Ask Terry Questions Series EE Bonds from years ago, just found

Series EE Bonds from years ago, just found

By Terry Savage on March 19, 2023 | Chicken Money

My deceased father left behind a stack of Series EE Savings Bonds that we just found. My name is listed on the bonds as co-owner. They date back to the 1980’s. I know bonds reach face value after 20 years, almost double after 30 years, then stop earning interest. But I heard there is a penalty if these are not cashed in right after 30 years. Is there a time limit or term for cashing them in?

Terry Says

Read this article at

It is perfectly understandable that you would not have known about the bonds, and there is no time limit for cashing them in. But remember, you will owe all the taxes for the year in which you cash them. That could put you in a higher tax bracket. And if you are on Medicare, it could result in an increased monthly premium!

First use the link above to get the current value. It will be more than double, since EE bonds had variable interest payments. You might choose to cash half in this year, and half next year. YOu’ll need a death certificate, and will have to send the paper bonds in to the Treasury, unsigned, along with form 1522. Instructions are in the article above.



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