You convert paper savings bonds to electronic by mailing Series E, EE or I bonds of $25 or more to Treasury, and Treasury says it takes nine months or longer (as of November 11, 2026).
You list the bonds on an online manifest, up to 50 bonds per cart; bonds that still earn interest become electronic bonds in your TreasuryDirect account, and bonds that have stopped earning are cashed. Conversion is optional and one-way. TreasuryDirect states: "You can cash paper bonds just as they are."
ClaimMyBonds is a private, independent guide, not Treasury or TreasuryDirect, and it has no access to any TreasuryDirect account. Conversion is Treasury's own free service, so the sections below explain the rules and the choice.
What Converting Paper Savings Bonds to Electronic Means
SmartExchange is TreasuryDirect's process for trading paper Series EE and I bonds (the regulation adds Series E) for electronic bonds of the same series and issue dates. The converted bonds sit in a Conversion Linked Account, which TreasuryDirect shows as "My Converted Bonds".
An electronic bond is a book-entry record, which means a line in TreasuryDirect with no paper certificate. The rules are in 31 CFR 363 subpart E (sections 363.160 to 363.179), published in 70 FR 14940 on March 23, 2005.
How the account itself works is covered in our guide to electronic savings bonds and TreasuryDirect accounts. Treasury may refuse any conversion in the public interest (31 CFR 363.179). The table below summarizes SmartExchange.
| Point | Rule | Source |
|---|---|---|
| What it does | Paper to electronic, same series and issue dates | TreasuryDirect FAQ |
| Eligible | Series E, EE and I of $25 or more; not H or HH | 31 CFR 363.161 |
| Form | None on paper; online manifest, no FS Form 5174 | TreasuryDirect forms list |
| Cart | 50 bonds per cart; any number of manifests | TreasuryDirect How Do I |
| Where bonds go | Conversion Linked Account, "My Converted Bonds" | TreasuryDirect Convert page |
| Fee | None; the owner pays postage | TreasuryDirect FAQ |
| Reversible | No | 31 CFR 363.164 |
| Required to cash | No | TreasuryDirect Convert page |
| Tax | Not taxable while the bond earns; a matured bond is cashed | TreasuryDirect Convert page |
| Wait | Nine months or longer, as of November 11, 2026 | TreasuryDirect Contact Us |
| Value before converting | Paper value from the Value Files; use our savings bond calculator | Fiscal Data |
Source: TreasuryDirect Convert, How Do I and Contact Us pages, as of November 11, 2026; 31 CFR 363.161 and 363.164.
Which Paper Savings Bonds You Can Convert to Electronic
Yes, you can convert paper savings bonds to electronic if they are Series E, EE or I bonds issued in denominations of $25 or more (31 CFR 363.161). H and HH bonds cannot be converted, according to the eCFR text of part 363. Savings Notes and older series are not named in 363.161.
The $10 Series E bond (issued June 1944 to March 1950) is below the rule's $25 floor. Every paper EE denomination, $50 to $10,000, meets the floor. Whether a bond still earns interest decides what conversion does, as the table shows for November 2026.
| Series | Paper issue dates | Interest status, November 2026 | What conversion does |
|---|---|---|---|
| Series E savings bonds ($25 and up) | May 1941 to June 1980 | All stopped by June 2010 | Cashes the bond |
| Series E, $10 | June 1944 to March 1950 | Stopped | Below the $25 floor in 363.161; cash it |
| Series EE savings bonds | January 1980 to December 2011 | Stopped for January 1980 to November 1996 issues; earning for December 1996 to December 2011 issues | Stopped issues are cashed; earning issues become electronic |
| Series I savings bonds | September 1998 to December 2011, plus tax-refund bonds through 2024 | All earning; first final maturity September 2028 | Becomes an electronic bond |
| Series H and HH | H before 1980; HH 1980 to August 2004 | HH all at final maturity by August 1, 2024 | Cannot convert; cash by mail |
| Savings Notes, Series A to D, F, G, J, K | Various | Not named in 363.161 | Cash instead |
Source: Fiscal Data, Savings Bonds Value Files (redemption month November 2026); 31 CFR 363.161; TreasuryDirect Convert page. December 1996 EE issues reach final maturity on December 1, 2026.
Matured Bonds: Converting a Bond That Stopped Earning Means Cashing It
A paper bond that has reached final maturity, the date it stops earning interest, is converted and automatically redeemed, so conversion cashes it. TreasuryDirect's FAQ says Treasury redeems the bond automatically. The tax year for the interest is covered under taxes below.
The Value Files for November 2026 show which bonds this affects. All Series E stopped by June 2010, and paper EE issued January 1980 to November 1996 have stopped.
Paper EE issued December 1996 to August 1997 reach final maturity between December 1, 2026 and August 1, 2027, the span of Treasury's nine-month wait. This page does not predict how Treasury treats such a bond. No paper I bond stops before September 2028.
