US savings bonds mature on a fixed schedule set when you buy them

Every US savings bond has a final maturity date — the point at which the bond stops earning interest and you can no longer hold it. For Series EE bonds, that date is 30 years from the issue date printed on the bond. For Series I bonds, it is also 30 years. For older Series HH bonds still held by some people, final maturity is 20 years.

The issue date is what matters, not the date you bought it. If you purchased a Series EE bond on March 15, 2024, it will reach final maturity on March 15, 2054 — exactly 30 years later. After that date, the bond no longer earns interest, and you should cash it in.

You can cash in a bond before it matures, but you will lose some or all of the interest if you cash it in during the first five years. After five years, you keep all the interest earned to that point, but the bond continues to earn more interest until it reaches final maturity.

Key Takeaways

  • Series EE and Series I bonds mature after 30 years from their issue date; Series HH bonds mature after 20 years.
  • After final maturity, the bond stops earning interest and you should cash it in, even if you have not needed the money.
  • Cashing in a bond within the first five years costs you three months of interest; after five years, you keep all interest earned.
  • The issue date on the bond certificate determines maturity, not the date you purchased it or received it as a gift.
  • You can hold a bond past its final maturity date, but it will not earn any additional interest.

How to find the issue date on your bond

The issue date is printed directly on the physical bond certificate or listed in your TreasuryDirect account if you own digital bonds. For a paper bond, look at the front of the certificate — it will say "Issue Date" followed by a month and year. That is the date you need to add 30 years to (or 20 years for HH bonds).

If you own bonds through TreasuryDirect, log into your account and view your holdings. Each bond listing shows the issue date and the maturity date side by side. TreasuryDirect calculates the maturity date for you, so you do not have to do the math yourself.

If you have inherited bonds or received them as a gift and do not know the issue date, look at the certificate itself. If it is a paper bond and the printing is faded or unclear, contact the Bureau of the Fiscal Service at 844-284-2676 or visit treasurydirect.gov. They can look up the bond by its serial number and tell you the exact maturity date.

What happens when a bond reaches final maturity

Once a bond reaches its final maturity date, it stops earning interest immediately. The interest rate drops to zero. If you leave the bond uncashed in a safe deposit box or drawer, it will not grow any further — it will sit at whatever value it had on the maturity date.

You should cash the bond as soon as it matures. There is no penalty for cashing it after maturity, but there is also no reason to wait. The longer you hold a matured bond, the longer your money is not earning interest elsewhere. You can cash it at most banks, through TreasuryDirect if it is a digital bond, or by mail through the Bureau of the Fiscal Service.

When you cash a matured bond, you will receive a 1099-INT form for tax purposes if the total interest earned was $10 or more. The interest is taxable as federal income in the year you cash the bond, even though you may have earned that interest over many years.

Early redemption and the five-year rule

You do not have to wait until a bond matures to cash it in. However, if you cash in a Series EE or Series I bond before it has been held for five years, you lose the last three months of interest. This penalty applies only to bonds cashed in before the five-year mark.

After five years, you can cash the bond at any time without losing interest. The bond will continue to earn interest until its final maturity date, but you are free to access your money whenever you need it. For example, if you cash in a Series EE bond after seven years, you receive the full value plus all interest earned through that point.

Series I bonds have an additional consideration: if you cash them in before five years, you lose the last three months of interest, just like EE bonds. But Series I bonds also have a variable interest rate that changes every six months, so the amount you earn depends on when you cash it in.

Tracking bonds you own in multiple places

If you own bonds purchased at different times or through different methods, keep a record of each one. Paper bonds and digital bonds are tracked separately. TreasuryDirect holds only digital bonds; paper bonds are your responsibility to track and cash.

Create a simple spreadsheet or list with the bond type, issue date, maturity date, and current location (safe deposit box, home safe, TreasuryDirect account). Set a reminder for six months before each bond matures so you have time to gather the bond and make a plan to cash it in. This is especially important for paper bonds, which can be easy to misplace.

If you have inherited bonds or received them as gifts, ask the person who gave them to you for the issue dates and serial numbers. If that is not possible, the Bureau of the Fiscal Service can help you locate and verify bonds if you have the serial number or the name of the original owner.

Tax implications of maturity and cashing in

Interest earned on US savings bonds is subject to federal income tax but not state or local income tax. You do not pay tax on the interest each year as it accrues — you pay tax only when you cash in the bond. This is one reason savings bonds are sometimes used for long-term savings: the tax is deferred until you need the money.

When you cash in a bond, the financial institution or TreasuryDirect will issue a 1099-INT form if the interest is $10 or more. Report this interest on your federal tax return in the year you cash the bond. If you cashed in multiple bonds in the same year, the interest from all of them is combined on one 1099-INT.

There is a tax benefit available if you used the bond proceeds to pay for may have access to education expenses in the same year you cashed it in. The interest may be excluded from your taxable income under the Education Savings Bond Program. You must meet specific requirements and file Form 8815 with your tax return to claim this benefit.

What to do if you cannot find a bond

If you own a bond but have lost the physical certificate or cannot locate it in your records, the bond still exists and is still earning interest. The Bureau of the Fiscal Service keeps records of all bonds issued. You can search for lost bonds through the Treasury Hunt tool at treasurydirect.gov.

To search for a lost bond, you will need the serial number if you have it, or the name of the original owner and the approximate issue date. The search tool will show you any bonds registered under that name. Once you locate the bond, you can request a replacement certificate or, if it is a digital bond, access it through TreasuryDirect.

If a bond has already reached final maturity and you have not cashed it in, you can still cash it at any time. There is no deadline for cashing a matured bond, but the longer you wait, the longer your money is sitting idle.

Frequently Asked Questions

Can I cash in a bond on the exact maturity date, or do I have to wait?

You can cash it in on or after the maturity date. There is no waiting period. If you want to cash it on the maturity date itself, contact your bank or TreasuryDirect a few days in advance to make sure they can process it quickly.

What if I cash in a bond one month before it matures?

If the bond has been held for more than five years, you receive the full value plus all interest earned to that point. If it has been held for fewer than five years, you lose the last three months of interest. The maturity date does not change this rule — only the five-year holding period matters.

Do I have to cash in a bond when it matures, or can I keep it?

You can keep it, but it will not earn any more interest. Once a bond reaches final maturity, the interest rate becomes zero. There is no benefit to holding it after maturity, so most people cash it in and reinvest the money elsewhere.

How do I know if a bond I inherited has already matured?

Calculate 30 years from the issue date on the certificate (or 20 years for HH bonds). If that date has already passed, the bond has matured. You can also contact the Bureau of the Fiscal Service with the serial number, and they will tell you the maturity date and current status.

Can I extend a bond past its maturity date to earn more interest?

No. Once a bond reaches final maturity, it stops earning interest permanently. You cannot extend it or renew it. Your only option is to cash it in and purchase new bonds if you want to continue saving.