A savings bond that has reached final maturity, or is within one month of reaching it, may not be reissued. It may be cashed. Series EE and Series I bonds mature 30 years after their issue date. Series HH bonds reach maturity 20 years after issue.

What can I do with my Series E savings bonds?

If you have Series E, EE or I bonds, another option is to use the Smart Exchange at TreasuryDirect to convert your paper savings bonds to electronic bonds, which will make them much easier to monitor and redeem (you can link your TreasuryDirect account to a bank account). For more information, see Converting Paper Savings Bonds to Electronic Form.

Can a savings bond be used for a grandchild?

Under the Education Savings Bond Program, you can exclude bond interest from your income if you use bond proceeds to pay qualified education expenses for yourself, your spouse or a dependent. If your grandchild is not a dependent that you list on your tax return, you won’t meet the standard. Several other restrictions apply, too.

Can a survivor of a savings bond be reissued?

If you are the survivor, you can convert your bond using SmartExchange. After it’s converted, the bond will be registered in your name alone. Series HH: These bonds are still reissued in paper form.

How many people are named on a savings bond?

Only one person is named on the bond and that person dies The bond is part of that person’s estate Two people are named on the bond and both have died The bond is part of the estate of the person who died last.

When to report interest on inherited savings bonds?

If that person uses the cash method and does not choose to report the interest each year, he or she can postpone reporting it until the year the bonds are cashed or disposed of or the year they mature, whichever is earlier.