How to Claim E Bonds
The United States Treasury issued Series E bonds from May 1941 through June 1980. Series EE bonds replaced Series E savings bonds. Series E Savings Bonds have face values of $25.00, $50.00, $75.00, $100, $200, $500, $1,000, $5,000 and $10,000.
Series E bonds initially sold for 75 percent of face value. For example, a $100 bond initially cost $75. Series E bonds pay interest at the time of redemption. Most Series E bonds have stopped earning interest.
4 Steps to Claim Series E Bonds
1. Determine the value of your bond or bonds.
Use the savings bond calculator at treasurydirect.gov or another calculator such as the downloadable savings bond wizard. Both of these calculators provide values for individual bonds as well as total value for more than one bond.
2. Find a location to redeem your bonds.
Most banks will redeem Series E bonds. For transactions involving a large number of bonds or total redemption values of more than $1,000 you may need an appointment. If you cannot locate a bank to redeem your bonds, locate your Treasury Retail Securities Site phone number on treasurydirect.gov and call for assistance.
3. Verify ownership and be sure to bring photo identification with you to your redeeming institution.
You must be an owner or co-owner to redeem bonds. Parents can redeem bonds for their minor children.
4. Retain documentation for tax purposes.
The redeeming institution will provide you with a breakdown of the proceeds you receive. This will include the amount of principle returned to you as well as the interest.
Income tax is due on the interest earned in the year the interest is received. Redeeming bonds in two or more years spreads out the tax impact. Note that most Series E bonds have stopped earning additional interest.
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