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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 D A L L A S .T E X A S 75222 Circular No. 73-19 January 2 k , 1973 To All Qualified Issuing Agents for United States Savings Bonds in the Eleventh Federal Reserve District: The Treasury Department recently forwarded institution a letter concerning the requirement that agents include the social security account number of or first-named coowner on all Series E savings bonds dates of October 1, 19739 or later. to your issuing the owner with issue For your further information and guidance there are enclosed a press release concerning the requirement, and Form PD ^182 containing instructions to issuing agents for placing social security account numbers on United States Savings Bonds of Series E and related registration stubs. Your attention is directed to the provisions under the caption "Employer Identification Number" on the back of the in struction sheet. The requirements therein for fiduciaries’ em ployer identification numbers is erroneous and would not change the provisions of section 315.7(b)(l)(i) of Treasury Department Circular No. 530. Guardians and similar representatives of estates of minors, incompetents, etc. would not have employer identification numbers. When forwarding an application for pur chase of such bonds to this Bank or branches, the application must show the social security account number of the ward. If additional copies of the press release and instruc tion sheet are needed, or if you have any questions concerning the requirement, please let us know. Your cooperation in carrying out this change will be appreciated. FEDERAL RESERVE BANK OF DALLAS Fiscal Agent of the United States Enclosures This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) UNITED STATES DEPARTMENT OF THE TREASURY F i s c a l Servic e Bureau of th e P u b l i c Debt Washington, D. C. 20226 INSTRUCTIONS TO ISSUING AGENTS FOR PLACING SOCIAL SECURITY ACCOUNT NUMBERS ON U. S. SAVINGS BONDS, SERIES E, AND R E L A T E D REGISTRATION STUBS. GENERAL PURPOSE Issuing agents must inscribe the s o c i a l secu rity account number of the registered owner or the first-named coowner on a ll S eries E bonds bearing is s u e dates of October 1, 1973, and thereafter, and on the related registration stubs (or magnetic tape), in accordance with the requirements prescribed in th e se instructions. The number w ill be used by the Treasury in maintaining ownership records for th e se s e c u r it ie s . SOCIAL SECURITY ACCOUNT NUMBERS Each s o c i a l secu rity account number is made up of nine d ig it s , and is written in the follow ing manner: 0 0 0 - 0 0 - 0 0 0 0 (including hyphens). INDIVIDUAL WHOSE NUMBER IS REQUIRED (NATURAL PERSONS ONLY) Single owner form of registration - The registered owner’s s o c i a l secu rity account number. Coownership form of registration - The s o c i a l se cu rity account number of the first-named coowner. The account number of the second-named coow'ner is not mandatory, but it is highly desirable to have it if it can be readily obtained without unduly d elaying is s u a n c e . B eneficiary form of registration - The registered owner's s o c i a l secu rity account number. The account number of the beneficiary is not mandatory, but it is highly desirable to have it if it can be readily obtained without unduly delaying issuance. Gift bonds (in clu des awards, p riz es, e tc .) purchased over-the-counter — If registered owner’ s account number known The s o c i a l security account number of the registered owner or first-named coowner must be shown on bonds purchased as gifts if the number is available to the purchaser. If registered owner's account number is not known If the registered owner's account number i s not known, the purchaser's s o c ia l secu rity account number must be used to identify the bond. When the purchaser's number i s u sed , the is s u in g agent must inscribe the word “ G IFT " immediately above the bond in scription to p lace the Department of the Treasury on notice that the number furnished i s not that of the registered owner. In t h e s e c a s e s the bond w ill not be a s s o c ia t e d in any way with the bonds owned by the purchaser. Courtesy t it l e s for women - The sa v in g s bond regulations presently require that if bonds are registered in the names of women the appropriate courtesy t itle " M iss” or "Mrs.” must be shown u n le s s some other ap plicable title or designation i s used. If a woman i s named as registered owner or first-named coowner, her s o c ia l secu rity account number w ill provide adequate identification; con sequ en tly, no courtesy t itle need be furnished. The title for a fem ale registrant d esign ated as second-named coowner or beneficiary need not be required if her s o c ia l security account number i s provided. If requested, both title and number may be inscrib ed. The title "Ms" may be included, on request, if the s o c ia l security account number i s provided. POSITION OF NUMBERS ON BONDS AND STUBS Inscriptions must alw ays commence im mediately to the right of the word " T o ” printed on the bonds and in the same relative position on stub s when the latter are inscribed in a separate operation. S ocia l secu rity account numbers should be recorded as indicated below (zeros and on es are used to in dicate s o c ia l security account numbers and x 's indicate zip cod e numbers): P R EF ER R ED METHOD ALTERNATIVE METHOD (1st digit — 2 sp a c e s after surname) (1st digit over 4th letter o f first name) Single owner form of registration 0 0 0 -00-0000 John M. Doe 200 Main Street City, State xxxxx John M. Doe 0 0 0 - 0 0 - 0 0 0 0 200 Main Street City, State xxxxx (Continued on reverse) Form PD 4182 - D E P A R T M E N T OF T H E TR E A S U R Y - Bureau of the