Series HH savings bonds are paper current-income bonds issued from January 1980 to August 2004 in $500, $1,000, $5,000 and $10,000 denominations, and every one stopped paying interest by August 1, 2024.
An HH bond is now worth exactly its face value, the amount printed on it. Only Treasury redeems it: you mail the bond with FS Form 1522 and receive the money by direct deposit.
ClaimMyBonds is an independent private guide, not Treasury, and Treasury's forms are free. This page covers how HH bonds paid interest, when each one reached final maturity, how to redeem one by mail, and what owners and heirs report for tax.
What Are Series HH Savings Bonds?
A Series HH savings bond is a paper current-income bond: Treasury sold it at face value and paid its interest out every six months instead of adding it to the bond.
Treasury offered HH bonds under 31 CFR part 352, and the general rules in 31 CFR part 353 govern them (31 CFR 352.1). Series EE and HH replaced Series E and H in January 1980.
All the types of US savings bonds are compared side by side on our series overview. The table below sums up the main terms of an HH bond.
| Attribute | Series HH detail | Source |
|---|---|---|
| Issued | January 1980 to August 2004 | 31 CFR 352.0 |
| Price | Face value | TreasuryDirect |
| Denominations | $500, $1,000, $5,000, $10,000; paper only | TreasuryDirect |
| Interest | Paid every six months | 31 CFR 352.2 |
| Direct deposit | Required for issues from October 1, 1989 | 31 CFR 352.2(f) |
| Life | 20 years: 10-year original maturity plus 10-year extension | 31 CFR 352.2(c) |
| Interest stopped | All bonds by August 1, 2024 | TreasuryDirect |
| Worth today | Face value | TreasuryDirect |
| Cashing | Treasury only, FS Form 1522 by mail, direct deposit | TreasuryDirect; 31 CFR 321.9(b) |
| Issuing and paying agents | Federal Reserve Banks and Fiscal Service only | 31 CFR 352.5 |
| Rules | 31 CFR parts 352 and 353 | eCFR |
| Bonds issued and unredeemed | 14,941,799 issued; 454,377 unredeemed | Fiscal Data, September 30, 2026 |
Sources: eCFR parts 352 and 353; TreasuryDirect HH pages, as of November 11, 2026; Fiscal Data, September 30, 2026.
Series HH vs Series EE: Interest Paid Out, Not Added to Value
Series EE is the accrual partner of HH: paper EE bonds sold at half their face value and grew in value, while HH bonds sold at face value and paid their interest out.
Paper EE bonds were issued from January 1980 to December 2011 and earn interest for 30 years; HH bonds earned for 20 years.
An EE bond's current redemption value, the amount Treasury pays for it today, comes from Treasury's monthly value files. An HH bond needs no lookup, because its value always equals its face value. The comparison below covers what matters to an owner today.
| Point | Series HH | Paper Series EE |
|---|---|---|
| Issued | January 1980 to August 2004 | January 1980 to December 2011 |
| Price paid | Face value | Half of face value |
| Interest | Paid out every six months | Added to the bond's value |
| Final maturity | 20 years | 30 years |
| Worth today | Face value | Treasury's value files, by issue month |
| Cash at a bank | No | Banks may, but are not required to |
| Convert to electronic | No | Yes, $25 face or more |
Sources: 31 CFR parts 351 and 352, 321.9(b) and 363.161; TreasuryDirect, as of November 11, 2026.
How Owners Got HH Bonds: Cash Purchases Until 1982, Then Exchanges Until August 31, 2004
Owners got HH bonds in 2 ways: by buying them for cash until 1982, and by exchanging older bonds for them until the close of business August 31, 2004 (TreasuryDirect timeline; 31 CFR 352.0).
TreasuryDirect's history timeline gives only the year cash sales ended. A cash buyer could buy up to $20,000 in face value a year (31 CFR 353.10(b)(1)). Exchanges had no annual limit (31 CFR 352.4).
From 1982 on, exchanges were the only way to get HH bonds: owners traded Series E bonds, Series EE bonds and Savings Notes (also called Freedom Shares) for new HH bonds.
E bonds and Savings Notes stayed eligible for one year from the month they reached final maturity (31 CFR 352.7). Proceeds of matured Series H or HH bonds could also be reinvested in HH (31 CFR 352.8).
In an exchange, the owner could carry the unreported interest of the E or EE bonds into the new HH bond instead of reporting it that year (IRS Publication 550). That amount is the deferred interest explained below.
HH Bond Interest Rates by Issue Date
HH bonds paid a rate set by issue date, from 4% a year for March 1993 to December 2002 issues to 8.5% for May 1981 to October 1982 issues (31 CFR 352.2(e)(1)).
