31 C.F.R. Subpart C—Book-Entry Savings Bonds Purchased Through TreasuryDirect
Title 31 - Money and Finance: Treasury
This subpart governs: (a) Series EE and Series I book-entry savings bonds that were originally issued as book-entry bonds through TreasuryDirect®; and (b) Converted savings bonds that are registered in: (1) The single owner form of registration of any series, (2) The owner with beneficiary form of registration of Series EE and Series I savings bonds, (3) The owner with beneficiary form of registration of Series E savings bonds in which the beneficiary has consented to a change in the registration of the bond after conversion, and (4) The coowner form of registration of any series in which the non-converting coowner has consented to a change in the registration of the bond after conversion. [70 FR 14943, Mar. 23, 2005]
Title 31: Money and Finance: Treasury
PART 363—REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT
Subpart C—Book-Entry Savings Bonds Purchased Through TreasuryDirect
General
§ 363.50 What Treasury securities does this subpart govern?
§ 363.51 [Reserved]
§ 363.52 What amount of book-entry Series EE and I savings bonds may I purchase in one year?
(a) Purchase limitation. The amount of bonds that you may purchase in any calendar year is limited to $30,000 for Series EE savings bonds, and $30,000 for Series I savings bonds.
(b) Computation of amount for gifts. Bonds purchased or transferred as gifts will be included in the computation of the purchase limitation for the account of the recipient for the year in which the bonds are delivered to the recipient.
[67 FR 64286, Oct. 17, 2002, as amended at 68 FR 24807, May 8, 2003]
§ 363.53 What is the minimum amount of book-entry savings bonds that I may purchase in any transaction?
Each bond purchase must be in a minimum amount of $25, with additional one-cent increments above that amount, in any one transaction. For example, a purchase may be $25.00, $25.01, $25.02, or $25.03, and so forth.
§ 363.54 What is the minimum amount of a book-entry savings bond that I must hold in my account?
Each bond held in your account must have a redemption value of at least $25. If you request a transaction that would reduce the remaining redemption value of the bond to an amount less than $25, we will not permit the transaction to occur.
§ 363.55 May I transfer my book-entry savings bonds to another person?
(a) You may transfer a savings bond or a portion of a savings bond to the TreasuryDirect®; account of another individual in a minimum amount of $25. The transfer may only be made as a gift or in response to a final judgment, court order, divorce decree, or property settlement agreement. You must certify online that the transfer is a gift or a specified exception.
(b) We do not permit the transfer of savings bonds for consideration, unless it is an exception specified in paragraph (a) of this section.
(c) The bond will be transferred in the single owner form of registration.
(d) We reserve the right to limit the transferability of savings bonds at any time by amendment to these regulations.
[67 FR 64286, Oct. 17, 2002, as amended at 68 FR 24807, May 8, 2003; 70 FR 57436, Sept. 30, 2005]
§ 363.56 What is the minimum amount of book-entry savings bonds that I may transfer in any one transaction?
Each transfer must be in a minimum amount of $25 redemption value, with additional one-cent increments above that amount, in any one transaction. For example, you may transfer $25.00, $25.01, $25.02, or $25.03, and so forth. Transfers will be comprised of principal and proportionate interest.
§ 363.57 What is the minimum amount of book-entry savings bonds that I may redeem in any one transaction?
Each redemption must be in a minimum amount of $25 redemption value, with additional one-cent increments above that amount, in any one transaction. For example, you may redeem $25.00, $25.01, $25.02, or $25.03, and so forth. Redemptions will be comprised of principal and proportionate interest.
§ 363.58 May book-entry savings bonds be pledged or used as collateral?
Bonds may not be pledged or used as collateral for the performance of an obligation.
§§ 363.59-363.82 [Reserved]
§ 363.83 May an account owner transfer a book-entry savings bond to a minor?
An account owner may transfer a bond to a minor as a gift or pursuant to one of the specified exceptions in §363.55(a).
§§ 363.84-363.94 [Reserved]
Gifts
§ 363.95 How may I give a book-entry savings bond as a gift?
You may give a book-entry savings bond as a gift in two ways:
(a) You may purchase a bond online as a gift; or
(b) You may transfer a bond that you own to another person as a gift with immediate delivery.
[67 FR 64286, Oct. 17, 2002, as amended at 68 FR 24807, May 8, 2003; 70 FR 57437, Sept. 30, 2005]
§ 363.96 What do I need to know if I initially purchase a bond as a gift?
(a) The gift bond will be registered in the name of the recipient(s). The registration is irrevocable with regard to the owner named on the gift bond.
(b) You must provide the SSN of the recipient.
(c) You may deliver the bond upon purchase, or you may hold the bond in your TreasuryDirect® account until you are ready to deliver the bond to the owner named on the gift bond.
(d) If the purchaser dies before delivering a gift bond to the recipient, the bond belongs to the owner named on the gift bond, notwithstanding any testamentary attempts to the contrary by the purchaser, or any state law to the contrary. We will hold the bond until we receive instructions from the owner named on the gift bond.
[67 FR 64286, Oct. 17, 2002, as amended at 69 FR 2508, Jan. 16, 2004]
§ 363.97 What do I need to know if I transfer a book-entry savings bond to another person as a gift?
(a) You must certify online that the transfer is a gift.
(b) You must provide the SSN of the recipient.
(c) Once the transfer is made, the gift is irrevocable.
(d) The bond will be transferred in the single owner form of registration to the recipient.
§ 363.98 [Reserved]
§ 363.99 What is the minimum amount of a bond that I may transfer or deliver as a gift in any one transaction?
You may transfer or deliver gift bonds in any one-cent increment value equal to or greater than $25.00 redemption value. For example, you may deliver a gift bond with a redemption value of $25.00, $25.01, $25.02, and so forth. If the bond was held in your account prior to delivery to the recipient for a period of time and has accrued interest, the delivery will include principal and proportionate interest.
§ 363.100 What are the rules for purchasing and delivering gift savings bonds to minors?
(a) A TreasuryDirect® account owner can purchase a savings bond as a gift with a minor as the recipient.
(b) An account owner can deliver a bond purchased as a gift to a minor. The account owner must deliver the security to the minor's linked account. Once delivered, the bond will be under the control of the custodian of the minor's account. (See §363.27.)
[70 FR 57444, Sept. 30, 2005]
§ 363.101 Can an account owner transfer a book-entry savings bond to a minor?
An account owner can transfer a book-entry savings bond held in TreasuryDirect® to a minor as a gift or pursuant to one of the specified exceptions in §363.55(a).
[70 FR 57444, Sept. 30, 2005]
§§ 363.102-363.124 [Reserved]
Payment
§ 363.125 How is payment made on a book-entry savings bond?
We will make payment by the ACH method to the designated account at a United States depository financial institution.
§ 363.126 Under what circumstances will payment be made?
We will make payment:
(a) Upon your request for redemption prior to maturity;
(b) When the bond reaches final maturity; and
(c) If a person who becomes entitled to the bond is unable, unwilling or ineligible to open a TreasuryDirect® account.
