View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE BANK OF DALLAS
F IS C A L A G E N T O F T H E U N IT E D S T A T E S

Dallas, Texas, December 31, 1962

INCLUSION OF TAX ACCOUNT NUMBERS
ON SERIES H SAVINGS BONDS

To All Banking Institutions and Others Concerned
in the Eleventh Federal Reserve District:

The Treasury D epartm ent has informed us th at an amendm ent to Treasury D epartm ent
Circular No. 905 is being prepared to provide for the obtaining of the owner’s Social Security
num ber or Em ployer Identification num ber on Series H bonds purchased or reissued after
January 1, 1963. This action is being taken in view of the recently enacted legislation amending
the Internal Revenue Code of 1954, which requires th at dividend and interest payers obtain tax
account numbers of their shareholders or depositors and use them on information documents
subm itted to the Internal Revenue Service.
The letter received from the T reasury D epartm ent is quoted in part as follows:
Series H Savings Bonds issued with January 1963 and subsequent dates should
include adjacent to the registration the owner’s (first-named if coownership form )
own Social Security num ber if an individual, or th at of the ward, minor, incompetent,
etc., if purchased by a designated guardian, committee, etc. In the case of trusts held
by an individual or trustee and estates of decedents administered by an individual,
the Social Security num ber of the trustee, executor or adm inistrator would also be
required.
In the case of bonds registered in the name of a trust or estate where a corpora­
tion is trustee, executor or administrator, and in the case of bonds registered in the
name of a corporation, partnership, etc., the Em ployer Identification num ber should
be used.
To enable this bank to issue Series H Savings Bonds in conformity with the Treasury’s
requirements, commercial banks and others assisting individuals in the completion of applica­
tions for purchases, reissues and exchanges involving Series H bonds are requested to inform
the individuals of the need for including the tax account num ber on the applications.
New application forms for Series H bonds are in the process of preparation and will provide
for the insertion of the Social Security or Em ployer Identification number. Until such time as
the new forms become available, please continue using the application forms you now have
and include the tax account num ber of the owner of the new bond as part of the inscription.
Yours very truly,

W atrous H. Irons
President

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102