Treasury paid that interest every six months until the bond's original maturity, 10 years after issue. For bonds issued from October 1, 1989, the payments had to go by direct deposit (31 CFR 352.2(f)). The table lists the original-maturity rate for each issue period in the regulation.
| Issue dates | Rate to original maturity (per year, paid every six months) |
|---|---|
| January to October 1980 | 6.5% at launch, up 1 point November 1980 and May 1981 |
| November 1980 to April 1981 | 7.5%, up 1 point from May 1981 |
| May 1981 to October 1982 | 8.5% |
| November 1982 to October 1986 | 7.5% |
| November 1986 to February 1993 | 6% |
| March 1993 to December 2002 | 4% |
| January 2003 to August 2004 | Set by Treasury rate announcements, not printed in 352.2(e)(1) |
No HH bond earns interest after August 1, 2024. Sources: 31 CFR 352.2(e)(1) (eCFR, as of November 11, 2026); TreasuryDirect HH interest rates page.
These rates applied up to the 10-year original maturity; extension-period rates are not part of this table.
Are HH Bonds Still Paying Interest?
No. Treasury's interest payments on HH bonds "have ceased as of August 1, 2024, as all bonds have reached final maturity," according to TreasuryDirect. Final maturity is the date a bond stops earning interest for good. TreasuryDirect's HH rate page still shows "1.5% per year, paid every 6 months" as the last listed rate, but no HH bond earns it.
Two HH account forms are still on TreasuryDirect's forms list. FS Form 5396 (Rev. April 2026) sets up direct deposit for redemption payments of any series and for HH or H interest payments. FS Form 5257 (Rev. October 2015) reports an address change on an HH or H account; an e-mail to SavBond1@fiscal.treasury.gov also works.
When Did HH Bonds Reach Final Maturity? 20 Years After Issue
Each Series HH bond reached final maturity 20 years after its issue date, so the first bonds stopped in January 2000 and the last ones in August 2024.
The 20 years are a 10-year original maturity plus one 10-year extension (31 CFR 352.2(c)). TreasuryDirect confirms: "All Series HH Savings Bonds have reached final maturity as of August 1, 2024."
Savings bonds have no deadline to cash (Executive Order 13968, 85 FR 83745, December 2020).
An HH bond gains nothing by being held, because it earns no interest and its value stays at face. Fiscal Data counts 454,377 HH bonds still unredeemed out of 14,941,799 issued, about 3.0 percent, as of September 30, 2026. The count is in pieces; this guide states no dollar total.
How Much Is an HH Bond Worth? Its Face Value
A Series HH bond is worth its face value: a $1,000 HH bond pays $1,000 whenever it is cashed (TreasuryDirect). Treasury paid the interest out along the way, so no calculation is needed.
Bonds that grow in value are different: our savings bond calculator, built on Treasury's published value files, prices paper Series EE and E bonds. The four HH denominations and what each pays are shown below.
| Face value | Price paid | Worth when cashed | Value by series |
|---|---|---|---|
| $500 | $500 | $500 | how much is a $500 savings bond worth |
| $1,000 | $1,000 | $1,000 | how much is a $1,000 savings bond worth |
| $5,000 | $5,000 | $5,000 | how much is a $5,000 savings bond worth |
| $10,000 | $10,000 | $10,000 | how much is a $10,000 savings bond worth |
Deferred interest shown on the bond is part of these amounts. Source: TreasuryDirect HH cashing page ("An HH bond is worth its face value"), as of November 11, 2026.
TreasuryDirect also states: "You cannot cash part of an HH bond." The whole bond is redeemed at once, so a $5,000 HH bond pays $5,000 in one direct deposit.
Deferred Interest and the Tax-Deferral Legend on an HH Bond
Deferred interest is the E or EE bond interest an owner chose not to report when exchanging those bonds into HH. The tax-deferral legend on the HH bond prints that amount (31 CFR 352.7(g)(2)).
The legend is part of the face value, not money owed on top of it. An HH bond from an exchange without deferral shows "0" in the legend (31 CFR 352.7(h)).
The legend matters only for tax. It tells the owner, or an heir, how much of the face value is interest whose tax was postponed. A $1,000 HH bond with a deferred amount in its legend still pays $1,000.
How to Redeem HH Bonds: FS Form 1522 by Mail to Treasury
Redeem HH bonds in 4 steps: get FS Form 1522 (Rev. April 2026), fill it out, certify your signature above $1,000, and mail the form and bonds to Treasury.
Every item is walked through under FS Form 1522 by mail. The bonds go to Treasury Retail Securities Services, Treasury's office for paper savings bonds. The 4 steps are listed below.
- Get FS Form 1522 (Revised April 2026) from TreasuryDirect, where it is free.
- Fill in each bond's issue date and serial number and your direct deposit details.
