Electronic savings bonds are Series EE and Series I bonds held as computer records in a TreasuryDirect account, Treasury's online account system, and every new savings bond has been electronic since January 1, 2025. No paper certificate exists for them.
Owners check, cash and transfer electronic bonds in the account online, or by mail with FS Forms 5512 and 5511, and since October 28, 2026 the only way to sign in to that account is ID.me.
ClaimMyBonds is a private, independent guide to US savings bonds, not Treasury or TreasuryDirect, and it has no access to any account.
This page explains how electronic bonds and their account work for owners and heirs in November 2026, including the rules that changed this year. For how paper and electronic bonds fit together, start with our guide to US savings bonds.
What Electronic Savings Bonds Are
An electronic savings bond is a book-entry Series EE or I bond: it exists only as a record in the owner's TreasuryDirect account, Treasury's online book-entry account system (31 CFR Part 363).
Book-entry means the bond is an entry in Treasury's records rather than a printed certificate. Series E, H, HH and every older series were issued on paper only. Both electronic series earn interest for 30 years (31 CFR 351.5, 359.5).
Electronic vs Paper Savings Bonds: 8 Differences
Electronic and paper savings bonds differ on 8 points, from price to loss. A paper EE bond cost half its face value, the amount named on the bond, while an electronic EE bond costs its full face value (31 CFR 351.40, 351.61).
For heirs, cashing and loss matter most: a paper bond is cashed whole, while an electronic bond can be cashed in part online and has no certificate to lose. The table below compares all 8 points.
| Point | Paper bond | Electronic bond |
|---|---|---|
| Series | EE, E, I, H, HH and older series | EE and I only |
| Price | EE at half of face; I at face | Face value |
| Amounts | Fixed face values (paper EE $50 to $10,000) | $25, then any amount to the cent |
| Issued | Paper EE January 1980 to December 2011; paper I through 2024 | Since 2002 |
| Kept | By the owner, as a certificate | As a record in TreasuryDirect |
| Cashing | Whole bond, at a bank or by mail (FS Form 1522); H and HH by mail only | Online, $25 or more, at least $25 left |
| Value | Treasury's value files and calculator | Shown in the account only |
| Loss | Claim with FS Form 1048 | No certificate to lose |
Sources: 31 CFR 351.40, 351.61, 359.46, 363.54; TreasuryDirect, as of November 11, 2026.
Since When Savings Bonds Are Electronic Only
Savings bonds have been electronic only since January 1, 2025, when Treasury stopped selling paper I bonds through federal tax refunds (IRS Form 8888). Bank and other over-the-counter sales of paper bonds had already ended on January 1, 2012 (76 FR 66855). Electronic bonds go back to 2002.
Treasury published the rule for its New Treasury Direct system on October 17, 2002 (67 FR 64276), and at first that system held only book-entry Series I bonds. Treasury dates electronic savings bonds in TreasuryDirect to 2002 (76 FR 66855), but its published sources do not give the month electronic Series EE bonds began.
Since February 14, 2014, Treasury reissues paper EE and I bonds only as electronic bonds (31 CFR 353.48(a), 360.48(a); 79 FR 8858). A reissue puts an existing bond into a new registration, for example after an owner's death.
Paper bonds already issued stay valid: savings bonds never expire, and there is no deadline to cash them (Executive Order 13968, 85 FR 83745).
What a TreasuryDirect Account Is
A TreasuryDirect account is an online account, in one person's or one entity's name, that holds eligible book-entry Treasury securities (31 CFR 363.10).
The Bureau of the Fiscal Service, part of the Treasury Department, runs it (31 CFR 363.2), and its rules sit in 31 CFR Part 363. Besides savings bonds, the account can hold the zero-percent Certificate of Indebtedness and marketable Treasury securities.
Who Can Open a TreasuryDirect Account
An individual can open a TreasuryDirect account at 18 or older with a valid Social Security number, a U.S. address and a U.S. bank account (31 CFR 363.11). The person must also be legally competent.
The bank account must accept ACH debits and credits, the electronic transfers Treasury uses to pay and collect money. There is no charge to open an account or to manage securities in it (TreasuryDirect).
A TreasuryDirect account number is a letter followed by 9 numbers, for example A123-456-789. An 11-digit number with no letter, such as 1200-345-6789, belongs to Legacy Treasury Direct, a separate system for marketable securities that holds no savings bonds (TreasuryDirect, as of November 11, 2026).
Heirs who find an old statement can use this test to see which system a relative used.
