Series HH Savings Bonds FAQs

We no longer offer Series HH savings bonds, but some we issued in the past haven't matured and are still paying interest.

How do I sign up for direct deposit or change the direct deposit information on an HH account?
How much are my interest payments?
What if I don't get my interest or redemption payment?
Do I have to pay taxes on my interest earnings?
How do I get information about my account?
How long can I hold my HH bonds and still earn interest?
When do I earn interest on my HH bonds?
Is there any tax liability when I cash HH bonds?
What should I do if my paper savings bond has been lost, stolen, or destroyed?
How do I cash my HH bonds?
Does the value of an HH bond increase over time?

How do I sign up for direct deposit or change the direct deposit information on an HH account?

Fill out "Direct Deposit Sign-Up Form" (FS Form 5396) (download or order).

Many financial institutions offer their own direct deposit sign-up form or the SF 1199A. We'll accept those forms, or your written request if you provide the following: the name of the financial institution, type of account, the nine-digit bank routing number, and your account number.

How much are my interest payments?

HH bond single owners and co-owners can learn about their accounts by speaking with a customer service representative at 844-284-2676 (toll free). Representatives are available from 8 a.m. to 6 p.m. Eastern Time, Monday through Friday, except holidays.

What if I don't get my interest or redemption payment?

Contact your bank. It should track the payment to determine its status.

If the bank cannot locate your payment, take these steps:

  1. Make sure a payment was due. Interest is due on HH bonds every six months. A bond dated in the month of January has interest due each July 1 and January 1, for example.
  2. Once you've established a payment was due and is missing, notify our office in writing, providing the date and amount, if known, of the payment. Provide the name and Social Security Number on the account or bonds involved. The notice must be signed by the owner, co-owner, or authorized representative.

Mail to:

Treasury Retail Securities Services
P.O. Box 2186
Minneapolis, MN 55480-2186

Do I have to pay taxes on my interest earnings?

Yes, you must report your interest payments on HH bonds as interest income on your federal income tax return each year. This interest isn't subject to state or local income taxes. The U.S. Treasury issues an interest income statement (IRS Form 1099-INT) by January 31 of each year showing the interest you earned the previous year.

Also, you may owe taxes on deferred interest.  Below, see “Is there any tax liability when I cash HH bonds?”

How do I get information about my account?

You may speak to a customer service representative at 844-284-2676 (toll free). Representatives are available from 8 a.m. to 6 p.m. Eastern Time, Monday through Friday, except holidays.

How long can I hold my HH bonds and still earn interest?

HH bonds were issued January 1980 through August 2004 and earn interest for 20 years

When do I earn interest on my HH bonds?

HH bonds earn interest every six months, starting six months from the issue date shown on the bonds. Interest is reportable income for the year you earn it.

Is there any tax liability when I cash HH bonds?

Possibly.

Certain HH bonds weren't available for cash only. To buy these HH bonds, the buyer had to trade in another security he or she had bought earlier. In making the exchange, the buyer used interest earned by the original security to help pay for the HH bond.

Concerning taxes on the original bond's interest, the buyer had a choice: pay then or pay later. In cases where the buyer chose to wait, interest on the original security is known as deferred interest. The amount is shown on the front of the HH bond and is identified as deferred interest.

If you owe tax on deferred interest, you can wait to pay until you cash the bond or the bond matures, whichever comes first. After you cash the bond or it matures, we send you an IRS Form 1099-INT showing the deferred interest and we report the amount to the IRS.

Deferred interest is part of the face value of the HH bond, not an amount we pay you in addition to the face value.

What should I do if my paper savings bond has been lost, stolen, or destroyed?

Fill out form FS Form 1048 (download or order) and mail it to the address provided on the form.

To search the record of your security, we need the bond serial number. If you don't have that number, then send your Social Security Number, the specific month and year of purchase, and any names on the bond, including middle names or initials.

Send the information to:

Treasury Retail Securities Services
P.O. Box 2186
Minneapolis, MN 55480-2186

How do I cash my HH bonds?

Complete FS Form 1522 (download or order). You may need to have your signature certified (see instructions on the form). Send the form and your bonds to:

Treasury Retail Securities Services
P.O. Box 2186
Minneapolis, MN 55480-2186

(Note: Before Series HH savings bonds, we issued Series H savings bonds. All H bonds have matured.)

Does the value of an HH bond increase over time?

No. The bond always is worth its face value. You make money by receiving interest every six months.