Tax-deferred rollovers of EE to I Savings Bonds

Thursday, February 10th, 2005
Categorized as: Savings Bond taxesSeries EE US Savings BondsSeries I US Savings Bonds

Can EE savings bonds be converted to I bonds without having to pay taxes on the interest earned? Is there any way to rollover EE bonds into something else and not pay tax on the earnings of the EE bonds?

Tom’s response

The only way to move your money between Series EE and Series I bonds is to redeem one and purchase the other. This always creates a taxable event.

Now that HH bonds aren’t available, there’s no longer any way to continue tax-deferment after a Savings Bond reaches final maturity and stops paying interest. No rollovers, no sign-overs, no do-overs.

You know that saying about death and taxes? Meet taxes.

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FDIC Insured Certificates of Deposit can pay 1 or 2% more than savings bonds when held for a similar length of time. See top CD Rates Below:


On October 14th, 2008 Shirley said:

With the way the market is why doesn’t the goverment give a break to those of us that have EE bonds that is no longer earning intrest. I am in my sixty and is waiting until I don’t have to pay so much taxes

On October 15th, 2008 Tom Adams said:

Hi Shirley – have you written your Congressional Representative about this?

Most of what happens in Washington happens because of lobbyists, and Savings Bonds holders have none. So we are always at the end of the line.

Tom Adams

On October 17th, 2008 Jim said:

Shirley – you are losing money by not receiving any interest on those EE Bonds. It may more than taxes, especially if your tax rate is low. You may wish to sell at least some and reinvest in I Bonds at these present rates.

On October 22nd, 2008 Gary said:

If the bonds have reached final maturity and are no longer earning interest, then you owed the income tax on accumulated interest in the year they reached final maturity. Delaying redemption of bonds past final maturity doesn’t delay the tax liability.

On November 19th, 2009 GayNell Palmisano said:

Can you use the ee bonds to educate your self after retirement and take classes you always wanted to take but couldn’t. What about fun stuff like the art of salmon fishing in alaska?

On November 19th, 2009 Tom Adams said:

GayNell – You can use the deduction for your own college tuition (some college somewhere must offer that course, but you can’t deduct travel expenses) if you can meet the many other limitation of the deduction.

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June 1, 2010

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Virtually every question about Savings Bonds has been asked and answered on this site multiple times. Use the search feature (see the box in the gray area near the top of this page) or the detailed menu on the lower part of the home page to find the information you're looking for. If you have a copy of Savings Bond Advisor, you can ask me a question here.

Tom Adams

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