Changing information about EE or I savings bonds (reissuing) — TreasuryDirect (2023)

FAQs

How do I speak to someone at TreasuryDirect? ›

For help unlocking or accessing your account, please call us at 844-284-2676.

You may convert Series EE and I Savings Bonds registered in your name alone, and in your name with a co-owner or beneficiary (POD). With a few exceptions, you'll have the same flexibility with converted bonds as you have with securities bought in TreasuryDirect.

Log into your primary TreasuryDirect® account. Click the BuyDirect tab at the top of the page. On the BuyDirect page, choose the series of Savings Bonds and click "Submit". Under the heading Registration Information, choose the desired registration from the drop-down box.

Series EE savings bonds are a low-risk way to save money. They earn interest regularly for 30 years (or until you cash them if you do that before 30 years). For EE bonds you buy now, we guarantee that the bond will double in value in 20 years, even if we have to add money at 20 years to make that happen.

To file a claim for a savings bond that is lost, stolen, or destroyed, complete a Claim for Lost, Stolen, or Destroyed United States Savings Bonds (FS Form 1048). Please sign the form in the presence of an authorized certifying officer (available at a bank, trust company, or credit union).

If the person who died has an online TreasuryDirect account, contact us. We will put a hold on the account and tell you what to do.

If we hold your securities, we can ease your tax burden by withholding taxes for you during the year. Each time we pay interest, we can withhold part of the interest for taxes. The 1099 you get for that year will show what you earned and the amount we withheld for taxes.

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I Bond Cons

The initial rate is only guaranteed for the first six months of ownership. After that, the rate can fall, even to zero. One-year lockup. You can't get your money back at all the first year, so you shouldn't invest any funds you'll absolutely need anytime soon.

EE Bond and I Bond Differences

EE bonds offer a guaranteed return that doubles your investment if held for 20 years. There is no guaranteed return with I bonds. The annual maximum purchase amount for EE bonds is $10,000 per individual whereas you can purchase up to $15,000 in I bonds per year.

Does it matter whose Social Security number is on a savings bond? ›

The individual owns the U.S. Savings Bond if only his or her name appears on it. The Social Security Number shown on a bond is not proof of ownership. EXAMPLE: A U.S. Savings Bond title reads, “John Smith.” Only John Smith can cash that bond.

A TreasuryDirect Primary account is your personal account you open in TreasuryDirect. Once a Primary account is opened, you may establish Minor, Custom, and Conversion Linked accounts that are accessed only from your Primary account.

The legal representative of the estate needs to complete a Request To Reissue United States Savings Bonds (FS Form 4000). If Series HH bonds are being reissued, the legal representative must complete and sign a Direct Deposit Sign-Up Form (FS Form 5396) for direct deposit of the interest payments.

The registration for a bond you set at the time of purchase can be changed post-purchase. If you didn't set a second owner or a beneficiary when you first bought the bonds or if you change your mind at a later time, you can add, remove, or change the second owner or the beneficiary at any time.

The catch with I Bonds, which you can hold on to for up to 30 years, is this: You may not cash it out in the first year. And to get the full amount of interest owed, you have to hold the bond for at least five years. Otherwise, you will sacrifice three months of interest.

There is no penalty if you simply hold onto the bond after five years. There is value in holding onto most bonds. The longer they mature, the more interest bonds earn.

Most savings bonds stop earning interest (or reach maturity) between 20 to 30 years. It's possible to redeem a savings bond as soon as one year after it's purchased, but it's usually wise to wait at least five years so you don't lose the last three months of interest when you cash it in.

If your savings bond from a Series other than EE, I, or HH has finished its interest-earning life, you could cash it and use the money for something else – a project, a financial need, or a new investment like an interest-earning savings bond or other Treasury security.

Note: Do not buy savings bonds from someone else or in an online auction site. You cannot cash them. You can only cash bonds that you own or co-own unless you have legal evidence or other documentation that we accept to show you are entitled to cash the bond. How do I know how much my bond is worth?

Do my wife and I need separate TreasuryDirect accounts? ›

A married couple must open two separate TreasuryDirect accounts if both spouses wish to purchase I Bonds. Each account is limited to purchasing $10,000 per person per calendar year, so if you want to purchase $20,000 in a year, you need two accounts.

Don't cash the bond.

The customer must have a certified death certificate.

Once in your TreasuryDirect account, the bond will be registered in your name alone. You can then add either a secondary owner or beneficiary. Once you have a TreasuryDirect account, you can convert other paper bonds you own to electronic bonds.

You'll likely need to call the TreasuryDirect customer service at 844-284-2676 if you're locked out of your account because you entered the wrong password or security question answers too many times.

