How to Cash Savings Bonds After a Death (2026)
How to cash savings bonds of a deceased parent: paper vs TreasuryDirect bonds, co-owners, POD beneficiaries, FS-5336 and taxes.
October 23, 2026
By Stephen Walter, Attorney and CEO
If your parent owned savings bonds, the next step depends on how each bond is registered. To cash a deceased parent's savings bonds, you first need to know whether the bond is in TreasuryDirect or on paper, whether there is a co-owner or payable-on-death beneficiary, and whether a probate representative has been appointed.
Savings bonds are federal assets, so the U.S. Treasury sets the transfer and payment process. This guide explains the usual paths for an adult child handling a parent's estate, including TreasuryDirect deceased owner accounts, the FS-5336 form for small estates, the FS-1522 form for payment, and how taxes may work. This is general information, not legal or tax advice.
Start with the bond registration
Before you fill out a form, look at the name line on the bond or in the TreasuryDirect account. The registration tells you who has authority after a death.
Common registrations include:
| Registration type | What it usually means after death |
|---|---|
| Two co-owners, such as Parent OR Child | The surviving co-owner generally becomes the owner. |
| Owner with POD beneficiary, such as Parent POD Child | The beneficiary generally becomes the owner after the owner's death. |
| Single owner, no beneficiary | The bond usually belongs to the estate. |
| Trust registration | The trustee usually follows the trust document and Treasury rules. |
For paper savings bonds after death, the registration appears on the front of the bond. For electronic bonds, sign in to TreasuryDirect if you have authority, or contact TreasuryDirect for the deceased owner's account instructions.
If you are still gathering assets, check home files, a safe deposit box, tax records, old bank statements, and mail. Sunset's guide to opening a deceased person's safe deposit box can help if you think paper bonds may be stored at a bank.
Paper bonds vs. TreasuryDirect bonds
The cashing process is different for paper and electronic bonds.
Paper bonds are physical certificates, usually Series EE, Series I, or older Series E bonds. Some banks may redeem paper bonds for a surviving owner or beneficiary, but many will not handle estate claims. If a bank cannot help, you can mail the bond and the right Treasury form to Treasury Retail Securities Services.
TreasuryDirect bonds are electronic. They are held in an online account with the U.S. Treasury. For a TreasuryDirect deceased owner, the Treasury will ask for proof of death and proof of your authority or entitlement. The exact request depends on whether you are a co-owner, beneficiary, executor, administrator, or small estate claimant.
Do not sign the back of a paper bond until you know where it will be redeemed and what signature certification is required. Some forms require a certifying officer, such as a bank officer, not just a notary.
If there is a surviving co-owner
If the bond lists a co-owner who is still living, the process is often simpler. The surviving co-owner generally owns the bond after the other co-owner dies.
The surviving co-owner may be able to:
- Keep the bond until it matures or until they choose to redeem it.
- Cash the bond and receive the proceeds.
- Reissue the bond in some cases, subject to Treasury rules.
For paper bonds, the surviving co-owner may use FS Form 1522 to request payment if mailing the bonds to the Treasury. If redeeming at a bank, the bank may ask for a certified death certificate and identification.
For electronic bonds, the surviving co-owner should follow TreasuryDirect's death claim process. TreasuryDirect may move the bonds to the survivor's account after it reviews the death certificate and any required documents.
If there is a POD beneficiary
A POD beneficiary is a person named to receive the bond after the owner dies. For savings bonds, this may appear as "POD" or "beneficiary" on the registration.
If your parent was the sole owner and you are the named POD beneficiary, you generally can request payment or reissue after proving the death and your identity. For paper bonds, FS Form 1522 is commonly used to request payment. For electronic bonds, TreasuryDirect will tell you how to claim or transfer the bonds.
A POD beneficiary may not need probate for that bond because the beneficiary designation controls the transfer. That said, the bond may still matter for tax reporting and for the estate's records. If you are also executor, keep a copy of the death certificate, Treasury forms, and payment records with the estate file.
If there is no co-owner or beneficiary
If the bond was owned only by the person who died and no beneficiary is named, the bond usually becomes an estate asset. The next step depends on whether probate is open.
If probate is open, the executor or administrator can usually request payment or reissue by sending the Treasury:
- The bonds, if they are paper.
- A certified copy of the death certificate.
- Letters testamentary or letters of administration, if required.
- The correct Treasury form, often FS Form 1522 for payment.
- Payment instructions.
If no probate has been opened, the Treasury has a small-estate path for some cases. This is where the FS-5336 form may apply.
Using the FS-5336 form for a small estate
FS Form 5336 is called "Disposition of Treasury Securities Belonging to a Decedent's Estate Being Settled Without Administration." In plain English, it is the Treasury's small-estate process for securities owned by a person who died when no court-appointed estate representative is handling the estate.
This can be useful when the savings bonds are the main asset or the estate is small enough that the family is not opening probate. The Treasury sets limits and requirements, so read the current form instructions before mailing anything.
The FS-5336 form may ask for:
- Information about the deceased.
- Information about the person claiming the bonds.
- A list of surviving relatives and their relationship to the deceased.
