Regulations last checked for updates: Nov 22, 2024
Title 31 - Money and Finance: Treasury last revised: Nov 18, 2024
§ 359.45 - How are book-entry Series I savings bonds purchased and held?
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.fiscal.treasury.gov.
§ 359.46 - What are the denominations and prices of book-entry Series I savings bonds?
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.
§ 359.47 - How is payment made for purchases of book-entry Series I savings bonds?
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]
§ 359.48 - How are redemption payments made for my redeemed book-entry Series I savings bonds?
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]
§ 359.49 - What is the issue date of a book-entry Series I savings bond?
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]
§ 359.50 - What amount of book-entry Series I savings bonds may I acquire per year?
The principal amount of book-entry Series I savings bonds that you may acquire in any calendar year is provided at § 363.52.
[77 FR 213, Jan. 4, 2012]
§§ 359.51-359.52 - §[Reserved]
§ 359.53 - Are taxpayer identification numbers (TINs) required for registration of book-entry Series I savings bonds?
The TIN of each person named in the registration is required to purchase a book-entry bond.
§ 359.54 - When is a book-entry Series I savings bonds validly issued?
A book-entry bond is validly issued when it is posted to your New Treasury Direct account.
§ 359.55 - How are redemption values calculated for book-entry Series I savings bonds?
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.
4
The formula is as follows (Examples of the calculation are given in appendix A to part 359.):
4 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].
[67 FR 64278, Oct. 17, 2002, as amended at 75 FR 52461, Aug. 26, 2010]
§ 359.56 - How can I find out what my book-entry Series I savings bonds are worth?
(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.
§§ 359.57-359.64 - §[Reserved]
source: 67 FR 64278, Oct. 17, 2002, unless otherwise noted.
cite as: 31 CFR 359.47