How Do I Redeem My Series HH Bonds?

The face value of an HH bond is equal to its face value. If the bond says $500, it was purchased for $500 and now has a value of $500.

You cannot cash a savings bond that you find in someone else’s possession or that you purchase on an internet auction site. Savings bonds are not transferable, sellable, or tradeable.

See “Death of a Savings Bond Owner” if you inherit a bond through the death of the bond owner.

How long does it take for HH bonds to pay out?

Every six months, you earn money by receiving interest. (Note: We used to issue Series H savings bonds before we started issuing Series HH savings bonds.) All H bonds have reached maturity.)

What is the procedure for redeeming HH bonds?

FS Form 1522 must be completed and signed (download or order). It’s possible that your signature will need to be certified (see instructions on the form).

Treasury Retail Securities Services, P.O. Box 2186, Minneapolis, MN 55480-2186, with the bonds, FS Form 1522, and any supporting documentation (if needed).

You must submit legal evidence or other documentation to indicate you are entitled to cash the bond if you are not identified as the owner or co-owner on the bond. (Legal evidence is not returned.)

Individual savings bonds cannot be split; they must be distributed in their entirety.

What is the purpose of Series HH savings bonds?

Every six months, HH bonds pay interest. The bond’s value remains unchanged. When you bought the bond, you paid face value, and when you cash it, we pay you face value.

• To obtain service, dial toll-free 844-284-2676 and speak with a customer service professional. Representatives are available Monday through Friday, 8 a.m. to 6 p.m. Eastern Time, excluding holidays.

What happens when HH bonds reach their maturity date?

The bond’s face value was reimbursed to the investor upon maturity. Interest income from Series HH savings bonds must be recorded in the tax year in which it is received, but it is exempt from state and local taxes.

What is the average time it takes to repay bonds?

In about 30 years, most savings bonds stop earning interest (or achieve maturity). A savings bond can be redeemed as soon as one year after purchase, but it’s normally best to wait at least five years so you don’t miss out on the last three months of interest. If you redeem a bond after 24 months, for example, you will only receive 21 months of interest. It’s usually better to wait until your bond reaches full maturity, depending on the interest rate and your individual financial demands.

On HH savings bonds, where is the serial number?

If you have any queries regarding any of the fields displayed by the Calculator, here are brief descriptions of the fields.

• Bond Serial Number–Your paper savings bond’s serial number can be located in the lower right corner. This information is optional, however it is necessary for record-keeping purposes in the event that your paper bonds are lost or destroyed.
• When you initially use the Savings Bond Calculator, it displays the current value of your paper bonds. You can alter the ‘Value as of’ date to see what they’re worth in various months. From January 1996 through the current rate period, the Calculator can show you how much your paper bonds are worth.
• The series of your paper savings bond can be located in the upper right corner. This calculator calculates values for the following series of paper savings bonds: EE, I, and E.
• Denomination–The face value of your paper bond, as seen in the upper left corner.
• The date your paper bond was issued is known as the issue date. It’s the month and year printed underneath the series on the right side of your paper bond.
• Total Price–The total amount you spent for this inventory’s paper bonds.
• Total Interest–The total amount of payable interest accumulated by the paper bonds in this inventory from the date listed in the ‘Value as of’ box to the date listed in the ‘Value as of’ box.
• Total Value–As of the date in the ‘Value as of’ box, the total cash value of the paper bonds included in this inventory. If you cashed all of these paper bonds in that month, you’d get this.
• Year-to-Date Interest (YTD Interest) is the term used to describe the interest that has accrued since the beginning of the year. From January of the year mentioned in the ‘Value as of’box to the date given, the total amount of interest accumulated by the paper bonds in this inventory.
• Interest–The amount of interest that has accrued on each paper bond from the Issue Date to the ‘Value as of’ date.

Note: If you cash a bond issued after May 1997 and it’s less than five years old, you’ll be charged a three-month interest penalty. This penalty is included in the interest indicated here.

• Value–The current market value of each paper bond as of the date specified in the ‘Value as of’ section.
• Interest Rate–The rate of interest that each bond is earning at the time the ‘Value as of’ field is entered. This rate is used to compute the interest due on the Next Accrual Date.
• Next Accrual–The first time a bond’s value increases after the date stated in the ‘Value as of’ box.
• The current interest rate on a bond is not available.
• That is to say,

a) The bond’s interest has stopped accruing;

b) Until the next rate period, when fresh interest rates are released, we won’t know what rate the bond earns during the ‘Value as of’ date.

• You modified the ‘Value as of’ date to a date before the paper bond was issued, resulting in NI. Not Issued.
• Bonds bearing the notation NE (Not Eligible for Payment) cannot be cashed until they are at least 12 months old.
• P5–Bonds issued after May 1997 and older than five years have a three-month interest penalty.
• MA. Matured–This paper bond has reached the end of its life cycle and is no longer earning interest. (For September 2004 and later, use “Value as of” dates.)

Is it possible to exchange EE bonds for HH bonds?

Owners of Series EE and E bonds will no longer be able to swap them for HH bonds after the close of business on August 31, and owners of matured HH/H bonds will no longer be able to reinvest their holdings in HH bonds.

What is the procedure for sending an HH bond?

If you’ve mailed your papers but haven’t received a response, double-check with your financial institution to ensure there isn’t a mistake on their end. You should also double-check that the account numbers you entered on the form were right. Make sure you’ve given the payment enough time to go through the approval procedure.

If you believe the payment is missing, you may write to the Treasury Department to inquire about it. P.O. Box 2186, Minneapolis, MN 55480-2186, Treasury Retail Securities Site Include the bond’s and bank account’s names, as well as the Social Security numbers associated with both, the date any missed interest payments were due, and the amount of the payment due.

When I cash in my savings bonds, will I receive a 1099?

On January of the following year, 1099-INTs are posted in TreasuryDirect. Use the ManageDirect page’s URL.

If you cash at a bank, the paperwork is provided. The bank may give you the form right away or mail it to you later, maybe after the year in which you cash the bond has ended.

If you cash with Treasury Retail Securities Services, the form will be mailed to you in January of the following year.