- Certify your signature if the bonds total more than $1,000; otherwise enclose an ID copy.
- Mail the form, the bonds and any legal evidence to the address below.
Because value equals face value, the $1,000 signature test is simple addition, as the table shows.
| Bonds in one request | Total value | What FS Form 1522 needs |
|---|---|---|
| One $500 HH | $500 | Signature plus copy of driver's license, passport, state ID or military ID |
| One $1,000 HH | $1,000 | Same: not more than $1,000 |
| One $500 and one $1,000 HH | $1,500 | Notary or certifying officer |
| One $5,000 HH | $5,000 | Notary or certifying officer |
Values equal face value. Sources: FS Form 1522 (Rev. April 2026); TreasuryDirect HH cashing page, as of November 11, 2026.
A notary is a state-commissioned official. A certifying officer is an official Treasury's rules authorize to confirm your identity and signature, such as a US bank officer (31 CFR 353.55).
Treasury Retail Securities Services
P.O. Box 9150
Minneapolis, MN 55480-9150
Phone: 844-284-2676 (toll free)
Source: FS Form 1522 (Revised April 2026); TreasuryDirect HH cashing page; phone: TreasuryDirect HH direct-deposit page (https://www.treasurydirect.gov/savings-bonds/hh-bonds/hh-bonds-direct-deposit/), as of November 11, 2026
An heir or other person cashing bonds not in their name adds legal evidence, which Treasury does not return. Treasury charges no fee and the forms are free.
Why a Bank Cannot Cash HH Bonds
A bank cannot cash HH bonds because 31 CFR 321.9(b) bars paying agents from redeeming Series F, G, H, J, K or HH. Paying agents are the institutions that cash savings bonds for Treasury under 31 CFR part 321. TreasuryDirect says: "You cannot cash them at a bank or other financial institution."
Only Federal Reserve Banks and the Bureau of the Fiscal Service issued and paid HH bonds (31 CFR 352.5). A bank may cash paper E, EE or I bonds, but it is not required to. For those series, the policies of each bank are collected under what banks cash savings bonds.
After You Mail HH Bonds: Processing Time, Direct Deposit and 1099-INT
After you mail HH bonds, Treasury pays by direct deposit in three months or longer and sends a 1099-INT only if interest or deferred interest is paid.
The three months apply when you are named on the bonds; bonds not in your name take five months or longer (TreasuryDirect contact page, as of November 11, 2026).
Payment goes to the account in Item 2 of FS Form 1522. The routing number must have nine digits starting with 0, 1, 2 or 3. You bear the cost and the risk of mailing the bonds (31 CFR 353.39(b)).
Form 1099-INT is the IRS form that reports interest paid to you. Treasury sends one by January 31 of the following year, and only if the payment includes interest or deferred interest. Reporting for all series is set out under Form 1099-INT for savings bonds.
Are HH Bonds Taxable? Semiannual Interest and Deferred Interest
Yes: HH interest is subject to federal income tax and exempt from state and local income tax (31 U.S.C. 3124(a)).
The state exemption in 31 U.S.C. 3124 does not cover federal estate, gift or excise taxes, or state estate or inheritance taxes. The semiannual interest was reported for each year it was paid (IRS Publication 550).
Deferred interest is reportable in the year of the first of 3 events: cashing the bond, the bond reaching final maturity, or a taxable reissue (TreasuryDirect HH tax page).
For an HH bond that reached final maturity in an earlier year, that earlier year is the year the rule names. Bonds dated 2004 reached final maturity in 2024, so their deferred interest was reportable for 2024.
Treasury sent a 1099 at the end of 2024 even for bonds not cashed. IRS Publication 550 gives an example: an owner trades EE bonds that cost $2,200 for $2,500 of HH bonds plus $223 in cash.
The $223 is taxable in the year of the trade, and the remaining $300 of EE interest is reportable when the HH bond matures.
For HH bonds held as community property, or acquired with jointly funded bonds, Treasury sends only one 1099-INT, to the person named first. Reporting deferred interest on an HH bond cashed years after final maturity is a question for a tax professional; rules for every series are under federal tax on savings bond interest.
Inherited HH Bonds: Redemption Is the Only Option
An inherited HH bond can only be redeemed, never kept or reissued, because every HH bond reached final maturity by August 1, 2024. FS Form 5336 (Rev.
April 2026) states in Part F: "Series H/HH bonds must be redeemed as they are no longer earning interest." Survivors and distributees, the people entitled to an estate's property, cash HH bonds by mail with FS Form 1522.
One older TreasuryDirect estates page still describes keeping an inherited HH bond. FS Form 5336 and TreasuryDirect's court-appointed representatives page both say redeem it; follow the form.
