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Federal R eserve Bank OF DALLAS W ILLIAM H. W ALLACE DALLAS, TEXAS 75222 f i r s t v ic e p r e s i d e n t June 18, 1986 Circular 86-59 TO: All savings bond issuing agents in the Eleventh Federal Reserve District SUBJECT Savings bond sales remittance procedures DETAILS Agents are required to submit proceeds from sales in a timely manner. The Treasury Department may assess interest charges on reports which are late. All sale and spoil reports should be mailed to: Fiscal Agency Division P. 0. Box 650046 Dallas, Texas 75265-0046 ATTACHMENTS Attached is specific information regarding the schedule agents should follow when submitting reports. MORE INFORMATION Clarification or more information may be obtained by calling Jesse Harris at (214) 651-6315, or Glenda Jones at (214) 651-6349. Sincerely, For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800) 527-9200 (interstate). This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Indicated below are the rules and requirements governing the remittance of Savings Bond sales proceeds: 1. Payroll Sales Agents who issue payroll sales are required to submit the proceeds with an Advice of Credit form PD-4848. The schedule for submitting the proceeds of payroll sales is as follows: A. Bonds issued currently - If bonds are inscribed for issue during the month shown in the issue date, the proceeds and form PD-4848 must be remitted no later than two business days after the vali dation date. If possible, the related stubs and PD-3252 should be shipped at the same time. B. Bonds issued in the subsequent month - If bonds are inscribed for issue after the month shown in the issue date, the proceeds and form PD-4848 must be remitted no later than the second busi ness day of the month following the month shown in the issue date. The stubs and PD-3252 should be forwarded to the Federal Reserve Bank as soon as possible after issue but no later than the end of the month indicated by the validation date. 2. Over-the-Counter sales Over-the-Counter sales are reported with form PD-3252 (with a green stripe across the top) and the Advice of Credit form PD-4848 should not be submitted with these sales. All over-thecounter agents are classified as either class M (monthly) or class W (weekly) reporters. Agents with average monthly over-thecounter sales of $5,000.00 or more will be classified as W and those with average sales of less than $5,000.00 will be classified as M. Periodically, the Treasury Department will conduct a review and reclassification will be based on the results. A. Class W Over-the-Counter Sales of $5,000.00 or more Agents with average monthly sales of $5,000.00 or more have been placed in Class W and must submit report PD-3252 weekly. Agents in the geographical territory serviced by the Reserve Bank office indicated below should submit their report and stubs to the Dallas Reserve Bank's office on the day indicated: Reserve Bank Office Dallas Houston El Paso San Antonio Submit Reports Monday Tuesday Wednesday Wednesday B. Class M Over-the-Counter Sales of Less Than $5,000.00 Agents with average monthly sales less than $5,000.00 have been placed in class M and should submit reports monthly in accordance with the following schedule. Agents in the geographical territory serviced by the Reserve Bank office indicated below should submit their report PD-3252 and stubs according to the alphabetical break-down by city in which the agent is located. (1) (2) Second Week of Month City Dallas Reserve Bank A-C D-F G-L M-R S-Z Third Week of Month City San Antonio Reserve Bank A-H I-Z Submit Reports Monday Tuesday Wednesday Thursday Friday Submit Reports Monday Tuesday El Paso Reserve Bank City A-Z Submit Rep Wednesday Houston Reserve Bank City A-H I-Z The Treasury Department may assess interest charges on proceeds which are not submitted timely. It is, therefore, extremely important that all funds representing sales be forwarded to the Federal Reserve Bank in accordance with the schedules shown above. All of the aforementioned consignment account transactions should be mailed to: Fiscal Agency P.O. Box 650046 Dallas, Texas 75265-0046 A Monthly Consignment Account statement will be generated for each agent, and will be mailed shortly after the close of each month. The statement should be reconciled promptly and all exceptions reported in accordance with the instructions on the statement. Submit Rep Thursday Friday
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