One more detail needs care. Treasury's Certificate of Indebtedness (C of I) ended as a payment destination on August 24, 2026, yet 31 CFR 363.165(b) and the Convert page still name it. This page names no destination for matured proceeds. For the dates by series, see when savings bonds mature and stop earning interest.
How to Convert Paper Savings Bonds to Electronic, Step by Step
Converting paper savings bonds to electronic takes 7 steps, all online except mailing the bonds with the signed manifest. TreasuryDirect's How Do I page lists the same sequence.
- Open a TreasuryDirect primary account and sign in with ID.me, the only login since October 28, 2026, with a U.S. address on file; if you are locked out of TreasuryDirect, start there.
- Create a Conversion Linked Account: ManageDirect, Manage My Linked Accounts, Establish a Conversion Linked Account, Create Account.
- Leave the back of each bond unsigned, because TreasuryDirect says "please don't sign the back of your savings bonds".
- Add the bonds to a conversion cart, up to 50 bonds per cart.
- Create the manifest, a numbered list of the bonds in the cart; you can create as many manifests as you need.
- Print and sign the manifest, keep a copy, and mail it with the bonds to the address shown on the manifest; the manifest states that your signature authorizes Treasury to convert your bonds.
- Track the manifest under "View my manifests", because Treasury sends no notice on receipt or completion.
Who Can Convert: Account Owners, Gift Bonds and Entity Accounts
The owner of a TreasuryDirect primary account may convert paper bonds (31 CFR 363.162). That account needs an individual 18 or older with a Social Security number, a U.S. address and a U.S. bank account that accepts ACH, the electronic bank transfer network (31 CFR 363.11).
Bonds not in the account owner's name are presumed gifts (31 CFR 363.166) and go to the Gift Box of the Conversion Linked Account, which can deliver them after 5 days. An entity account (a trust, estate or business) may convert only bonds registered in the entity's name (31 CFR 363.166).
Registrations When You Convert: OR Co-Owners, Deceased Registrants and Name Changes
Conversion keeps the paper registration with three changes that Treasury publishes. An improper registration becomes the closest authorized form, so "AND" becomes "OR" (31 CFR 363.167).
A bond naming an OR co-owner becomes a "restricted security". A deceased registrant is omitted when you send a certified copy of the death certificate, and the bond is converted in the survivor's name alone.
A restricted security cannot change registration without the non-converting co-owner's consent, and cashing is unaffected. Edits go on FS Form 5446 (Rev. April 2026), certified by a certifying officer, an officer at a bank, trust company or credit union; a notary is not accepted.
TreasuryDirect also lists SmartExchange as an alternative to FS Form 4000 for a name change, a beneficiary change or removing a deceased registrant. Check the registration first, as our guide to reading an OR co-owner on a paper savings bond explains.
Current Wait Times to Convert Paper Savings Bonds (November 2026)
Converting paper savings bonds takes nine months or longer, according to TreasuryDirect's Contact Us page as of November 11, 2026: "It may take nine months or longer to process requests to convert paper savings bonds into electronic bonds."
Cashing the same bonds by mail in your name takes three months or longer. The table below gives four of Treasury's published times.
| Request | Published time |
|---|---|
| Convert paper bonds to electronic | Nine months or longer |
| Cash paper bonds in your name | Three months or longer |
| Cash bonds not in your name | Five months or longer |
| Trusts and other TreasuryDirect requests | Ten months or longer |
Source: TreasuryDirect Contact Us, as of November 11, 2026.
Treasury sends no notice when it receives or finishes a request, so you check "View my manifests" in your account. Forum posts quote shorter and longer times, but this page uses only Treasury's published figure. A manifest shows one of six statuses, listed below.
- In Progress
- Pending
- Returned
- Not received
- Canceled
- Converted (processing finished)
Should You Convert Paper Savings Bonds to Electronic or Cash Them?
Conversion suits owners who want to keep bonds that still earn interest in TreasuryDirect, while owners who want the money cash the paper bonds. Conversion is not required, and Treasury publishes nine months or longer for conversion against three months or longer for cashing by mail in your name.
Conversion is one-way (31 CFR 363.164), so a converted bond never returns to paper. Converted bonds are managed online through ID.me, with no paper certificate to store or lose. A matured bond is cashed on conversion anyway (see the section on matured bonds above).
Cashing needs no conversion: Treasury charges no fee, a bank may not charge you for cashing (31 CFR 321.23(c)), and by mail only the postage is yours.
