Open that safe deposit box. See if your bond has matured.
Did you buy U.S. Savings Bonds decades ago? Or like me, received them as gifts from your grandparents? If you do, take a look at them before April 15 rolls around. Your bonds may have matured. That means they are no longer earning interest, and it also means you need to cash them in. I was fortunate enough to catch this before it was too late. Don’t lose out on earning some interest on your bonds.
Check those maturity dates.
Sometimes people hold U.S. Savings Bonds past the date of final maturity. That’s a problem. In fact, it’s a violation of IRS statutes. If you hold these bonds after the date of final maturity, it opens the door to a possible tax penalty and/or fine for you. IRS Publication 550 states that once that savings bond passes its final maturity date, the interest accumulated over the life of the bond must be reported on that year’s federal tax return.
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