Q: When is a good time to cash in U.S. savings bonds?
A: According to information on treasurydirect.gov, it’s important to check your savings bonds periodically to determine if they’re still earning interest, and if they’re not, they should be redeemed. I was surprised to learn that billions of dollars in savings bonds have stopped earning interest, but haven’t been cashed.
On the same site, you can find very useful tables to determine
whether your bonds have stopped earning interest, or for how long you
can expect them to earn interest.
If you’re not sure whether you own any bonds that have matured, click here for the “Treasury Hunt” page.
And, by the way, if you want to buy a savings bond, you can use your
tax refund. And, new this tax-filing year, you can purchase bonds for
others, in addition to buying them for yourself. You don’t have to use
all of your refund to purchase savings bonds. You can use IRS Form 8888 to request the purchase of savings bonds.
The IRS said it received 22,520 tax returns requesting more than 99,000 savings bonds totaling about $11.2 million.