5 Account Types: Primary, Custom, Minor, Conversion and Entity
A TreasuryDirect account comes in 5 forms: the primary account, 3 kinds of linked account for individuals, and a separate entity account for trusts, estates and businesses.
The primary account is the one an individual opens first, and it is the doorway to every linked account (31 CFR 363.10(a)). Linked accounts are sub-accounts reached through it: custom, minor and conversion accounts.
For heirs, the registration on each bond decides who owns it, not the account's label (31 CFR 363.10(b)(1)). A trust or a decedent's estate can hold bonds only in an entity account, an option that exists since April 24, 2009 (74 FR 19416). The table below sets out the 5 types.
| Account type | What it holds | Who controls it | Key rule |
|---|---|---|---|
| Primary | Owner's own bonds; doorway to linked accounts | Owner, 18 or older, with an SSN | Single owner, POD or WITH registration |
| Custom (linked) | Bonds set aside for a stated purpose | The primary owner | Label has no legal effect |
| Minor (linked) | A child's bonds | Parent or chief financial supporter | On hold at 18 until delivered (note 1) |
| Conversion (linked), "My Converted Bonds" | Converted paper bonds only | The primary owner | Gift Box holds bonds registered to others |
| Entity | Bonds of a trust, estate or business (note 2) | One manager who can act alone | Since April 24, 2009; limits in note 3 |
- The parent delivers the account to the new adult, who opens an own account (31 CFR 363.27; TreasuryDirect ID.me FAQ).
- Trust, decedent's estate, living estate, sole proprietorship, partnership, corporation, LLC or PLLC.
- One registration per account; no minor account, gifts, secondary owner or beneficiary; ID.me verifies the manager, not the entity.
Sources: 31 CFR 363.6, 363.10, 363.27; 74 FR 19416; TreasuryDirect User Guide and ID.me FAQ, as of November 11, 2026.
How Electronic Bonds Are Registered: Owner, Beneficiary, Secondary Owner
TreasuryDirect registers an electronic bond in one of 3 forms: single owner, owner with a beneficiary (POD) or primary owner with a secondary owner ("WITH"). POD means payable on death.
A surviving beneficiary or secondary owner takes the bond despite any will or local law (31 CFR 363.20). If the primary and the secondary owner die at the same time, the bond belongs to the primary owner's estate (31 CFR 363.20(b)(3)(ix)).
The paper "OR" co-owner form is not one of the 3 electronic forms. A converted EE or I bond that names an OR co-owner becomes a "restricted security."
Its registration cannot change without the consent of the co-owner who did not convert it, but cashing is unaffected (31 CFR 363.168(d), 363.169(d)). What a beneficiary of a paper bond receives is set out under POD savings bonds.
Signing In Since October 28, 2026: ID.me Only
Since October 28, 2026, the only way into a TreasuryDirect account is ID.me, an identity service run by a separate company. The traditional login "is no longer available" (TreasuryDirect, as of November 11, 2026).
ID.me first became available for TreasuryDirect on September 13, 2026. Each person sets up an ID.me account, which ID.me calls a Wallet. The 6 points owners ask about most are listed below.
- Wallet documents: two government-issued forms of identity, such as a Social Security number and a photo ID; ID.me may ask for a selfie or a video call.
- Setup time: about 5 to 10 minutes, according to TreasuryDirect.
- Account number: not needed to set up the Wallet.
- Login.gov: not accepted, because it is not affiliated with ID.me.
- U.S. address: required, because TreasuryDirect accounts need a U.S. address of record.
- Spouses: each person needs an own Wallet and e-mail address.
Funds stay safe while an owner sets up ID.me; only online access waits, and TreasuryDirect says funds "are not permanently frozen or seized."
A successful ID.me login also unlocks an account that was locked for too many failed login attempts. TreasuryDirect cannot fix ID.me login or verification problems. Treasury's ID.me FAQ lists these rules as of November 11, 2026.
What Owners Do With Electronic Savings Bonds
Owners do 5 things with electronic bonds inside the account: check the value, cash them, receive the money, get the tax form and transfer bonds. Mailed requests for cashing and transfers need a certifying officer, such as a bank officer who certifies signatures. The 5 sections below follow that order.
Checking the Value of an Electronic Bond
The current value of an electronic savings bond appears only in the owner's TreasuryDirect account. Treasury's published value files and TreasuryDirect's own calculator serve paper bonds. ClaimMyBonds publishes no electronic bond values, because Treasury does not document how electronic EE values relate to the per-$25 rows of its value files.
