The U. Treasury doesn't much care if you hang onto a savings bond after it reaches final maturity. On the other hand, final maturity is very important to the Internal Revenue Service.
Dear Dr. Don, I own three Series EE savings bonds with the following purchase dates and face value amounts:. Dear Suzanne, Series EE savings bonds issued in the s and early s have an original maturity of 20 years, and an extended maturity of 10 years, for a total of 30 years until the final maturity of the bonds.
When purchasing U. Treasury bonds, you may have wondered why Series EE savings bonds mature on different dates. For example, the U.
Series EE savings bonds are issued with a cost that is one-half the face amount. The U. Treasury guarantees that your bond will double in value to reach face value after 20 years. If it's under face value at this point, the Treasury will perform a financial adjustment to bring it up to the maturity amount.
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There was a time when millions of dollars of U. Savings bonds were sold in June - for graduation gifts, for wedding gifts, and just because of the patriotic feelings on the Fourth of July. Those days are long gone.
Let friends in your social network know what you are reading about. Ever buy a child a U. It could be time to nudge somethings or somethings to see if they cashed their bonds.
For many years, U. Savings Bonds were an attractive, simple way for Americans to save money for the future or to provide meaningful gifts to grandchildren. Not any more.
Some Series EE bonds have total interest-paying lives that extend beyond the original maturity date, up to 30 years from issuance. Coupon rates are determined based on the percentage of the long-term Treasury rates, at the time of issuance. Series EE bonds are often referred to as "Patriot Bonds".