31 C.F.R. Subpart C—Book-Entry Series I Savings Bonds
Title 31 - Money and Finance: Treasury
Book-entry bonds must be purchased and held online through your New Treasury Direct account. We provide instructions for opening an account online at http://www.publicdebt.treas.gov. Book-entry bonds are issued in a minimum amount of $25, with additional increments of one cent. Book-entry bonds are sold at par value. You may only purchase book-entry Series I savings bonds online through your New Treasury Direct account. You may pay for your securities through a debit to your designated account at a United States depository financial institution, or by applying the redemption proceeds of a certificate of indebtedness held in your New Treasury Direct account. [69 FR 50308, Aug. 16, 2004] We will make payments electronically by direct deposit, using the ACH method, to your designated account at a United States depository financial institution. You may also direct that a payment be used to purchase a certificate of indebtedness to be held in your New Treasury Direct account. [69 FR 50308, Aug. 16, 2004] The issue date of a book-entry Series I savings bond is the first day of the month in which the security posts to the current holdings of the account owner. [69 FR 50308, Aug. 16, 2004] The principal amount of book-entry bonds that you may acquire in any calendar year is limited to $30,000. [68 FR 24806, May 8, 2003] (a) We include all bonds that you purchased in that calendar year. (b) Bonds purchased as gifts or in a fiduciary capacity are not included in the computation for the purchaser. (c) Bonds transferred or delivered from one New Treasury Direct account to another New Treasury Direct account are included in the computation for the recipient, unless you have become entitled to the transferred bonds due to the death of the registered owner. [68 FR 24806, May 8, 2003] We reserve the right to take any action we deem necessary to adjust the excess, including the right to remove the excess bonds from your New Treasury Direct account and refund the payment price to your bank account of record using the ACH method of payment. The TIN of each person named in the registration is required to purchase a book-entry bond. A book-entry bond is validly issued when it is posted to your New Treasury Direct account. We base current redemption values (CRV) for book-entry Series I savings bonds on the definitive savings bonds CRV. To calculate the book-entry values, we use the CRV for the $100 denomination Series I savings bonds and calculate a CRV prorated to the book-entry par investment amount for the corresponding issue and redemption dates. Calculated book-entry CRV will be rounded to the nearest one cent.5 5 Example: Calculated value of $25.044 rounds to $25.04; calculated value of $25.045 rounds to $25.05. [Book-entry par investment ÷ 100] × [CRV value for $100 bond]. (a) Redemption values. You may access redemption values for your book-entry bonds through your New Treasury Direct account. (b) Redemption penalty. Redemption values shown in your New Treasury Direct account reflect the three-month interest penalty applied to bonds redeemed prior to five years from the date of issue.
Title 31: Money and Finance: Treasury
PART 359—OFFERING OF UNITED STATES SAVINGS BONDS, SERIES I
Subpart C—Book-Entry Series I Savings Bonds
§ 359.45 How are book-entry Series I savings bonds purchased and held?
§ 359.46 What are the denominations and prices of book-entry Series I savings bonds?
§ 359.47 How is payment made for purchases of book-entry Series I savings bonds?
§ 359.48 How are redemption payments made for my redeemed book-entry Series I savings bonds?
§ 359.49 What is the issue date of a book-entry Series I savings bond?
§ 359.50 What amount of book-entry Series I savings bonds may I acquire per year?
§ 359.51 What book-entry Series I savings bonds are included in the computation?
§ 359.52 What happens if any person purchases book-entry Series I savings bonds in excess of the maximum amount?
§ 359.53 Are taxpayer identification numbers (TINs) required for registration of book-entry Series I savings bonds?
§ 359.54 When is a book-entry Series I savings bonds validly issued?
§ 359.55 How are redemption values calculated for book-entry Series I savings bonds?
§ 359.56 How can I find out what my book-entry Series I savings bonds are worth?
§§ 359.57-359.64 [Reserved]