An electronic EE bond is worth at least double its purchase price at original maturity, which is 20 years for EE bonds issued June 2003 and later (31 CFR 351.32(b), 351.35(f)). For paper EE and E bonds, the November 2026 value comes from our savings bond calculator, built on Treasury's published value files.
Cashing Electronic Bonds in the Account
Electronic savings bonds are cashed online in TreasuryDirect, in any amount of $25 or more to the cent (31 CFR 363.57), leaving at least $25 in the bond (31 CFR 363.54).
An owner can also cash a bond in full, as TreasuryDirect's cashing pages describe. In the account, the path is ManageDirect, then Redeem securities (TreasuryDirect, as of November 11, 2026).
A bond issued February 1, 2003 or later cannot be cashed during its first 12 months (31 CFR 351.6, 359.6). A bond cashed less than 5 years after its issue date loses the last 3 months of interest (31 CFR 351.31, 351.35(e), 359.7).
Owners without online access can cash electronic bonds by mail with FS Form 5512 (Rev. April 2026). The form is signed before a certifying officer; a notary is not accepted, and Treasury pays by direct deposit.
The bank, mail and online routes for every kind of bond are compared in our guide on how to cash savings bonds.
Where the Money Goes After the August 2026 C of I Change
Since August 24, 2026, the Certificate of Indebtedness (C of I) is "no longer available as a payment destination" in TreasuryDirect. Guides that send cashed or matured bond money to a C of I are therefore outdated.
A C of I is a zero-interest Treasury security with a one-day maturity that rolls over daily until redeemed (31 CFR 363.131, 363.136).
What happens to money already held in one? Treasury is redeeming C of I balances to each owner's primary bank account on a rolling basis, from late August 2026 through fall 2026. Treasury's C of I FAQ gives this schedule as of November 11, 2026.
Yet 31 CFR 363.165(b) still says that proceeds of matured converted bonds buy a C of I, and Part 363 was last amended in 2016. Treasury has not published where the proceeds of matured converted, gift or electronic bonds go now, so this page names no new destination.
Tax Forms for Electronic Bonds
Treasury posts the Form 1099-INT for electronic savings bonds in the TreasuryDirect account by January 31 of the following year. Form 1099-INT is the tax form that reports interest paid.
Interest is subject to federal income tax for the year the bond is cashed or reaches final maturity, whichever comes first, unless the owner reports it every year (26 U.S.C. 454). The interest is exempt from state and local income tax (31 U.S.C. 3124).
Owners who cannot sign in can call TreasuryDirect at 844-284-2676 to have current-year 1099s mailed after they become available in January (TreasuryDirect ID.me FAQ). How the interest is reported is set out under Form 1099-INT for savings bonds; individual decisions belong with a tax professional.
Transfers Between Accounts: Gifts, Divorce and Court Orders
Electronic savings bonds move between people as a gift or under a final judgment, court order, divorce decree or property settlement agreement (31 CFR 363.55). Online, an owner can transfer a whole bond or a portion of at least $25 to another person's TreasuryDirect account (31 CFR 363.55(a)).
Offline, the move uses FS Form 5511 (Rev. March 2026), signed before a certifying officer; a notary is not accepted. The form also lists other authorized transfers, and on it each bond moves whole, because the form does not allow a bond to be split. Treasury recognizes a divorce decree under 31 CFR 363.45(c).
Inherited bonds sit outside the purchase limit. Electronic EE and I purchases are capped at $10,000 per series per calendar year (31 CFR 363.52(a)).
Bonds received because the registered owner died do not count toward the heir's limit (31 CFR 363.52(c)). A transfer to a trust carries a tax notice: FS Form 5511 requires the Tax Liability Notice and Statement on its page 2.
Paper Savings Bonds and TreasuryDirect: What Is Online and What Is Not
Paper savings bonds do not appear in a TreasuryDirect account and cannot be cashed online. Owners cash them at a bank that agrees to, or by mail with FS Form 1522 (Rev.
April 2026) to Treasury Retail Securities Services, the office in Minneapolis that processes savings bonds for Treasury. Banks may cash paper bonds but are not required to (FS Publication 0022, Rev. October 2022).
Converting paper bonds to electronic is optional. TreasuryDirect's conversion page says: "You can cash paper bonds just as they are." Conversion is one-way, so a converted bond never becomes paper again (31 CFR 363.164).
It works for Series E, EE and I bonds of $25 or more (31 CFR 363.161), never for H or HH bonds. Treasury needs nine months or longer to convert mailed bonds (as of November 11, 2026). A matured bond sent in for conversion is redeemed automatically, and its interest becomes reportable for that year.