A co-owner is a second owner named on the bond with "OR"; a POD (payable-on-death) beneficiary receives the bond when the owner dies. Letters of appointment are the court document naming an estate's representative. The table shows who redeems an inherited or shared HH bond.
| Situation | What happens | Related topic |
|---|---|---|
| Surviving co-owner or POD beneficiary | Becomes owner (31 CFR 353.70); FS 1522 plus certified death certificate | savings bond co-owner rules |
| Estate not administered, $100,000 or less | Voluntary representative files FS 5336; payment only | FS Form 5336 |
| Probate, court-appointed representative | Signs with title; letters dated within one year; may distribute with FS 1455 | savings bonds in probate |
| Closed estate or state small-estate procedure | FS Form 5394 (Rev. May 2026); payment only | FS Form 5394 |
| HH bond held in a trust | Payment only, as for every HH bond | savings bonds in trust |
| POD beneficiary died before the owner | No proof of the beneficiary's death needed | FS Publication 0063 |
| Any other series or situation | Rules differ by series | savings bonds after death |
Sources: FS Form 5336 (Rev. April 2026); 31 CFR 353.70 and 353.71; TreasuryDirect death-of-owner pages, as of November 11, 2026.
Heirs' requests for bonds not in their own name take five months or longer to process (TreasuryDirect, as of November 11, 2026).
Lost or Missing HH Bonds and the Serial-Number Rule
A lost, stolen or destroyed HH bond is claimed with FS Form 1048 (Rev. March 2026), and Treasury pays the claim by direct deposit instead of replacing the bond. The form is explained under FS Form 1048 claim for lost savings bonds.
You sign the claim before a notary or a certifying officer.
Under 31 CFR 353.29(c), Treasury does not consider a claim filed six years or more after final maturity unless it gives the bond's serial number. HH bonds reach that six-year point between 2006, for 1980 issues, and August 2030, for the last August 2004 issues.
Treasury Hunt, Treasury's discontinued online search, has not been available since September 30, 2025. TreasuryDirect's HH lost-bond page still describes the special FS Form 1048 used for Treasury Hunt results. For an HH bond more than six years past final maturity, a claim now depends on the savings bond serial number from your own records.
Series HH and the Other Savings Bond Series
Series HH is one of 13 lettered savings bond series; the Savings Notes were a separate issue without a letter. The series that no longer earn interest are listed below (TreasuryDirect, as of November 11, 2026).
- Series A, B, C and D
- Series E, all stopped by June 2010
- Series F, G, J and K
- Series H, all stopped by December 2009
- Savings Notes (Freedom Shares)
- Series HH, all stopped since August 2024
Series H: The Current-Income Bond HH Replaced
Series H was the current-income bond HH replaced, issued June 1952 to December 1979 at face value, $500 to $10,000. It stopped earning after 29 years 8 months or 30 years, and is redeemed at face value by mail. Fiscal Data counts 26,680 Series H savings bonds unredeemed as of September 30, 2026.
Series E and EE Bonds Exchanged Into HH
Series E bonds, Savings Notes and Series EE bonds could be exchanged into HH until August 31, 2004. Every one of the Series E savings bonds stopped earning by June 2010. Paper Series EE savings bonds earn for 30 years and are valued by issue month.
Series HH FAQ
Can You Still Buy Series HH Savings Bonds?
No. The HH offering ended at the close of business August 31, 2004 (31 CFR 352.0). New savings bonds are electronic Series EE and I.
Can EE Bonds Still Be Converted to HH Bonds?
No. IRS Publication 550 describes the E or EE to HH trade as possible "Prior to September 2004," and exchanges ended August 31, 2004.
Do Savings Bonds Stop Earning Interest After 30 Years?
Series EE and I bonds stop earning after 30 years, Series E after 40 or 30 years, and Series HH after 20 years. The dates for each series are set out under final maturity by series.
How Do You Check Whether an HH Bond Was Already Cashed?
Write to Treasury Retail Securities Services, P.O. Box 9150, Minneapolis, MN 55480-9150. List the serial numbers, sign the letter and do not send the bonds (TreasuryDirect HH cashing page, as of November 11, 2026).
Can HH Bonds Be Converted to Electronic Bonds?
No. TreasuryDirect states: "You cannot convert H or HH bonds." SmartExchange, the tool used to convert paper savings bonds to electronic form, accepts only Series E, EE and I bonds of $25 or more (31 CFR 363.161).
Do HH Bonds Need a Medallion Stamp to Be Cashed?
Only when the HH bonds you cash total more than $1,000. Then a notary, a financial institution's seal or stamp, or a medallion stamp from a Treasury-recognized program certifies your signature on FS Form 1522. These are the three forms of savings bond signature certification the form accepts. ClaimMyBonds does not certify signatures.
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.