How To Cash in a United States Savings Bond Series EE
United States Savings Bond Series EE are purchased for one-half the face value and slated to mature 30 years from the issue date. You can cash a bond in sooner, though. If you do, you'll receive the interest that has accumulated plus one-half the face value. And any bank, even one that you do not regularly use or have an account with, can cash your bond. Of course, to receive the full face value, you must keep the bond for its entire term.
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Instructions
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Determine when your bond can be cashed. Series EE bonds issued on January 1, 2003, or earlier can be cashed in six months from the issue date. Series EE bonds issued February 1, 2003, or after can be cashed one year after the issue date. The date of issuance is posted on the face of the bond. Note that if you cash a bond within five years of its issue date, you will have to forfeit some interest.
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Go to the bank. If you go to a bank other than where your personal accounts are held, the bank may place some restrictions on cashing in your bond. For instance, it may cash only up to $1,000. Take your bond to a teller and present a photo identification---such as a driver's license, state ID, passport, or military ID---along with the bond. You will sign the back of the bond and the teller will stamp it, certifying your signature.
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Choose the method of redemption. If you are cashing more than $1,000 or prefer to mail the bond to the Federal Reserve for cashing, send your signed bond and a letter stating where you want the proceeds mailed or deposited to the Federal Reserve branch for your location. Otherwise, cash the bond immediately at the bank. The bank teller can give you cash or deposit the money into your bank account.
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Tips & Warnings
For more information about cashing in a bond, call 1-800-245-2804. Choose option #3, then option #2.
West Coast residents should use the Federal Reserve branch in Minnesota: Federal Reserve Bank, Minneapolis Branch, P.O. Box 214, Minneapolis, MN 55480.
East Coast Residents should use the branch in Pennsylvania: Federal Reserve Bank, P.O. Box 299, Pittsburgh, PA 15230.