A bank or the mail both work, as the guide on how to cash savings bonds shows. The owner decides, and the table lists the routes Treasury offers by situation.
| Situation | Route | Why |
|---|---|---|
| Want the money now | Cash at a bank or by mail | Three months or longer by mail |
| Want to keep earning bonds | Convert | Nine months or longer |
| Bond past final maturity | Cash | Conversion would cash it |
| Surviving co-owner or POD beneficiary keeping EE or I bonds | FS Form 4000 or SmartExchange; see reissuing inherited savings bonds | Survivor's name, death certificate; an estate heir files the estate form first |
| Found paper bonds, unsure | Check series and issue date; see found old savings bonds | Status decides the outcome |
| H or HH | Cash only | TreasuryDirect: "You cannot convert H or HH bonds" |
| $10 Series E | Cash it | Below the $25 floor in 363.161 |
Source: TreasuryDirect Convert, Contact Us and How Do I pages, as of November 11, 2026; 31 CFR 363.161.
Taxes When You Convert Paper Savings Bonds
Converting a paper bond that still earns interest is not a taxable event, according to the TreasuryDirect Convert page. Converting a matured bond cashes it.
Savings bond interest is federally taxable in the year of redemption or final maturity, whichever comes first, unless you report it yearly (26 U.S.C. 454; IRS Publication 550), and it is exempt from state and local income tax (31 U.S.C. 3124).
TreasuryDirect posts the 1099-INT for electronic bonds in your account by January 31 of the following year; see Form 1099-INT for savings bonds. A tax professional can answer questions about your own bonds, including bonds that matured in earlier years.
After Conversion: Your Converted Bonds in TreasuryDirect
Converted bonds sit in the Conversion Linked Account ("My Converted Bonds") of your TreasuryDirect account, as electronic bonds with their original series and issue dates.
To add a secondary owner or a beneficiary, first transfer the bonds out of the conversion account to your primary account or another linked account (TreasuryDirect How Do I).
You can cash a whole electronic bond online, or part of one in amounts of $25 or more to the cent, as long as at least $25 stays in the bond (31 CFR 363.54 and 363.57); the path is ManageDirect, then Redeem securities.
Owners without online access can use FS Form 5512 (Rev. April 2026), which needs a certifying officer; a notary is not accepted.
Since October 28, 2026 ID.me is the only way to sign in, and it needs a U.S. address. A successful ID.me login clears failed-login locks.
Other Routes for Paper Savings Bonds: Cash, Reissue or Replace
A paper savings bond has three routes besides conversion: cash it, reissue it, or replace it if it is lost. Bonds never expire and carry no cashing deadline (Executive Order 13968, 85 FR 83745).
Cashing Paper Bonds Without Converting Them
Paper bonds are cashed at a bank that agrees to (banks may, not must, under FS Publication 0022, Rev. October 2022) or by mail to Treasury Retail Securities Services, P.O. Box 9150, Minneapolis, MN 55480-9150. Paper bonds cannot be cashed online. The mail request is FS Form 1522 (Rev. April 2026).
Reissue With FS Form 4000 Instead of Converting
FS Form 4000 (Rev. April 2026, OMB 1530-0025) reissues paper EE and I bonds, which Treasury issues only as electronic bonds in a TreasuryDirect account. You sign it before a notary or certifying officer, and Treasury does not reissue within one month of final maturity. Details are on the page for FS Form 4000.
Lost Paper Bonds Cannot Be Converted: FS Form 1048
Conversion needs the paper bond itself, so a lost, stolen or destroyed EE or I bond is claimed with a form and replaced only as an electronic bond. The claim form is FS Form 1048 (Rev. March 2026).
Paper Savings Bond Conversion FAQ
Is There a Form to Convert Paper Savings Bonds to Electronic?
No; there is no FS Form 5174 or any paper conversion form on TreasuryDirect's forms list (checked November 11, 2026), and you list the bonds on an online conversion manifest. Our overview of savings bond forms shows what does exist.
Can You Convert Paper Savings Bonds Online Without Mailing Them?
No; the paper bonds themselves are mailed with the signed manifest, and only the listing is done online.
Can You Convert Series EE Bonds to HH Bonds?
No; SmartExchange converts to electronic only, H and HH bonds cannot be converted, and exchanges of E or EE bonds for HH bonds ended on August 31, 2004 (31 CFR 352). Every HH bond reached final maturity by August 1, 2024; see Series HH savings bonds.
Can a Converted Bond Be Turned Back Into Paper?
No; a converted bond "may not be converted back into a definitive bond" (31 CFR 363.164).
Does Treasury Charge a Fee to Convert Savings Bonds?
No; Treasury charges no fee to convert, and the owner pays the postage to mail the bonds.
Can ClaimMyBonds or Another Website Convert My Bonds?
No; TreasuryDirect states there are "no Treasury approved apps or third-party websites for TreasuryDirect account access", and ClaimMyBonds is a private company that cannot open, see or act in any account. Conversion is free from Treasury; read more about savings bond scams.
Rules checked November 11, 2026, against the Treasury sources named above; see our methodology.
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.