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[quote=Anonymous]Enter all the bond info into the Treasury Direct calculator. Be sure to save the file because you don't want to have to enter all those numbers again for any reason. The calculator will generate a file with the values of the bonds and the interest accrued.

You should cash all matured bonds. The interest of the redeemed bonds is taxable and will generate a 1099 from the institution that cashes them. Technically, I think you are supposed to pay taxes for the year the bond matures, which would require amending old tax returns. Nobody does this since the 1099 is generated for the year you cash the bonds.

Due to increases in scams, banks can be very picky about what bonds they will cash. Some will not cash bonds with face values over a certain amount, or more than 10 bonds at a time. If you can't get a bank to cash them, you can submit bonds by mail to Treasury following the instructions on their website. The funds can be deposited directly into your bank account. Once Treasury receives the bonds they will send you an email with an estimated processing time. This will be 2 weeks of more depending on your situation. If you've had a name change or have a large number of bonds, redemption might take several months. You may not hear from Treasury again and the money will one day appear in your bank account.

If a bond is still active, the calculator will tell you the interest rate. If you want to keep the active bonds, you can create a Treasury account and have them converted to digital bonds.[/quote]

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