Learn More About Converting Your Paper Bonds
Convert your paper savings bonds and hold them conveniently in your TreasuryDirect account!.
Individual Accounts: You may convert Series E, EE, and I bonds registered in your name alone, and in your name with a co-owner or beneficiary (POD).
With a few exceptions, you'll have the same flexibility with converted bonds as you have with securities bought in TreasuryDirect. The following rules apply:
- The co-owner who converts a bond may not remove the name of the other co-owner without his/her written consent
- The owner who converts a bond may grant View or Transact rights for the security to the other co-owner, however, once rights are granted, they may not be revoked
- The owner of a Series E bond with a beneficiary may not remove the name of the beneficiary without his/her written consent
- The owner of a Series E bond with a beneficiary may grant View rights for the security to the beneficiary, however, once rights are granted, they may not be revoked
When you convert a bond that has reached final maturity, TreasuryDirect will automatically redeem it and purchase a Zero-Percent Certificate of Indebtedness (C of I) in your Primary account. The interest earned is reported to IRS for that tax year.
For detailed instructions to convert paper bonds in an individual account, see How to Convert My Paper Bonds.
Note: You may convert your paper savings bonds through SmartExchange® when the link "Establish a Conversion Linked Account" appears in the "Manage My Linked Accounts" section on the ManageDirect® page in your primary account. Clicking on the link will provide access to this page.
Entity Accounts: Account Managers for certain entities may open accounts and convert bonds in TreasuryDirect. See Learn more about Entity Accounts. Since all securities in an entity account carry a registration identical to the entity account name, all bonds converted will be registered in that form, regardless of the registration on the paper bonds. If the submitted bonds are not registered in the name of the entity, documentary evidence may be required to support the transaction.
When a bond that has reached final maturity is converted, TreasuryDirect will automatically redeem it and purchase a Zero-Percent Certificate of Indebtedness (C of I) in the entity’s Primary account. The interest earned is reported to IRS for that tax year.
For detailed instructions to convert paper bonds in an entity account, see How to Convert My Paper Bonds.
Note: The Account Manager for an entity may convert paper savings bonds through SmartExchange when the link "Establish a Conversion Linked Account" appears in the "Manage My Linked Accounts" section on the ManageDirect page in the Primary account. Clicking on the link will provide access to this page.