Savings Bond Redemptions Frequently Asked Questions

Federal Reserve Financial Services is committed to providing the answers and information you need. Answers to many of the most frequently asked questions can be found using the links below.

If your question is not answered by the information provided on the site, the Contact page provides a comprehensive list of service and support contacts that can assist you.

1099-INT Requests

1. Who do I contact to request a 1099-INT if the bonds were redeemed by a local bank?

   If the bond is redeemed at a bank branch, the bank is responsible for issuing the 1099-INT. Please contact the bank’s 1099 department to request a duplicate 1099-INT be sent.

2. Who do I contact to request a 1099-INT if the bonds were redeemed by Treasury Retail Securities Site?

   If the bond is redeemed by the Treasury Retail Securities Site, they are responsible for issuing the 1099-INT. The 1099s are issued in the year following the redemption, please allow time for the 1099-INT to be mailed to you. If the 1099-INT was not received your, please call 1-844-284-2676 to request a duplicate.

Authentication and Eligibility

1. Are financial institutions required to cash bonds for non-customers?

   Financial institutions now have the option to not cash savings bonds for both non-customers or new customers. Our Secret Service partners recommend that a customer be established for 12 months before cashing bonds at a financial institution. Where prior guidance directed financial institutions to cash bonds in both situations, the updated guide leaves this choice up to the financial institution.

   Please direct your customers to TreasuryDirect.gov for information about how to cash their bonds. As always, you can direct any customer or non-customer with questions directly to the Treasury via email. Refer to The Guide to Cashing Savings Bonds (Off-site, PDF) for details.

2. What types of bonds are eligible for redemption by financial institutions?

   Series E, Savings Note, Series EE and Series I. Forward all other bond types (Series F, G, J, K, H, HH, Individual Retirement Bonds, or Retirement Plan Bonds) to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

3. What are valid issues dates for bonds eligible for redemption by financial institutions?
   • Series E: May 1941 - June 1980
   • Savings Notes: May 1967 - October 1970
   • Series EE: January 1980 - Present
   • Series I: September 1998 - Present

    

4. Can a financial institution verify a savings bond's validity for redemption?

   Yes, the Savings Bond Valuation and Verification (SBVV) tool (Off-site) enables paying agent institutions to quickly calculate a savings bond’s total value and verify a savings bond’s validity.

5. What if the bond issue date does not match the printed (validation) date?

   Some bonds may have legitimate variation in dates, generally when the bonds were reissued as a result of a claim or reissue transaction. If you are unsure, forward the bond to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

6. Can an individual redeem a bond if the bond has been altered or defaced in any way?

   No, do not cash the bond. Forward it to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing. Things to look for include:

   • Ensure there are no variations in font and type size
   • Check to be sure the printed area of the bond is aligned LEFT
   • Ensure there are no variations in alignment, which indicate changes
   • Check for serrated edges on newer bonds. Many older bonds do not have serrated edges

    

7. How can a customer's identity be verified?

   Refer to The Guide to Cashing Savings Bonds (Off-site, PDF) for details. Examples include:

   • The individual has identification such as a driver's license or state ID with photograph
   • The individual is an established customer of your financial institution
   • The individual is identified by another person who is an established customer of your financial institution, or is well known to an officer at your financial institution

    

8. Can I redeem a bond if the customer is named as Owner or Co-owner on the bond?

   Yes, with the proper identification (see Question 5).

   Note: If the customer’s name appears only in the "Mail to" address printed on the bond, that person is NOT a registered owner and is NOT entitled to payment.

9. Do the address and Social Security Number on the bonds have to match the customer’s address and Social Security Number?

   Not necessarily. The customer may have moved or the bonds may have been a gift and contain the purchaser’s information. Ask the customer to enter the correct address and/or Social Security Number on the back of the bonds before continuing.

Certification

1. What is involved in certifying a signature?

   A signature is certified when the customer has signed the document in your presence, you have verified their identity and the name and address on the form matches the documentation you have reviewed.