Guides for Electronic Bond Owners and Heirs
3 situations send owners and heirs beyond this overview: converting paper bonds, being locked out, and an account owner's death. Each has its own rules, forms and waiting times, and the ID.me switch of October 28, 2026 changed how failed-login locks end. The table summarizes what Treasury says about each, as of November 11, 2026.
| Situation | What Treasury says | Topic |
|---|---|---|
| Converting paper bonds | SmartExchange converts paper E, EE and I bonds of $25 or more. It uses an online conversion manifest, up to 50 bonds per cart. No FS Form 5174 exists. Conversion is optional, one-way and takes nine months or longer. | convert paper savings bonds to electronic |
| Locked out or on hold | A successful ID.me login unlocks failed-login locks. FS Form 5444 (Rev. March 2026) has a "Check to remove Hardlock" box. Mailed unlock requests take two weeks or longer (Treasury's published time); Treasury does not say whether FS Form 5444 applies to ID.me-era locks. | locked out of TreasuryDirect |
| Account owner died | Contact TreasuryDirect: "We will put a hold on the account and tell you what to do." A beneficiary or secondary owner takes the bonds. Above $100,000, the estate must be administered (31 CFR 363.44(d)). | a deceased owner's TreasuryDirect account |
Sources: TreasuryDirect conversion, Contact Us, ID.me FAQ and death-of-owner pages; 31 CFR 363.44, 363.161; as of November 11, 2026.
TreasuryDirect Processing Times for Mailed Requests (November 2026)
Treasury needs from two weeks to eleven months or longer to process mailed requests, as of November 11, 2026, and converting paper bonds takes nine months or longer. These are Treasury's own published estimates, not promises.
The five-month group covers transactions "you are authorized to complete, but that are not in your name," and the longest wait, eleven months or longer, applies to searches for lost bonds.
| Mailed request | Published time | Source |
|---|---|---|
| Unlock an account or update bank details | Two weeks or longer | TreasuryDirect Contact Us |
| Cash paper bonds in your name | Three months or longer | TreasuryDirect Contact Us |
| Requests for bonds not in your name | Five months or longer | TreasuryDirect Contact Us |
| Convert paper bonds to electronic | Nine months or longer | TreasuryDirect Contact Us |
| Trusts and other TreasuryDirect requests | Ten months or longer | TreasuryDirect Contact Us |
| Lost bond searches | Eleven months or longer | TreasuryDirect Contact Us |
Treasury's published processing times for mailed requests. Source: TreasuryDirect Contact Us, as of November 11, 2026.
ClaimMyBonds Is Not TreasuryDirect: Keeping an Account Safe
ClaimMyBonds is a private company and cannot open, see or act in any TreasuryDirect account. TreasuryDirect states that there are "no Treasury approved apps or third-party websites for TreasuryDirect account access" (Contact Us, as of November 11, 2026).
Treasury treats transactions made with an owner's sign-in details as authorized and is not liable for them (31 CFR 363.17). After a compromise, the owner may place a hold on the account and should notify Treasury at once (31 CFR 363.19).
An owner-placed hold is lifted only through the Fiscal Service's Risk Management Group. TreasuryDirect's Contact Us page, its September 2026 ID.me notice and its Legacy Treasury Direct page support 4 safety habits.
- Check the sender: since September 2026, Treasury's official e-mails come from treasurydirect@lists.fiscal.treasury.gov.
- Call only 844-284-2676, Monday to Friday 8am to 6pm ET, or +1 (304) 480-6464 from outside the United States.
- Mail only to Treasury Retail Securities Services, P.O. Box 9150, Minneapolis, MN 55480-9150.
- Refuse anyone who charges to unlock bonds; Treasury charges no account fees.
Misusing Treasury names to imply Treasury approval carries a civil penalty of up to $9,956 per use, or $49,772 if broadcast (31 U.S.C. 333; 31 CFR 27.3(c)). Fake Treasury contacts are one of the savings bond scams aimed at heirs.
When an Heir Needs a TreasuryDirect Account
An heir needs a TreasuryDirect account only to keep inherited Series EE or I bonds; an heir who only wants the money can be paid without one.
Keeping a paper bond means reissue, and since February 14, 2014 Treasury reissues paper EE and I bonds only as electronic bonds in a TreasuryDirect account (31 CFR 353.48(a)). How heirs choose to cash or reissue is covered under savings bonds after death.
