Series E & EE bonds conversion to Series I bonds
I have some Series E & EE bonds that will mature shortly, is it possible to convert to I bonds either before or after they mature? I appreciate in advance your prompt response.
Terry Says
No, there is no direct conversion. Go to www.TreasuryDirect.gov That link will take you directly to Savings Bonds. There you can find the value and specific maturity date of your current bonds. The E bonds have likely matured — but none of the EE bonds have reached full maturity, and you don’t want to cash them in early because they have high base rates.
When you cash them in, you will pay ordinary income taxes in the year they are redeemed. But no state income taxes. Then you can buy Series I bonds — but only $10,000 per year.
In fact, you might want to “convert” your old paper bonds to an electronic account right now — before they mature. Then the check in payment will be directly deposited to your bank account. It’s all at the website I linked above.
