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Started By
Message
Any tips/advice on cashing 30+ year old EE savings bonds?
Posted on 11/17/22 at 3:58 pm
Posted on 11/17/22 at 3:58 pm
Thanks 
4
Posted on 11/17/22 at 4:18 pm to UFownstSECsince1950
TreasuryDirect.gov
It’s fairly easy. That’s where I’d go.
You can do this at some banks, but it’s pretty simple to do it directly on the government website. I’d be prepared to know what you need to do from a tax reporting perspective though.
It’s fairly easy. That’s where I’d go.
You can do this at some banks, but it’s pretty simple to do it directly on the government website. I’d be prepared to know what you need to do from a tax reporting perspective though.
Posted on 11/17/22 at 6:43 pm to UFownstSECsince1950
If you have paper bonds, take them to a bank. The deposit process is immediate and painless.
ETA: A 1099 will be issued come tax time for reporting purposes.
ETA: A 1099 will be issued come tax time for reporting purposes.
This post was edited on 11/17/22 at 6:45 pm
Posted on 11/17/22 at 6:54 pm to UFownstSECsince1950
Just did this a month ago. Went to my bank. Took five minutes.
Posted on 11/17/22 at 7:09 pm to BottomlandBrew
quote:
Went to my bank.
Which one?
I tried at a local bank and they said no. It is a measly 50 dollar bond that is now valued at 53 dollars that was bought around 2000.
Is it strictly national banks like Capital One and Chase more apt to cashing them?
Posted on 11/17/22 at 7:17 pm to Tarps99
Any bank where you have an account should be willing to cash them. Over the years I’ve cashed them at everything from BofA to local banks and my credit union.
Posted on 11/17/22 at 7:21 pm to Tarps99
quote:
Which one?
I went to Regions. I have a checking account there.
Posted on 11/17/22 at 7:25 pm to iknowmorethanyou
quote:
ETA: A 1099 will be issued come tax time for reporting purposes.
I think some banks, at least, issue the 1099 right then and there.
Posted on 11/18/22 at 1:56 am to slackster
My bank issued the 1099 right then.
Posted on 11/18/22 at 7:20 am to BottomlandBrew
quote:
went to Regions.
They can do it.
Call the branch manager.
I went to Truist one time and the “person who can do that” was at lunch.
You got poor service.
Posted on 11/18/22 at 10:34 am to UFownstSECsince1950
I have some paper bonds to cash right now. Unfortunately my bank (Capital One) does not do it and most other banks require an account. It does sound like you can fill out FS Form 1522 and mail them to the Treasury.
Posted on 11/18/22 at 3:12 pm to The Seaward
just to throw a wrench, I have some from my deceased father's name. It that going to be an issue?
Posted on 11/18/22 at 3:41 pm to The Seaward
This can all be done electronically if I remember correctly. No need to drive to a bank. No need to mail paper bonds to the government.
Posted on 11/19/22 at 9:19 am to Tarps99
quote:
It is a measly 50 dollar bond that is now valued at 53 dollars that was bought around 2000.
Lol damn seriously????
Posted on 11/19/22 at 10:19 am to Strannix
quote:
Lol damn seriously????
Yes, but they only paid $25 for it.
Posted on 11/19/22 at 12:59 pm to CORIMA
quote:
just to throw a wrench, I have some from my deceased father's name. It that going to be an issue?
That depends. How are you claiming legal ownership? Are you named on the POD line? If you’re named on the POD line, you’ll need identification and a death certificate. When I went through the process after my father’s death, as I recall, that’s all that was required.
Posted on 11/19/22 at 1:09 pm to Jag_Warrior
Otherwise they would need to be redeemed through succession/estate I believe by the executor
Posted on 11/21/22 at 11:04 am to iknowmorethanyou
quote:
If you have paper bonds, take them to a bank. The deposit process is immediate and painless.
Anyone know if you can keep the paper bond after it has been redeemed?
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