calculator to find out the current value of your bonds.
3. Choose Your Redemption Method: You can redeem your bonds at a bank or through the TreasuryDirect website if you hold electronic bonds.
4. Bring Required Identification: If you are going to a bank, make sure to bring a valid ID.
5. Complete the Redemption Form: Fill out the necessary forms provided by the bank or online.

Additional Tips

Be aware that cashing in your bonds may have tax implications. Interest earned on savings bonds is subject to federal income tax, so consult with a tax professional if needed.

For more information, visit the TreasuryDirect website or speak to your financial advisor.

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