U.S. Savings Bond Redemption Information
Cashing in, or redeeming a U.S. savings bond, usually takes nothing more than a visit to the bank. However, the U.S. Treasury does enforce some rules on savings bond redemption.
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The Basics on Redeeming Savings Bonds
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Most banks and savings and loans redeem savings bonds. A person simply signs the back of the bond and provides identification. Bonds may be redeemed 12 months from the date they were issued, but three months interest is lost if the bonds are cashed before they're five years old. Treasury rules limit redemptions to $1,000 worth of bonds at a time. If the bond owner holds their bonds online through Treasury Direct, they should log in and follow the instructions to redeem their bonds.
Redeeming more than $1,000 in Bonds
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A bond owner may redeem more than $1,000 in bonds by signing the back of the bonds in front of a certifying officer at their local bank, providing their Social Security number and mailing the bonds to the Treasury Retail Securities site that services the area in which the bond owner lives. These sites can be located online (see Resources).
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Disaster Areas
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If disaster strikes the area where a bond owner lives, early redemptions may be authorized by the U.S. Treasury.
Other Circumstances
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If a person named as a bond beneficiary may cash it by providing her identification to the bank and presenting the original owner's death certificate. Parents may redeem their children's bonds.
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References
Resources
- Photo Credit savings bonds image by Stephen VanHorn from Fotolia.com