Paper EE and I bonds are reissued with an FS Form 4000 request to reissue (Rev. April 2026), signed before a notary or certifying officer.
When a bond is reissued electronically to an heir, a 1099-INT reports the interest earned up to the reissue. Lost paper EE and I bonds are also replaced only as electronic bonds, through FS Form 1048 (Rev. March 2026).
Treasury pays a person entitled to an electronic bond who is "unable, unwilling or ineligible" to open a TreasuryDirect account (31 CFR 363.126(c)). Heirs first need to know what a relative owned: the routes to find savings bonds of a deceased parent come before any claim.
Electronic Savings Bond Questions
How can I access my savings bonds online?
Only electronic savings bonds are online, inside the owner's TreasuryDirect account, reached through ID.me since October 28, 2026. Paper bonds are not listed online anywhere.
How do I create a TreasuryDirect account?
A TreasuryDirect account is opened online by an individual 18 or older with a Social Security number, a U.S. address and a U.S. bank account (31 CFR 363.11, 363.13). Since October 28, 2026, the owner then signs in through an ID.me Wallet.
Does everyone have a TreasuryDirect account?
No: a TreasuryDirect account exists only for a person or entity that opened one online (31 CFR 363.13), and paper bonds are not held in it unless converted. Heirs open one when they want to keep reissued EE or I bonds.
Can I see my paper savings bonds in TreasuryDirect?
No: TreasuryDirect shows only electronic bonds and paper bonds converted through SmartExchange. Treasury Hunt, the old Treasury search for matured paper bonds, has not been available since September 30, 2025. Because Treasury Hunt is closed, owners now claim lost paper bonds by mail with FS Form 1048.
How do I contact the Treasury direct by phone?
TreasuryDirect's published phone number is 844-284-2676, Monday to Friday 8am to 6pm ET, and +1 (304) 480-6464 from outside the United States. There is no walk-in service for savings bonds.
Can you still buy series E savings bonds?
No: Series E sales ended with June 1980 issues, and the only savings bonds sold now are electronic Series EE and I bonds. Every Series E bond, issued May 1941 to June 1980, stopped earning interest by June 2010. Owners can still cash Series E savings bonds at any time.
What happens to a child's TreasuryDirect account at 18?
At 18, a child's minor linked account is put on hold until the parent delivers it to the new adult (31 CFR 363.27; TreasuryDirect ID.me FAQ). The new adult then opens an own account and verifies with ID.me. Paper bonds follow separate rules on cashing a savings bond in a child's name.
Can a trust or an estate hold electronic savings bonds?
Yes: since April 24, 2009, trusts, decedents' estates and other entities can hold electronic bonds in an entity account managed by one person who can act alone (74 FR 19416). An administered estate's legal representative opens a TreasuryDirect account in the estate's name, with letters of appointment, the court papers naming the representative, dated within one year (31 CFR 363.44(a)). The representative's wider duties are covered under savings bonds in probate.
Can Treasury close an empty TreasuryDirect account?
Yes: Treasury reserves the right to close a primary account and its linked accounts after 2 years with no holdings and no activity (31 CFR 363.10(c)). An account that holds even one bond does not meet that test.
Series EE and I Bonds Held in TreasuryDirect
Electronic Series EE and I bonds are sold at face value, from $25 to the cent, and each series has its own owner page. Maturity and value rules for EE bonds are under Series EE savings bonds.
I bond rules for owners are under Series I savings bonds. Treasury announces new rates on May 1 and November 1, and past rates appear in savings bond interest rates by issue date.
TreasuryDirect Forms for Requests by Mail
4 Treasury forms handle TreasuryDirect requests by mail, all mailed to Treasury Retail Securities Services, P.O. Box 9150, Minneapolis. Each must carry the signature certification shown in the list below.
- FS Form 5511: transfer request (Rev. March 2026), certifying officer only.
- FS Form 5512: redemption and bank change request (Rev. April 2026), certifying officer only.
- FS Form 5444: account authorization with a hardlock removal box (Rev. March 2026), notary or certifying officer.
- FS Form 5446: offline transaction request for account changes (Rev. April 2026), certifying officer only.
- Every other form: savings bond forms.
All 4 forms carry the same OMB approval number, 1530-0071.
Rules and dates checked November 11, 2026, against the TreasuryDirect, eCFR and Federal Register sources named above.
Claiming from Treasury and from state programs costs nothing, and the forms are free. Found bonds you cannot cash, or a relative's bonds? ClaimMyBonds is a private company, not the government; we can help with the paperwork, tracing and follow-up.