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Paper savings bonds: If your bank cashes paper savings bonds, you can bring yours to a branch to redeem them. You can also cash in paper bonds by sending them to Treasury Retail Securities ...
Here’s how to cash in each type of bond. Cashing in Paper Savings Bonds. If you have a paper savings bond, you can take it to your local financial institution and exchange it for cash — if ...
Safety: U.S. savings bonds are issued directly by the Treasury and backed by the U.S. government. Taxes: Only federal income tax applies to savings bonds, not state or local taxes (unless your ...
You can cash in savings bonds at your local bank or through the U.S. Department of the Treasury. Here are two ways to cash them: Paper Bonds: Present the bond and an acceptable form of ...
That year, the Department of the Treasury's Bureau of the Public Debt made savings bonds available for purchasing and redeeming online. U.S. savings bonds are now only sold in electronic form at a Department of the Treasury website, [4] TreasuryDirect. As of 2023, redeeming paper savings bonds is very difficult, as most banks decline to do so.
However, the switch to electronic bonds did not significantly impact overall bond sales, as reported by the Government Accountability Office in 2015: "the decline in savings bond purchases after Treasury discontinued the sale of paper savings bonds in January 2012 was consistent with the overall long-term decline in savings bond purchases". [1 ...