SEPTEMBER 26, 2010.

Time to Cash '80s EE Bonds

By EMILY GLAZER

The Series EE U.S. savings bond turns 30 this year.

And any EE bonds issued in 1980 will stop earning interest this year -- in the month they turn 30 to be exact.

If you own any such bonds, you can calculate their current value using a tool on TreasuryDirect.gov. You'll need the bond series, denomination, serial number and issue date.

A $50 bond issued in August 1980, which sold for $25, is now worth $167.40.

To cash in your 1980-issued bonds, you can go to your local bank. Most banks will give you money on the same day if you're an account holder. Be sure to take a picture ID and a copy of the value you calculated on the TreasuryDirect site to make sure the bank's calculations are accurate.

If you're cashing in bonds whose original owner has died, you may need to mail them in to the Bureau of Public Debt. But you must first sign the bonds in the presence of a certifying officer at a bank. The transaction typically takes five business days. TreasuryDirect.gov has the necessary forms.

You'll have to pay taxes on the interest income -- the rate depends on your tax bracket. Come January, you'll receive a statement from your bank for tax-filing purposes.

The Series EE bonds issued Jan. 1, 1980 initially had a 7% annual yield; it was raised to 8% on Nov. 1, 1980.

Write to Emily Glazer at emily.glazer@wsj.com

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