- Agreement from other people who may be entitled to the estate.
- Certified death certificate.
- Paper bonds, if the claim involves physical bonds.
The Treasury may reject a claim if the estate is already under court administration or if the family dispute cannot be resolved through the form process. If there is a disagreement among siblings or other heirs, ask a local probate attorney before submitting a claim.
FS Form 1522 vs. FS Form 5336
These two forms are easy to confuse.
FS Form 1522 is generally a request for payment. It is often used when the person requesting payment already has a clear right to the bond, such as a surviving co-owner, beneficiary, or authorized estate representative.
FS Form 5336 is for certain estates being settled without court administration. It helps the Treasury decide who may receive the securities when no executor or administrator has been appointed.
You may also see other Treasury forms for reissue, trust claims, or securities held in TreasuryDirect. Always use the current form from TreasuryDirect.gov, because form names and instructions can change.
How to find lost savings bonds
If you think your parent owned bonds but cannot find them, start with Treasury Hunt, the Treasury's search tool for matured savings bonds and some other Treasury securities. You can search using the deceased person's Social Security number and other identifying information.
Treasury Hunt may not show every bond. Older paper bonds, gifts from grandparents, payroll savings plan bonds, and bonds bought decades ago can be hard to trace. Check:
- Old tax returns for savings bond interest.
- Bank records showing bond purchases.
- Safe deposit box inventories.
- Home files, envelopes, and fireproof boxes.
- Mail from TreasuryDirect or the Bureau of the Fiscal Service.
Sunset can also help families look for accounts and assets during estate settlement. Sunset searches 2,500+ financial institutions to find accounts and assets, and this can help you build a more complete estate inventory. For more on that process, see What Sunset Searches For After a Death.
Taxes on savings bond interest after death
Savings bonds can create income tax issues. The interest is generally subject to federal income tax, but not state or local income tax. The hard part is deciding who reports the interest and for what period.
If the deceased reported bond interest each year, only the interest after the last reported period may remain. Many people do not report savings bond interest annually. They wait until the bond is redeemed, matures, or is transferred in a taxable event.
Interest earned before death may be income in respect of a decedent, often called IRD. Depending on the situation, the interest may be reported on the deceased person's final income tax return, by the estate, or by the person who receives or cashes the bond. The executor may have choices about whether to report accrued interest through the date of death on the final return.
Because the tax result can change based on prior reporting and timing, keep the Treasury payment record and any Form 1099-INT. If the IRS later sends a letter about the estate or final return, Sunset's guide to IRS letters after a death explains common notices and records to gather.
Practical checklist for an adult child
Use this list before you mail bonds or submit a TreasuryDirect claim:
- Find the bond or TreasuryDirect account information.
- Check the registration for co-owner, POD beneficiary, trust, or sole owner.
- Get certified copies of the death certificate.
- Confirm whether probate is open and who has authority.
- Choose the likely path: survivor claim, beneficiary claim, executor claim, or FS-5336 small-estate claim.
- Download the current Treasury form from TreasuryDirect.gov.
- Get any required signature certification.
- Make copies of every form, bond, and death certificate before mailing.
- Use trackable mail if sending paper bonds.
- Save the 1099-INT or payment record for tax filing.
If a bond is part of a larger estate, also track debts, expenses, and distributions. Sunset can generate state- and county-specific probate packets, help organize transfers, and provide an FDIC-insured estate account for estate funds. If you are serving as executor, those records can help show what came in, what was paid, and what was distributed.
FAQ
Can I cash savings bonds for a deceased parent?
Yes, if you have the right authority or entitlement. A surviving co-owner or POD beneficiary may be able to claim the bond directly. If there is no survivor or beneficiary, the executor, administrator, or a qualifying small-estate claimant may need to work through the Treasury process.
What form do I need to cash paper savings bonds after death?
FS Form 1522 is often used to request payment of paper savings bonds after death. FS Form 5336 may be used when the bonds belong to an estate being settled without court administration. The right form depends on the bond registration and whether probate is open.
How do I handle a TreasuryDirect deceased owner account?
Contact TreasuryDirect and follow its death claim instructions. You will usually need a certified death certificate and proof that you are the surviving co-owner, beneficiary, executor, administrator, trustee, or other authorized claimant.
Do savings bonds avoid probate if there is a beneficiary?
A savings bond with a valid POD beneficiary often transfers to the beneficiary outside probate. A bond with only the deceased person's name and no beneficiary usually belongs to the estate and may require probate authority or the Treasury's small-estate process.
Are inherited savings bonds taxable?
The bond principal is not usually the taxable part. The accrued interest is generally taxable for federal income tax purposes. Interest earned before death may be income in respect of a decedent, so save Treasury records and ask a tax professional if the amount is meaningful.
How Sunset can help
Savings bonds are one asset in a larger estate picture. Before you decide whether to cash, reissue, or hold them, it helps to know what else the estate owns, what debts exist, and who has authority to act.
Sunset has helped 15,000+ families settle estates. Sunset can help find accounts and assets, prepare probate packets, and organize estate funds in an FDIC-insured estate account. Get started with Sunset when you are ready to put the paperwork in order.