I-Bond Interest for 2023

There is no 1099-INT for 2023 for my I-bond account. Should I be paying taxes annually? BTW, sent an e-mail to Treasury Direct. Response stated “they” are not responding to e-mail due to volume, even though “they” offer that as an option. Thank you for your suggestions/comments.

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If you didn’t redeem any in 2023, there is no tax, no 1099.


The I-bonds can be left alone for 30 years to accrue interest. I think in year 30, the I-bonds are cashed out automatically though. Look at the list of the I-bonds you bought on Treasury Direct. It will indicate when you bought the I-bond. If you bought one in 2022, it will mature in 2052. One bought in in 2023 will mature in 2053. Etc.

If you bought Treasury bills or notes or bonds ( different from I-bonds), Treasury Direct will generate a 1099-INT for that. I got one on Treasury Direct by the way. A big $63 in interest for 2023, lol.

If you are curious, the current I-bond rates are better fixed rates now than the previous years since 2007. What I may do, and probably will actually, is sell my current inventory of I-bonds and create an interest taxable event and re-purchase the newest I-bond at the higher fixed rate. The current 1.30% fixed rate will be locked in for any I-bonds that I purchase between now and late April 2024. The way I-bonds work, that 1.30% is worth taking a tax hit on selling the I-bonds now. The I-bonds I currently have are at a fixed rate mostly at 0% and some at 0.40% and a few at 0.90%. That increased fixed rate amount will be about 3 months of I-bond ownership, and in years down the road, it would be better to have at least a 1.30% floor on I-bond rate than 0% if I plan on holding them for a good number of years.

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I have been dealing with. treasury Direct quite a bit lately due to an inheritance of I-Bonds and moving them, then, to our two Living Trusts. They are about 20 or more weeks behind in replying, but they DO reply. I’ve learned to have a LOT of patience!


None of my local banks will redeem I bonds. I found one I don’t use that said they will redeem bonds less than $1000. I read at T Direct that to redeem them there I’d have to print their form and get it notarized then send it regular mail. Given past dealings with this group, I have little faith in them. Do you know of an alternate method of cashing them in?

Back when interest rates spiked, there was big demand for I-Bond purchases so service time took longer. I converted my paper bonds back then – it took a while but it went fine otherwise.