Public Debt POSITION OF NUMBERS ON BONDS AND STUBS (Cont.) ALTERNATIVE METHOD P R EFER R ED METHOD (1 st digit — 2 sp a c e s after surname) (1st digit over 4th letter of first name) Coownership foirm of registration 000-00-0000 John M. Doe 200 Main Street City, State xxxxx John M. Doe 0 0 0 - 0 0 - 0 0 0 0 200 Main Street City, State xxxxx or Jane M. Doe 111-11-1111 or Jane M. Doe 111-11-1111 B eneficiary form of registration John M. Doe 0 0 0 - 0 0 - 0 0 0 0 200 Main Street City, State xxxxx POD Jane M. Doe 1 1 1 - 1 1 - 1 1 1 1 000-00-0000 J ohn M. Doe 200 Main Street City, State xxxxx POD Jane M. Doe 111-11-1111 A combination of any preferred and related alternative method of placing s o c ia l security account numbers on bonds and stubs in accordance with t h e s e instructions may be u sed, if the limitations of the equipment used for inscribing purposes make it n e ce ssa r y . In the above illustration s, the double spacin g between the “ City —State —Zip C ode” line and the name of the coowner is to insure that the zip code number will appear on the la st readable line when a window en v elo pe is used for mailing bonds. Agents not using window en v elo p e s for mailing bonds may u se sin g le spacing. Issu in g agents now placing s o c ia l secu rity account numbers on bonds and stubs in p o sition s other than those s p e c ified herein may continue to do so . It i s requested, however, that the above in structions be follow ed when new inscriptions are prepared or ch an ges are made in ex istin g on es. Purchaser numbers - In payroll s a v in g s or similar plans where the purchaser authorizes the is s u a n c e of a bond on which his name d o es not appear in the inscription, the s o c ia l secu rity account number of the registered owner or firstnamed coowner must be shown in accordance with th e s e in structions. Em ployees having bonds inscribed in the names of children or others should r e a liz e the importance of providing the account numbers of the registered owners, s in c e the re g is tration records w ill be es ta b lish e d on the b a s is of t h e s e numbers. The em p loyee’s (purchaser’s) s o c ia l secu rity account number may a lso be shown on the bond, but not in either the preferred or alternative lo c a tio n s, as illustrated in th e se instructions, or in the zip code area. EMPLOYER IDENTIFICATION NUMBER Employer id en tification numbers, which are obtainable from the Internal Revenue S ervice, must be in scribed on bonds registered in the names of organizations and fidu ciaries. T h e s e numbers are made up of nine d igits and are written in the follow ing manner: 0 0 - 0 0 0 0 0 0 0 (include the hyphen). When forwarding purchase ap plications for such bonds to Federal R eserve Banks and Branches and the Office of the Treasurer, U . S . , which are the only a g e n c ie s authorized to is s u e bonds in the names of organizations and fidu ciaries, is s u in g agents must include on such applications the owner’s employer id entification number. EFFECTIVE DATE Although October 1, 1973, i s the effec tiv e date for requiring the s o c ia l security account numbers, iss u in g agents are urged to change payroll i s s u e s to include su ch numbers a s exp ed itio u sly as p o s s ib le . F in a n c ia l in stitu tions iss u in g bonds on over-the-counter s a l e s should begin im mediately to in scribe the numbers on the bonds, whenever they can be obtained. QUESTIONS Q u e s t i o n s regarding t h e s e in s tr u c ti o n s s h o u ld b e d ir e c te d to th e F e d e r a l R e s e r v e B an k or B ranch to w hich th e i s s u i n g ag en t reports i t s s a l e s of E b o n d s . G P O : 1972 O - 49 1 -9 5 1 Department WASHINGTON. D C. 2 0 2 2 0 of theTREASURY TELEPHONE W 0 4 - 2 0 4 1 FOR IMMEDIATE RELEASE December 26, 1972 REQUIREMENT FGR INSCRIBING SOCIAL SECURITY ACCOUNT NUMBERS ON SERIES E SAVINGS BONDS The T reasu ry will require issuing agents to include the social security account number of the owner or first-nam ed coowner on all Series E savings bonds with issue dates of October 1, 1973, or later. This requirem ent will make possible a more efficient record-keeping system . The present E bond reg istratio n record s, which now extend to some 3.4 billion bonds and are expanding at a rateof 130 million item s a year, are based on the ow ners’ names and addresses,, The sim ilarity of names and multiple changes of address often hamper the identification of bond holdings and the expeditious processing of requests for information or claim s for the replacem ent of lost, stolen or destroyed bonds. A systom of reco rds based on account numbers will be m ore precise and, as a result, owners will benefit from more timely and accurate servicing of th eir inquiries and claim s. The record-keeping system will also make less cumbersome the reporting to the Internal Revenue Service of in terest paid when bonds are redeem ed. The requirem ent for obtaining the social security number of the owner will bring Series E savings bonds into line with the requirem ents now in effect for savings accounts with financial institutions and all other reg istered bonds - - those issued by the Government as well as by all other issu e rs. Advance notice of the requirem ent is being made to give sufficient tim e to issuing agents to make this change in an orderly fashion. There are m ore than 18, 500 banks and other financial institutions and companies qualified to issue Series 2 savings bonds0 While many of the agents handling payroll accounts now include social security numbers as part of the bond inscription, a number of them do not. Those who do noc are urged to convert as expeditiously as possible. Financial institutions issuing bonds on over-the-counter sales may begin immediately, to inscribe the numbers on these bonds. oOo S-91