RESEARCH CENTER

Reinvest or Redeem Treasury Notes

What you can do with your Treasury note when it matures depends on where you hold the note.

  • If you hold a note in TreasuryDirect, when the note matures you can redeem it or reinvest* it.
  • If you hold a note in Legacy Treasury Direct,** we redeem the note when it matures.
  • If you hold a note with a bank or broker, consult the bank or broker to learn your options.

TreasuryDirect

If you hold a note in TreasuryDirect, you can use the proceeds from the maturing note to buy another note. This is a reinvestment.

You can schedule a reinvestment either when you buy your original security or up to four business days before the original security matures. (Details.)

TIP: If you schedule a reinvestment of a note, we recommend this: Sometime in the eight weeks prior to the maturity date of the note-but before the last four business days--log in to your TreasuryDirect account and see whether the note will be reinvested into the type of note you want. Due to unscheduled reopenings, which occur occasionally, a 2-year note might be set to reinvest into a 5-year note, for instance. If you don't want the scheduled reinvestment, you can cancel it. See "To cancel a reinvestment" below.

If you don't schedule a reinvestment when you buy your note, then decide later you want to reinvest, here's how to do it:

  • Log in to TreasuryDirect
  • Click the "ManageDirect" tab near the top of the page
  • Find the heading "Manage My Securities"
  • Click "Schedule reinvestments"
  • Proceed

Once you schedule a reinvestment, you can cancel it until four business days before your original security matures.

To cancel a reinvestment:

  • Log in to TreasuryDirect
  • Click the "ManageDirect" tab near the top of the page
  • Find the heading "Manage My Securities"
  • Click "Edit reinvestments"
  • Proceed

Redeem

To redeem your bills, notes, bonds, or TIPS, you don't need to take action. If you do not provide instructions to deposit the security's proceeds into your C of I, it will be deposited into your designated bank account. The deposit is made on the day your security matures.

Legacy Treasury Direct**

Reinvest

We are phasing out Legacy Treasury Direct and no longer allow reinvestments in that system.

Redeem

To redeem your note, you don't need to take action. On the day the security matures, we deposit its proceeds into your bank account.

*Some 10-year notes are reopenings of previously issued securities. If you buy or reinvest into a reopened note, you may owe accrued interest and a premium. The offering announcement press release will show the accrued interest per $1,000. We automatically collect the total amount due. For more information, Notes Rates and Terms.

**Legacy Treasury Direct is being phased out.