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Redeeming (Cashing in) I Bonds

When can I redeem my I Bonds?

After they are 12 months old.

  • If you redeem an I Bond before it is five years old, you will lose the last three months of interest.
  • I Bonds continue to earn interest for up to 30 years.
  • If you've been affected by a disaster, special provisions may apply.

What are my I Bonds worth?

Use the Savings Bond Calculator.

Note: Savings bonds cannot be transferred. If you find a bond that belongs to someone else or buy a bond on an online auction site, you cannot redeem it. (If you inherit a bond through the death of the bond owner, see Death of a Savings Bond Owner.)

How do I redeem my I Bonds?

Electronic bonds

Log in to TreasuryDirect and use the link for redeeming securities in ManageDirect.

Paper bonds

You can cash paper I Bonds at most local financial institutions. We don't keep a list of banks that redeem bonds, so check with banks in your area.

More information for special situations:

Redeeming Bonds Outside the United States

Redeeming a Young Child's Bond

How do I authorize an attorney-in-fact to redeem my bonds?

For instructions, please see publication PD P 0105, "Power of Attorney: United States Savings Bonds & Notes."

How much can I redeem at one time?

Electronic bonds in your TreasuryDirect account

No limit.  However, each redemption must be in a minimum amount of $25 redemption value, with additional one-cent increments above that amount, in any one transaction.  Redemptions will be comprised of principal and proportionate interest.

What will I need to redeem a paper bond?

Before taking the bonds to a financial institution, it's always a good idea to check with the institution to find out if that institution will redeem your bonds and if so, what identification and other documents you'll need.

When you present your paper bonds worth $1,000 (current redemption value) or less, you'll be asked for identification. You can establish your identity by

  • being a customer with an active account open for at least 6 months at the financial institution that will be paying the bonds, or
  • presenting identification such as a driver's license and any additional identification document the financial institution requires.

When you present your paper bonds totaling more than $1,000 (current redemption value), you'll be asked for identification. You can establish your identity by:

  • being a customer with an active account open for at least 6 months at the financial institution that will be paying the bonds

If you are not listed as the owner or co-owner on the bond, you'll have to show that you are entitled to cash in the bond.

Will I get a form for my taxes?

Yes. IRS Form 1099-INT is provided for redeemed bonds. The form may be available when you redeem your bond or after the end of the tax year.

Electronic bonds

Log in to TreasuryDirect and go to ManageDirect. Form 1099-INT is one of the links on the ManageDirect page.

Paper bonds

The financial institution where you redeemed the bond will mail the form to the address on record for the bond owner.

Tax Considerations for I Bonds

What if I'm not sure whether an I Bond has already been redeemed or replaced?

If you are the owner or co-owner of the bonds, send a signed request to the address below. Be sure to include the serial numbers of the bonds you are asking about.

If the owner or both co-owners have died, you must provide proof such as a copy of the death certificate(s), with your letter.

Send your letter to:

Bureau of the Fiscal Service
P.O. Box 7012
Parkersburg, WV 26106-7012