Do you need a death certificate to cash a savings bond?
Asked by: scraper | Last update: August 10, 2026Score: 0/5 (0 votes)
Yes, you generally need a certified copy of the death certificate to cash a savings bond if the original owner or co-owner has passed away. However, the exact paperwork depends on how the bond is registered.
How do I cash a savings bond if someone is deceased?
Get a certified copy of the death certificate for everyone who has died who is named on any of the bonds. Have each person who is entitled to a distributed bond also fill out and sign the appropriate forms: If they want cash for their bond: FS Form 1522. If it is an EE or I bond and they want to keep it: FS Form 4000.
What documentation is needed to cash a savings bond?
If you have a paper E/EE or I bond, you'll need to take a few additional steps. In addition to the bonds, you'll need to provide proof of identity, like a United States driver's license, and partner with a notary to notarize and certify your signature on an unsigned FS Form 1522 to your local bank or credit union.
How does a beneficiary cash a savings bond?
The process for cashing inherited savings bonds depends on how the bonds are registered. The steps range from a simple over-the-counter redemption at a local bank to mailing documents directly to the U.S. Treasury.
How to redeem a bond for someone who passed away?
To cash savings bonds of a deceased person, the process depends on whether you are a named beneficiary/co-owner, or if the bonds are part of a general estate. If a survivor is named, the bond belongs to them directly. Otherwise, the executor or legal representative must use FS Form 5336 for unadministered estates or FS Form 1522 for administered estates, typically mailing them to the Treasury with a death certificate.
Changing the Name on Bonds after the Death of the Owner
Can someone else cash my savings bond?
Generally, no; U.S. savings bonds are registered to a specific person and cannot be cashed by others, except for co-owners, beneficiaries, parents of minor children, or legal representatives like an attorney-in-fact. Only the named owner, or someone with legal authority, can redeem them.
Why is my $100 savings bond only worth $50?
There are two primary reasons a bond might be worth less than its listed face value. A savings bond, for example, is sold at a discount to its face value and steadily appreciates in price as the bond approaches its maturity date. Upon maturity, the bond is redeemed for the full face value.
How much would a $50 savings bond from 1993 be worth?
A $50 Series EE savings bond from 1993 is typically worth between $150 and $175 today. Because Series EE bonds stop earning interest after 30 years, a 1993 bond reached its final maturity in 2023 and is no longer growing in value.
How long does it take for a $50.00 savings bond to mature?
A $50 Series EE or I savings bond reaches final maturity in 30 years, after which it stops earning interest. However, if you hold a Series EE bond, it is guaranteed by the U.S. Treasury to double in value after 20 years.
Does it matter whose social security number is on a savings bond?
A Social Security Number must be provided. If this is a gift bond purchase, use the owner's name and SSN, if available. If the owner's SSN is not available, use the purchaser's SSN. Use of the purchaser's SSN does not confer rights to the bond or require interest reporting.
Do you have to pay taxes on savings bonds when cashed?
Yes, you only pay taxes on the interest earned, not the original principal you invested.
Can you cash a savings bond at a bank without an account?
While you do not strictly need a bank account to cash a paper savings bond, it is highly recommended because most banks require you to be an established customer (usually with an account for at least six months to a year) to redeem them. If you do not have an account, your options are limited to mailing the bonds to the U.S. Treasury.
What happens to bonds when a person dies?
A survivor is named on the bond(s)
If you are the named co-owner or beneficiary who inherits the bond, you have different options for paper EE or I bonds and paper HH bonds. If only one person is named on the bond and that person has died, the bond belongs to that person's estate.
Who inherits a savings account after death?
In many cases, the transfer process is relatively simple if the account has a joint owner or a payable-on-death (POD) beneficiary. If there is no joint owner or beneficiary, however, the account typically becomes part of the deceased person's estate and must go through probate before refunds can be distributed.
Who pays tax on savings bonds after death?
The beneficiary (the person who inherits the savings bonds) generally pays federal income tax on the accumulated interest when they redeem (cash out) the bonds. The tax is due on all interest earned from the date of purchase, not just from the date of the original owner's death, at ordinary income tax rates.
How much is a $100 savings bond from 1994 worth today?
A $100 Series EE savings bond purchased in 1994 is typically worth between $150 and $184 today, depending on the exact month it was issued. Because 1994 bonds have reached their 30-year final maturity, they have stopped earning interest and should be cashed in.
Is it worth keeping EE bonds after 20 years?
After 5 years: Bonds reach full value, and you avoid penalties. At 20 years: Series EE bonds are guaranteed to double in value. At 30 years: The bonds stop earning interest and should be cashed in to avoid missing out on returns from other investment opportunities.
What can you do with a 30 year old savings bond?
If your savings bond from a Series other than EE, I, or HH has finished its interest-earning life, you could cash it and use the money for something else – a project, a financial need, or a new investment like an interest-earning savings bond or other Treasury security.
How much are $100 EE bonds worth after 30 years?
A $100 Series EE bond from 1994 is worth approximately $164 after 30 years, guaranteed to double after 20 years, with interest accumulating until maturity. Avoid early redemption penalties by waiting five years; otherwise you forfeit the last three months of interest.
Can I gift someone a savings bond?
You can gift a savings bond to adults or children. A child under 18 can have a TreasuryDirect account if the child's parent or other adult custodian has a TreasuryDirect account and sets up a linked account for the child. In TreasuryDirect, you can give anyone either EE or I savings bonds.
Where can I cash a $50 savings bond?
Interest payment structure: Savings bonds pay interest only when they're redeemed by the owner, and they earn interest for as long as 30 years. Redemption process: Electronic bonds can be cashed on the TreasuryDirect website, while paper bonds can be redeemed at most bank or credit union branches.
How do I redeem a savings bond for a deceased person?
To redeem a savings bond for a deceased person, the process depends on the bond's registration and the total value of the estate. The quickest path requires identifying whether you are the named beneficiary or if the bond must go through the deceased's estate.
What happens to savings bonds that are never cashed?
Uncashed savings bonds that reach final maturity (usually 30 years) stop earning interest and become "Matured Unredeemed Debt" (MUD), remaining in the U.S. Treasury, where roughly $26 billion sits unclaimed. While they never expire, they lose value over time due to inflation and can be transferred to state unclaimed property offices.
Can a bank refuse to cash a savings bond?
Indeed, the federal government requires that banks cash savings bonds for an established account holder, generally with an account at least a year old, who has proper identification and “who seems worthy of your trust,” according to a 2022 Treasury guide for financial institutions.