- Don’t do anything. Until the bond matures, it will continue to receive interest. Our office will hold semi-annual interest payments and pay them when the bond is cashed.
- Reissue: Have the bond reissued in the name of the survivor. A coowner or beneficiary may be added to the bond by the new owner.
- Along with FS Form 5396, submit a certified copy of the owner’s death certificate (download or order). Although the bond will not be physically reissued, you will continue to receive semi-annual interest payments. (A death certificate or other legal evidence will not be returned.)
Cash (Redeem) a paper bond with a named survivor
Series EE and I: Take your savings bonds to a financial institution that accepts them and provide proper identification as well as any supporting documentation that may be necessary. It’s a good idea to phone the banking institution ahead of time to find out what kind of identification and documents you’ll need.
Your local bank is not permitted to cash Series HH bonds, but they can assist you in submitting your transaction.
HH Savings Bonds (Cashing Series)
Reissuing a paper bond with a survivor named on it
Paper reissues of Series EE and Series I bonds are no longer available. Instead, TreasuryDirect converts the bonds to electronic bonds. If you are the survivor, you can use SmartExchange to convert your bond.
Series HH: Paper reissues of these bonds are still available. Reissuing or Replacing Series HH Savings Bonds has instructions.
When someone dies, what happens to their savings bond?
When a savings bond has only one owner, the bond becomes part of the estate when the owner passes away. If the bond is not specifically left to someone in the will, it goes through the will’s residuary clause, or under state law if there is no valid will.
How do I get money out of savings bonds that aren’t in my name?
If you are not identified as the owner or co-owner on the bond, you must produce legal evidence or other documentation to establish you are entitled to cash the bond, regardless of where you cash it. (Legal evidence is not returned.)
It is important to note that savings bonds cannot be transferred. You can’t cash a bond that belongs to someone else or that you bought on an internet auction site. (See Death of a Savings Bond Owner if you inherit a bond through the death of the bond owner.)
Is it possible to cash in my parents’ savings bonds?
If you are now the owner of the savings bonds or if your parent listed you as the survivor beneficiary on the bonds, take them to a bank or other financial institution. In the presence of a bank official, fill out the redemption form on the back of the bonds and sign it. A driver’s license or other form of identification is required. You must also provide proof of death if you are mentioned as a survivor. This is usually done by a verified copy of the death certificate. The bank will redeem the bonds and pay you the proceeds.
To cash a savings bond, what documentation do I need?
If you want to redeem a paper E/EE or I bond, you’ll need a few items. You’ll also need confirmation of identity, such as a driver’s license from the United States. You’ll also need an FS Form 1522 that hasn’t been signed. They’ll see you sign the document and then certify your signature if you go to your local bank or credit union.
The unsigned bonds, along with the signed FS Form 1522 and, if you’re the bond’s beneficiary, accompanying legal evidence or other papers to indicate you’re entitled to cash the bond, should be sent to the US Department of Treasury at:
The same steps apply for series H or HH paper bonds, only you’ll ship the unsigned bonds to the US Treasury at:
Can a savings bond be cashed by a beneficiary?
There is only one owner listed. Only that person is allowed to conduct business. The bond becomes part of his or her inheritance if he or she dies.
This is referred to as exclusive ownership in the case of electronic bonds.
Single ownership for paper bonds.
Transactions can only be made by the owner.
If he or she passes away, the beneficiary becomes the sole owner of the property.
An entity cannot be the beneficiary.
Although each owner may cash without the other’s knowledge or agreement, most other transactions require both owners’ signatures.
Is it possible to transfer a savings bond to someone else?
Yes. The owner of EE and I Bonds can transfer them to another person with a TreasuryDirect account; however, you must wait five business days from the purchase date to do so.
A savings bond can be transferred to another TreasuryDirect account in whole or in part. To learn how to move savings bonds from one TreasuryDirect account to another, see How can I transfer savings bonds from one TreasuryDirect account to another TreasuryDirect account?
What happens if I transfer savings bonds to another TreasuryDirect customer? Will the recipient’s purchasing limit be affected?
When you transfer savings bonds to another customer, the value of the transfer is deducted from the yearly purchase limit for each savings bond type for the year in which the transfer happens.
Is it possible to move marketable securities from one TreasuryDirect account to another or to a broker/dealer account?
Yes. Marketable Securities can be transferred in $100 increments. You can send a portion or the entire value of a single investment or a group of securities to a single recipient or financial institution. How can I get marketable securities out of my TreasuryDirect account? is a good place to start.
No. To sell marketable securities in your TreasuryDirect account, you must move them to a broker/dealer account, where the broker/dealer will sell them for you.
Is it possible to transfer marketable securities from a non-TreasuryDirect account to my TreasuryDirect account?
Yes. You can contact your broker to have marketable securities from another account transferred as an Incoming External Transfer to your TreasuryDirect account. Customer Service will handle your request and add issued securities to your Current Holdings. For maturity and interest payments, incoming transfers are issued with your primary bank information as the payment destination (if applicable). For specific instructions, see Learn More About Transfers.
Is it possible to transfer marketable securities from my old TreasuryDirect account to my new TreasuryDirect account?
Yes. Complete a Security Transfer Request, FS Form 5179, to transfer holdings from Legacy Treasury Direct to your TreasuryDirect account. Incoming transfers are released into your TreasuryDirect account’s Current Holdings.
What happens if I transfer a marketable security that was initially slated for deposit in my C of I before it matures?
Any purchases you have scheduled utilizing Zero-Percent C of I as the source of funds may be impacted if you elect to transfer a marketable security prior to maturity. If funds are inadequate to cover the purchase request, the purchases may be canceled.
What if the form of registration for transferring marketable securities from an outside broker to my TreasuryDirect account is invalid?
We shall refuse any inbound security transfer request that has an invalid form of registration.
What if the marketable security I want to move in from another outside account is registered with the words “OR,” “AND,” or “With Right of Survivorship”?
Regardless of the method of registration prior to the transfer, a security transferred from an outside account into a TreasuryDirect account will be transferred in the name of the individual account owner in single owner form. The registration can be changed to any allowable registration after the transfer is accomplished.
Can a POA be used to purchase savings bonds?
Is it possible for someone working under a power of attorney to cash a savings bond or a note? Cashing bonds or notes offered and signed by an attorney-in-fact is not a good idea (an individual acting under a power of attorney).
What is the procedure for changing the owner of my savings bonds?
The name of a single owner or two co-owners will be printed on a US savings bond. The savings bond can only be cashed by a listed owner. To change the owner of a savings bond, a reissue request must be made to the US Treasury together with the bond.