Bond owners can cash electronic Series EE savings bonds by logging on to the U.S. Department of the Treasury's TreasuryDirect website. Owners can redeem paper Series EE bonds by taking them to a local bank or mailing them to the Federal Reserve Bank of Minneapolis, notes TreasuryDirect.
Series EE savings bonds earn interest for up to 30 years, according to TreasuryDirect. They are redeemable one year after they are purchased, but if they are redeemed less than five years after purchase, the owners forfeit the last three months of interest. As of 2015, owners can redeem $25 or more of an electronic bond at a time, but if they do not redeem the bond's total value, they must leave a minimum of $25 in the account. Once the transaction at TreasuryDirect is complete, the funds are transferred directly to the owner's checking or savings account. Not all financial institutions cash paper savings bonds, and those that do often have a limit on the amount they cash. Before mailing paper savings bonds for redemption to the Federal Reserve Bank of Minneapolis, owners must have a local bank officer certify their signature on the back of each bond.
Savings bonds are nontransferable, states TreasuryDirect. Someone who finds a savings bond or buys one at auction cannot cash it. Parents may cash electronic or paper savings bonds for young children of whom they have legal custody. When the original owner of the bond has died, named survivors may cash the bond if they provide a certified copy of the death certificate.