Savings bonds do expire, but not in the way most people think

Savings bonds don't become worthless on an expiration date. Instead, they stop earning interest after a set number of years — typically 20 to 30 years depending on the type. After that point, the bond still has value and you can still cash it in, but it won't grow anymore. The bond itself doesn't disappear or become invalid; it simply stops accruing the interest that made it worth holding.

The confusion usually comes from mixing up two different dates: the final maturity date (when interest stops) and the issue date (when you bought it). A Series EE bond issued in 2004, for example, reaches final maturity in 2024 — 20 years later. After 2024, that bond still exists and you can cash it, but it won't earn another penny of interest.

Key Takeaways

  • Series EE bonds stop earning interest after 20 years; Series I bonds stop after 30 years.
  • After a bond stops earning interest, you can still cash it in at its current value — the government doesn't take it back.
  • You can find your bond's issue date and final maturity date on the bond itself or through the Treasury's online system.
  • If you hold a bond past its final maturity date without cashing it, you lose all future interest but keep the principal and interest already earned.

How long different types of savings bonds earn interest

Series EE bonds earn interest for 20 years from the issue date. After that, they stop growing. Series EE bonds are sold at half their face value — you pay $50 for a $100 bond — and the Treasury guarantees they'll at least double in value over those 20 years.

Series I bonds earn interest for 30 years. These bonds are sold at face value and earn a combination of a fixed rate (set when you buy) and a variable rate (adjusted every six months). The variable rate is what makes I bonds popular during high inflation, but that adjustment stops after 30 years.

Series HH bonds (no longer sold, but many are still held) earn interest for 20 years. Series H bonds (also no longer sold) earned interest for 10 years.

What happens when your bond reaches final maturity

When a bond stops earning interest, nothing automatic happens. You don't receive a notice from the Treasury, and the bond doesn't vanish. The bond simply sits at whatever value it has reached — principal plus all interest earned to that point. You keep it in your possession (if you hold a paper bond) or it stays in your Treasury Direct account (if you hold it electronically).

At this point, you have two choices: cash it in or leave it alone. If you cash it, you receive the full value — every dollar of principal and interest. If you leave it, it stays frozen at that value forever. It won't earn another cent, but it also won't lose value. Many people forget about bonds after they mature and never cash them in, which means they're sitting on money they could use.

Finding your bond's maturity date

If you hold a paper bond, the issue date is printed on the bond itself. To find the final maturity date, add 20 years (for Series EE) or 30 years (for Series I) to that issue date.

If you hold bonds in a Treasury Direct account, log in at treasurydirect.gov and view your account. The system shows each bond's issue date, current value, and final maturity date. You can also call the Treasury at 1-844-284-2676 if you need help locating bonds or understanding their status.

If you've lost track of paper bonds you own, the Treasury doesn't maintain a central registry of lost bonds. However, if you remember roughly when you bought them and what denomination, you can calculate the maturity date yourself using the issue date printed on the bond.

What to do with bonds after they mature

Once a bond reaches final maturity and stops earning interest, holding it longer serves no purpose. The money isn't growing, and you're not earning anything by waiting. The practical move is to cash it in and either spend the money or move it to an account where it can earn interest — a savings account, money market account, or CD.

To cash a paper bond, you can take it to most banks or credit unions. Bring the bond and a valid ID. The institution will verify the bond, confirm it's legitimate, and pay you the current value. The process usually takes a few minutes to a few days depending on the bank's procedures.

To cash a bond held in Treasury Direct, log into your account, select the bond, and request redemption. The money typically appears in your linked bank account within a few business days.

Interest stops but your money doesn't disappear

The key point many people miss: a matured bond isn't lost or forfeited. The Treasury doesn't reclaim it. Your money is still there, sitting at whatever value it reached when interest stopped. You own it completely and can access it whenever you want. The only thing that changes is that it stops growing.

This is different from, say, a gift card that expires and becomes worthless. A matured savings bond is more like a savings account that stops earning interest but keeps your balance intact. You can leave the money there indefinitely, but you're not gaining anything by doing so.

Frequently Asked Questions

Can I cash in a bond before it reaches final maturity?

Yes. You can cash in a savings bond at any time after you've held it for one year. If you cash it in before five years have passed, you lose the last three months of interest as a penalty. After five years, you get the full value with no penalty.

What if I inherited a bond that's already matured?

You can still cash it in. Bring the bond and proof of your relationship to the original owner (a death certificate, for example) to a bank or credit union. The value you receive is what the bond was worth on the maturity date — it hasn't changed since then.

Do I have to pay taxes when I cash in a matured bond?

Yes. The interest earned on savings bonds is subject to federal income tax. You report it in the year you cash the bond. State and local taxes generally don't apply to savings bond interest, but federal tax does.

Can a savings bond expire and become worthless?

No. A bond reaches final maturity and stops earning interest, but it never becomes worthless. The money is always there. You can cash it in decades after it matures if you want to.

What's the difference between a bond reaching final maturity and a bond expiring?

Final maturity is when interest stops accruing. Expiration would mean the bond becomes invalid or worthless, which doesn't happen with U.S. savings bonds. The bond itself never expires — only the interest-earning period does.