I've got $700 face value worth of savings bonds that were bought for me when I was a kid in 1990.
I looked them up on the net with the calculator, and it says they mature in 2020.
Now, they are not hurting nothing sitting in the safe and making their 4 % or whatever interest, but the main concern I have is tax on them.
I'm fairly sure I've read that you don't claim the interest on your taxes until you cash them in, but I've also read that they automatically start reporting interest to the Fed when they mature in 2020.
I'm always forgetting I even have the damn things, so I'm afraid I'll eventually run into issues over taxes on them.
So, should I keep them until 2020, or cash them in sooner?
Oh, these are EE bonds.

Try this:

https://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eetaxconsider.htm

You can either pay tax on the interest every year, or all at once when it matures. But a 1099-INT will be issued upon maturity, so don't forget about it or you'll be in for some loving from the IRS audit department.

Yep wait till they mature. Had three that were $50 for 1976 and cashed them out last year for close to $2000. I will say wait till they mature and then if young enough wait longer cause that interest just add to it.

I thought they stopped earning interest at thirty years.

Not sure mine were past the thirty years when I cashed them in. Got for the three $2k worth. Although no clue what they were to begin with.

I think the EE's do, not sure about the other types.
And if I read right, after they mature, the interest is reported whether you cash them in or not.
I need to remember that I have them.

My wife had a bunch of them (20+) her parents bought when she was a kid, and gave to us after our wedding. I put together an excel sheet with the interest rates and maturity dates and values and calculated which ones we should cash out and use to pay off loans (I/we own 44 houses now).

Saved us money in the long run to pay the RE loans off with the cash value of the bonds. I'd recommend spending the time to analyze yours in the same manner and determine your best route.

I just looked this up today for my daughter who has similar bonds. First, you aren't making 4% - EE bonds are variable rate, and currently are earning about 1%. There is no real "maturity" - they just stop earning interest at a certain point, and the value is what it is.

Second, there are some tax advantaged ways to cash them in. Using the proceeds for educational expenses is one; I think there might be some first times homebuyer stuff as well.

Just checked my sons EE bonds from 1994 & 1995.  All earning 4%.

According to treasury direct your 1990 EE bond should also be paying 4%.

I would hold them until maturity. Tough to get a safe 4% these days.

I bought the yearly max allowable one year back in the early 90s. They were earning 6% at the time and would reach face value in 12 years. They were a variable interest rate, the rate could go up but never down if I remember correctly until they reached face value. After that I think they went to 4% and would stop earning interest at 30 years.

So, am I right in thinking they need cashed in by 2020?
What about being taxed on the interest if I forget to cash them?
Did I misread something?

When I bought them last, in the 1990s, they stopped earning interest at 30 years. You should go online to find the up to date rules.

I found one last month from 1979.  It'll probably sit for a while since im too lazy to walk in the bank.

I have a couple thousand - you send them in to treasury.gov and convert them electronically  dad gave us $50 bond every xmas until we went to college