Reinvestments are one of those features worth setting up from the start. Rather than having your maturity proceeds land somewhere and sit, you can have TreasuryDirect roll them straight into a new security. Here’s how that works inside TreasuryViewer.
The simplest way to schedule a reinvestment is while you’re still on the purchase screen. For any marketable security — Bills, Notes, Bonds, TIPS, FRNs — tap Additional Options to reveal a few extra settings, one of which is Reinvestments.
Tapping that opens a small pop-up. Most security types give you a binary choice: No or Yes. Bills are a bit different, since they can be rolled over for up to two years, so you’ll see numbered options: None, 1 times, 2 times, and so on up the chain. Select what you want, confirm, and the setting gets attached to the order before you tap Buy.
Once the order goes through, that reinvestment count is locked in at TreasuryDirect.
To see what reinvestment count is on an order you’ve already placed, go to the Buy tab and tap Manage Orders in the top right corner. Pull up the order in question and you’ll find a Number of Reinvestments row in the details card.
That screen is view-only, though — nothing there is editable. If the count is wrong and you need to fix it, the path forward is canceling the order via the red Cancel Order button and submitting a new one with the right setting. TreasuryDirect does have cutoff windows for cancellations, so this is time-sensitive if your purchase date is approaching.
How the rollover actually works: When your security matures, TreasuryDirect automatically enters a purchase into the next available auction for the same type and term. Once that settles, it shows up in your portfolio like any other holding.
What happens if there’s no matching auction: If no auction has an issue date that lines up with your maturity date, TreasuryDirect cancels the reinvestment and sends the proceeds to whatever account you set as the maturity payment destination on the original order.
What happens if additional funds are needed: Auction pricing can mean the reinvestment costs a bit more than your proceeds cover. If that happens, TreasuryDirect pulls from your primary linked bank account. No funds there? The reinvestment gets cancelled and the money goes to your C of I balance instead.
Annual purchase limits don’t apply to reinvested securities. Rolling over doesn’t count against your yearly cap, so that’s not something you need to plan around.
Editing or canceling a specific reinvestment — as opposed to canceling the whole original order — isn’t available in the app right now. For that, you’d need to go directly to ManageDirect on the TreasuryDirect website.
Reinvesting a maturing Treasury security means the proceeds roll automatically into a new security of the same type — no action needed on your end. Here’s how the whole process works inside TreasuryDirect.
The simplest time to schedule a reinvestment is during your initial purchase. The BuyDirect page has a “Schedule Reinvestment” section — fill it out before you finalize the order and you’re done.
How many reinvestments you can schedule varies by security type:
When a bill matures, the proceeds go into the next available security matching the original type and term. Notes and bonds follow a slightly different rule: the reinvestment matches the type and term tied to that security’s original CUSIP number. This distinction matters if you bought a reopened security:
If you already hold a security with no reinvestment scheduled, you can add one at any time through ManageDirect using the Schedule Reinvestments link. Need to change or cancel an existing one? Use the Edit Reinvestments link.
One timing caveat: once a security enters its closed book period — or once the noncompetitive bid window for the replacement security closes, whichever comes first — that’s it. No more scheduling, editing, or canceling.
Note: If no matching security exists with an issue date that aligns with your maturing security’s maturity date, TreasuryDirect will cancel the reinvestment and send the proceeds to your designated maturity payment destination.
Also worth knowing: standard purchase limits don’t apply to securities acquired through reinvestment.
After the replacement security goes to auction, the confirmed price shows up under Pending Purchases and Reinvestments in ManageDirect.
For TIPS or Floating Rate Notes (FRNs), negative yields or spreads can occur, which means the purchase price may come in above par.
Sometimes you’ll owe additional funds at the time of reinvestment — this can happen when accrued interest is being charged or when backup withholding reduced the amount coming from the maturing security. In those cases:
If the funds at the designated source aren’t sufficient to cover what’s owed, the reinvestment gets canceled and the maturing proceeds are deposited into your C of I.
If the maturing proceeds don’t fully cover the new security and additional funds had to be pulled in, a 45-calendar-day holding period kicks in before you can transfer it. If the security’s term is shorter than 45 days, the restriction lasts the full length of the term.
Moving a security with a reinvestment attached has different consequences depending on how you transfer it: