In 1935, President Franklin Roosevelt authorized the United States Department of the Treasury to issue savings bonds. They are commonly used as a secure investment since they are backed up by the government credit; this means that investors will have full assurance to receive their money.
In general, these bonds help to finance the borrowing needs of the government; because of this reason, the Department of the Treasury is the only institution authorized to issue them through banks and credit unions.
If you have one of these bonds, it is very easy to check if it has been cashed; in this article, we will explain 5 different ways to do it.
Savings bond issue date
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Currently, millions of citizens have savings bonds that have not been cashed; therefore, millions of dollars are floating throughout the country. However, if you have one in your possession and want to know if it has been cashed, you must know its issue date first.
Also, there are ways that you can check if a personal check has been cashed or not, and the quickest way to do it is to check your online bank account. You can look at your monetary status, or even contact your bank for more information about it, but this is not the only thing you have to look for, you should also know where can I cash a check.
But back to savings bonds, the reason is that you can only check online the status of the bonds that were issued after 1974; if it is older than that, you will have to contact The Department of the Treasury directly, by sending a letter or email.
Once you confirm this information, you can try with one of the next options.
➡ READ ALSO: How to cash a savings bond in someone else’s name
How to check if a savings bond was cashed
Online
The Department of the Treasury allow us to verify this information through their official website; but before starting the research, you must know the following information:
- Serial number of the bond.
- Date of issue.
- Nominal value of the bond.
- And your Social Security Number (SSN) or Employer Identification Number (EIN).
The first step is to visit the Treasury Direct official website and go to the Treasury Hunt tool. Then, click on the “Start Search” blue button.
Then you will be required to enter the SSN or EIN. By clicking the “search” button, detailed information related to the bond will automatically appear on your screen. If the portal does not find a match with the SSN or EIN, it will inform you that there is no information available.
Generally, the person whose name is written on the bond is the only authorized to cash it. However, if you know the SSN or the EIN, you can verify if it has already been cashed.
Send an email
If you could not obtain information using the Treasury Hunt tool, it is possible to check the status of your savings bond by sending an email. The message cannot exceed 5000 characters, and once it has been sent, the department will be able to look up the information in its records.
Submit a written request
In case it is more convenient for you to use the postal service, you can send a written letter to the Department of the Treasury requesting a manual verification of your bond’s status.
When writing the letter, we recommend you to put your full name, address, SSN or EIN, the bond’s nominal value, serial number, and issue date. If the owner of the bond has already died and you are authorized to cash it, you must also send a copy of the death certificate.
Do not forget to write your signature on the letter.
Call The Department of the Treasury
On the other hand, for more specific cases, you can dial this number: 844-284-2676, and request information. You will have to provide the bond’s serial number, issue date, and nominal value.
Destroyed, lost, and stolen savings bond
In this case, you can also request information about whether your savings bond has already been cashed or if you can still collect it.
The only thing you need to do is file the Form 1048 “Claim for Lost, Stolen, or Destroyed United States Savings Bonds”; and send it to The Department of the Treasury. By clicking here, you can download the form with the necessary instructions to complete it.
Do not forget to write your signature on the letter.
