Chase does not cash EE bonds directly, but you can deposit the proceeds into your Chase account once you've cashed them elsewhere

Chase Bank will not redeem Series EE savings bonds for you. The U.S. Department of the Treasury, which issued your bonds, is the only entity that can cash them. You'll need to go through an authorized financial institution or the Treasury itself to convert the bond into cash, then deposit that money into your Chase account if you want it there.

This is a hard limit, not a policy that varies by branch or account type. No Chase location will cash an EE bond, and calling ahead won't change that. The process requires going through the Treasury's system, which has specific rules about who can redeem bonds and how.

Key Takeaways

  • Chase Bank cannot redeem EE bonds; only the Treasury and certain authorized financial institutions can cash them.
  • You can redeem EE bonds through TreasuryDirect (the online Treasury portal), by mail to the Bureau of the Fiscal Service, or at some banks and credit unions that participate in the Treasury's redemption program.
  • Once you receive the cash from redemption, you can deposit it into your Chase account like any other deposit.
  • The redemption process takes different amounts of time depending on your method: TreasuryDirect is fastest, mail takes several weeks, and bank redemptions vary by institution.

Where you can actually cash EE bonds

TreasuryDirect is the fastest option if you own the bonds electronically. Log into your TreasuryDirect account at treasurydirect.gov, select the bond you want to redeem, and request the redemption. The money goes directly to your linked bank account within one to two business days. This works only if your EE bonds are already registered in TreasuryDirect, which is the case for most bonds issued after 2002.

If your bonds are paper certificates, you have two main routes. You can mail them to the Bureau of the Fiscal Service along with a completed form (Form PD 1522), which takes three to four weeks for processing and payment. Or you can take them to a bank or credit union that participates in the Treasury's Savings Bond Redemption Program. Not every bank does this—you'll need to call ahead and ask whether they redeem savings bonds. Some credit unions are more likely to offer this service than larger national banks.

The Treasury's website has a list of participating financial institutions, though it's not always current. Calling your local bank first saves a trip.

What happens after you redeem the bond

Once you have the cash in hand—whether from TreasuryDirect, a bank redemption, or a check from the Bureau of the Fiscal Service—you can deposit it into your Chase account the same way you'd deposit any other money. You can use a Chase ATM, mobile deposit, or visit a branch.

The redemption itself is separate from your Chase account. Chase doesn't hold the bond, doesn't track its value, and doesn't participate in the redemption process. Your Chase account is just the destination for the money once the Treasury has paid you.

Tax reporting for redeemed EE bonds

When you redeem an EE bond, you owe federal income tax on the interest it earned. The amount of interest depends on how long you held the bond and the rate it was issued at. You don't pay tax on the principal (the amount you originally paid for the bond), only on the earnings.

The Treasury will send you a Form 1099-INT if the interest exceeds $10. Keep records of the bond's issue date and redemption date, and the amount redeemed. Your tax preparer or the IRS website can help you calculate the taxable interest if you don't receive a 1099-INT.

Early redemption penalties and waiting periods

EE bonds have a one-year holding requirement before you can redeem them at all. If you try to cash a bond less than one year after purchase, the Treasury will refuse the redemption.

If you redeem an EE bond before it has been held for five years, you lose the last three months of interest. For example, if you redeem a bond after three years and six months, you receive interest only through the three-year mark. This penalty applies regardless of where you redeem the bond—TreasuryDirect, a bank, or the Bureau of the Fiscal Service will all enforce it.

After five years, you can redeem without losing interest, though you still owe income tax on the earnings.

Checking whether your bonds are in TreasuryDirect or paper form

If you're not sure whether your EE bonds are electronic or paper, start by logging into TreasuryDirect. If you can see them listed there, they're electronic and you can redeem them online. If you don't have a TreasuryDirect account or can't find the bonds there, they're likely paper certificates.

Paper bonds usually come with a certificate number and issue date printed on them. If you've lost the certificate but remember buying the bond, you can contact the Bureau of the Fiscal Service to search for it using your Social Security number and the approximate purchase date. This process takes several weeks.

What to do if you've lost a paper EE bond

A lost paper bond doesn't mean the money is gone. The Bureau of the Fiscal Service can search for it and issue a replacement or process a redemption if you provide proof of ownership. You'll need to file a claim with documentation of the original purchase—a receipt, bank statement showing the purchase, or a letter from the person who gave it to you.

This process is slower than a standard redemption and may require notarization. Contact the Bureau of the Fiscal Service directly at savingsbonds.gov or call 844-284-2676 to start a search for a lost bond.

Frequently Asked Questions

Can I cash an EE bond at any Chase branch?

No. No Chase branch cashes EE bonds. You must redeem through TreasuryDirect, a participating bank or credit union, or the Bureau of the Fiscal Service. Once you have the cash, you can deposit it at Chase.

How long does it take to get money from a redeemed EE bond?

TreasuryDirect deposits to your bank account in one to two business days. Bank or credit union redemptions vary—some process same-day, others take a few days. Mail redemptions to the Bureau of the Fiscal Service take three to four weeks.

Will I owe taxes when I redeem an EE bond?

You owe federal income tax on the interest the bond earned, not on the original amount you paid. The Treasury sends a Form 1099-INT if interest exceeds $10. You report this on your tax return for the year you redeem the bond.

What if I redeem my EE bond before five years?

You lose the last three months of interest. For example, redeeming after three years means you get interest only through the three-year mark. You still owe tax on whatever interest you do receive.

Can I redeem someone else's EE bond?

Only the registered owner or a legal representative (like a power of attorney or executor) can redeem a bond. If you're the beneficiary but not the owner, you cannot redeem it until the owner passes away and you have the proper legal documentation.