Owners can wait to pay the taxes when they cash in the bond, when the bond matures, or when they relinquish the bond to another owner. Alternatively, they may pay the taxes yearly as interest accrues. 1 Most owners choose to defer the taxes until they redeem the bond.

TreasuryDirect.gov is the one and only place to buy and redeem U.S. savings bonds and other securities directly from the U.S. Treasury! Your investments are backed by the full faith and credit of the United States government.

Series I savings bonds are conservative, safe investments that rise and fall with inflation, and they're earning far more than the best high-yield savings account or certificate of deposit. The guaranteed rate of return for an I bond is currently 6.89%.

The Treasury Department, the federal body that issues I bonds, offers two purchase methods. The main way is to go online using TreasuryDirect.gov, and the I bonds bought through this website are digital. There's also an entirely separate way to purchase paper I bonds.

NOTE: Currently, callers to (844) 284 - 2676 may experience longer than normal wait times. You may elect to submit your question or inquiry by e-mail to Treasury.Direct@fiscal.treasury.gov or you can visit our website at https://fiscal.treasury.gov/public/ for more information and resources.

Another disadvantage is I bonds can't be purchased and held in a traditional or Roth IRA. The I bonds have to be held in a taxable account. A final disadvantage of I bonds is there is an interest penalty if the bonds are redeemed in the first five years.

What are the disadvantages of Series I bonds? ›

Cons of Buying I Bonds

I bonds are meant for longer-term investors. If you don't hold on to your I bond for a full year, you will not receive any interest. You must create an account at TreasuryDirect to buy I bonds; they cannot be purchased through your custodian, online investment account, or local bank.

I bonds can be an excellent addition to a retiree's fixed income allocation. With built-in inflation protection and low-risk levels, they're a beneficial way for retirees to beat inflation without risking short-term losses like investing in the stock market.

Much as I love I Bonds, the government's inflation-adjusted savings bonds, Treasury Inflation-Protected Securities (TIPS), may be a better option today. They are providing an even better yield over inflation than I Bonds.

The composite rate for I bonds issued from November 2022 through April 2023 is 6.89%.

You may purchase up to $10,000 each of electronic EE and I Savings Bonds, per person (individual or entity), each calendar year. Purchases of any other Treasury securities do not alter the purchase limits for electronic EE and I Savings Bonds.

Interest from your bonds goes on your federal income tax return on the same line with other interest income.

There are circumstances under which a bank can refuse to issue payment for a bond, or in fact may be legally unable to do so. In these cases, the bearer may have to visit a Federal Reserve Bank Savings Bond Processing Site to redeem the bond.

You'll want to keep your number private and still get the information you need. Some banks have keypads, which allow customers to type in their own Social Security number so they don't have to speak the number out loud. If this isn't an option, ask the teller or representative for a scratch sheet of paper.

You may convert Series EE and I Savings Bonds registered in your name alone, and in your name with a co-owner or beneficiary (POD). With a few exceptions, you'll have the same flexibility with converted bonds as you have with securities bought in TreasuryDirect.

All U.S. savings bonds purchased after that year have an electronic record. The U.S. Treasury Department set up an extremely convenient database at Treasury Hunt.com, which allows you to enter in your social security number to see if any matured savings bonds are ready for you to grab.

How do I cash in old EE savings bonds? ›

You cannot cash them. You can only cash bonds that you own or co-own unless you have legal evidence or other documentation that we accept to show you are entitled to cash the bond.

We guarantee that the value of your new EE bond at 20 years will be double what you paid for it. (If you have an EE bond from before May 2005, it may be earning interest at a variable rate. See more at EE bonds.)

If a surviving co-owner or beneficiary is named on the savings bond, the bond goes directly to that person. It does not become part of the estate of the person who died. If you are the named co-owner or beneficiary who inherits the bond, you have different options for paper EE or I bonds and paper HH bonds.

EE bonds earn interest until the first of these events: You cash in the bond or it reaches 30 years old. Therefore, many of these bonds have stopped earning interest. If you moved your EE bond into a TreasuryDirect account, we pay you for the bond as soon as it reaches 30 years and stops earning interest.

I Bond Cons

The initial rate is only guaranteed for the first six months of ownership. After that, the rate can fall, even to zero. One-year lockup. You can't get your money back at all the first year, so you shouldn't invest any funds you'll absolutely need anytime soon.

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When savings bonds reach final maturity, and cease earning interest, the Bureau does not notify the bondholder. For those fully matured bonds remaining unredeemed, there is no active program by the Bureau to locate the bondholders and pay them the proceeds to which they are entitled.