   Note: Certification does not verify the bond value or entitlement of the customer.

2. What stamps can be used to certify a customer’s signature?

   The list of acceptable stamps is included on every form (Off-site) that requires certification. Examples of acceptable seals and stamps include:

   • The financial institution’s official seal or stamp, including:
     • Signature Guaranteed seal or stamp
     • Endorsement Guaranteed seal or stamp
     • Corporate seal or stamp (a corporate resolution isn’t required)
     • Issuing or paying agent seal or stamp (including name, location and four-digit identification number or nine-digit routing number)
   • The seal or stamp of Treasury-recognized Signature Guarantee Programs or other Treasury-approved Medallion Programs.

    

Entitlement of Customer

1. Can a bond be redeemed if the owner or co-owner's name has changed?

   If it is an obvious difference, like a shortened first name, a maiden name or married name, have them re-sign, note the explanation and proceed. If it is not obvious or the explanation doesn’t satisfy you, don’t cash the bond. Forward the bond to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

2. Can an individual acting under a power of attorney cash a savings bond or note?

   No, do not cash bonds or notes presented and signed by an attorney-in-fact (an individual acting under a power of attorney). Forward the bonds to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

3. Can parents of a minor child redeem a savings bond or note in their child's name?

   Financial institutions may cash bonds or notes presented by a parent of a minor. Refer to The Guide to Cashing Savings Bonds (Off-site, PDF) for more information.

   Note: Do NOT cash bonds or notes presented and signed by a step-parent or non-custodial parent on behalf of a minor. Forward the bond to the Treasury Retail Securities Site at the Federal Reserve Bank Minneapolis for processing.

4. Can individuals redeem a bond if they did not sign the back of the bond in your presence?

   No, do not cash the bond until the customer signs or re-signs in your presence.

5. Can a bond be redeemed at the request of a customer when the two people named on the bond (as co-owners or as owner and beneficiary) are both deceased?

   Yes, you may redeem a bond to the estate of the last decedent on a bond. Retain both death certificates and a copy of the letters of appointment for the representative. Redemption requests may also be sent to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

6. Can a bond be redeemed by a beneficiary?

   Yes, a surviving beneficiary listed on a bond may redeem the bond using normal identification procedures if they present a copy of the death certificate. Redemption requests may also be sent to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis along with a completed FS Form 1522 (Off-site, PDF) Special Form of Request for Payment of United States Savings and Retirement Securities Where Use of a Detached Request Is Authorized.

Estates and Trusts

1. Can payment be made to a legal representative?

   Yes, you may redeem a bond to the estate of the last decedent on a bond. Retain both death certificates and a copy of the letters of appointment for the representative. Redemption requests may also be sent to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis. Contact the Treasury Retail Securities Site at (844) 284-2676 for assistance with required forms (Off-site).

2. How are bonds redeemed for a non-administered estate?

   Use FS Form 5336 (Off-site, PDF) Disposition of Treasury Security Belonging to A Decedent's Estate Being Settled without Administration. Forward the bond to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

   Note: If a voluntary representative wants to have bonds reissued to heirs, each must also complete a FS Form 4000 (Off-site, PDF). To redeem to heirs, each heir must complete a FS Form 1522 (Off-site, PDF).

3. How are bonds belonging to an estate or trust distributed to entitled persons?

   A Legal representative of the estate or the trustee must complete FS Form 1455 (Off-site, PDF), Request by Fiduciary for Distribution of United States Treasury Securities. Forward the form to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

Lost or Stolen Bonds

1. How should lost or stolen bonds be reported?

   Complete the FS Form 1048 (Off-site, PDF) Claim for Lost, Stolen, or Destroyed United States Savings Bonds. Send the completed form to the Treasury Retail Securities Site at the Federal Reserve Bank of Minneapolis for processing.

Forms

1. Where are forms for savings bond redemptions located?

   A list of all forms is available on the Forms: Savings Bonds (Off-site) page. Forms can be downloaded or printed.

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