How to Sell Government Series EE Bonds
Series EE Savings bonds are low risk investments popular with many people. Bonds purchased after May 1, 2005 earn a fixed rate of interest. Bonds purchased earlier have a variable rate. The bonds can be held until their maturity, or sold early. Bonds typically are given as gifts and are used for retirement income or college tuition. You must be an American citizen with a social security number to own savings bonds.
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Things You'll Need
- EE Savings bonds
- An electronic Treasury account or a financial institution
- Picture Identification
- Social Security Card
Instructions
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Selling EE Bonds Electronically
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Log onto your online Treasury account, where you purchased the electronic EE bond. When you signed up for the account and purchased the bond, you were also asked to provide banking information.
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Click the link to redeem a bond. Bonds can be redeemed without a penalty once five years has passed from the date of issue. EE bonds may also be redeemed just 12 months after issue, with a penalty equal to three months of interest. There also may be redemption fees.
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Once the bond is sold, you will be asked where you want the funds deposited. You should have a bank account set up; it was required when you signed in. The funds will be electronically deposited in that bank. Log out, you are done.
Selling Paper EE Bonds
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Gather the paper bonds you want to sell. Many people keep paper bonds in a safe deposit box at a bank or at home in a fire safe.
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You can redeem a paper bond at any financial institution, although some banks require you use their main branch. Contact the bank to determine where you should go. You will need your bond, a picture identification and your social security card.
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The bond can be sold without penalty, if it older than five years. You will lose the most recent three months interest, if the bond is not mature. There may be a fee for redemption.
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References
- Photo Credit savings bonds image by Stephen VanHorn from Fotolia.com
