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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 7 0 8 1 ~| L. January 16, 1973 J SOCIAL SEC U RITY ACCO U N T N U M BER REQUIRED ON SERIES E SAVINGS BONDS T o A ll Issuing A g en ts fo r United States Savings Bonds in the Second Federal R eserve D istrict: As John K. Carlock, Fiscal Assistant Secretary of the Treasury Department, informed you in his letter dated December 20, 1972, the Treasury will require issuing agents for United States Savings Bonds to include the social security account number of the owner or first-named coowner on all Series E savings bonds with issue dates of October 1, 1973 or later. Enclosed is a copy of (a ) a Treasury Department press release, issued December 26, 1972, and (b ) Form PD 4182, “ Instructions to Issuing Agents for Placing Social Security Account Numbers on U: S. Savings Bonds, Series E, and Related Registration Stubs,” concerning the new requirement. As indicated in Mr. Carlock’s letter, the Treasury is providing what it hopes will be sufficient lead time to implement the new requirement in an orderly fashion. If you have any special problems regarding this requirement, please advise our Savings Bond Department (Telephone No. 212-732-5700, Extension 647 or 695). Additional copies of this circular and its enclosures will be furnished upon request. A lfred H a y e s , President. TREASURY Departmentoj'the WASHINGTON, D C. 20220 TELEPHONE W 04 2041 FOR IMMEDIATE RELEASE December 26, 1972 REQUIREMENT FCR INSCRIBING SOCIAL SECURITY ACCOUNT NUMBERS ON SERIES E SAVINGS BONDS The Treasury will require issuing agents to include the social security account number of the owner or first-named coowner on all Series E savings bonds with issue dates of October 1, 1973, or later. This requirement will make possible a more efficient record-keeping system. The present E bond registration records, which now extend to some 3 .4 billion bonds and are expanding at a rateof 130 million items a year, are based on the owners’ names and addresses0 The similarity of names and multiple changes of address often hamper the identification of bond holdings and the expeditious processing of requests for information or claims for the replacement of lost, stolen or destroyed bonds. A system of records based on account numbers will be more precise and, as a result, owners will benefit from more timely and accurate servicing of their inquiries and claims. The record-keeping system will also make less cumbersome the reporting to the Internal Revenue Service of interest paid when bonds are redeemed. The requirement for obtaining the social security number of the owner will bring Series E savings bonds into line with the requirements now in effect for savings accounts with financial institutions and all other registered bonds — those issued by the Government as well as by all other issuers. Advance notice of the requirement is being made to give sufficient time to issuing agents to make this change in an orderly fashion. There are more than 18, 500 banks and other financial institutions and companies qualified to issue Series E savings bonds. 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 not 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 U N ITED STATES DEPARTM ENT OF THE TREASURY F iscal Service Bureau of the P ublic 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 LA T ED REGISTRATION STUBS. GENERAL PURPOSE Issuing agents must inscribe the so cia l security account number of the registered owner or the first-named coowner on all Series E bonds bearing issue dates of October 1, 1973, and thereafter, and on the related registration stubs (or magnetic tape), in accordance with the requirements prescribed in these instructions. The number w ill be used by the Treasury in maintaining ownership records for these securities. SOCIAL SECURITY ACCOUNT NUMBERS Each so cia l security account number is made up of nine digits, and is written in the following manner: 0 0 0 - 0 0 - 0 0 0 0 (including hyphens). IN D IVID U A L WHOSE NUMBER IS REQUIRED (NATURAL PERSONS ONLY) Single owner form of registration - The registered owner's so cia l security account number. Coownership form of registration - The so cia l security account number of the first-named coowner. The account number of the second-named coowner is not mandatory, but it is highly desirable to have it if it can be readily obtained without unduly delaying issuance. Beneficiary form of registration - The registered owner's so cia l security 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 (includes awards, prizes, etc.) purchased over-the-counter — If registered owner's account number known The so cial 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 is not known, the purchaser's so cial security account number must be used to identify the bond. When the purchaser’ s number is used, the issuing agent must inscribe the word " G I F T ” immediately above the bond inscription to place the Department of the Treasury on notice that the number furnished is not that of the registered owner. In these c a se s the bond w ill not be associated in any way with the bonds owned by the purchaser. Courtesy titles for women — The savings bond regulations presently require that if bonds are registered in the names of women the appropriate courtesy title “ M iss” or “ M rs.” must be shown unless some other applicable title or designation is used. If a woman is named as registered owner or first-named coowner, her so cial security account number will provide adequate identification; consequently, no courtesy title need be furnished. The title for a female registrant designated as second-named coowner or beneficiary need not be required if her so cial security account number is provided. If requested, both title and number may be inscribed. The title “ Ms” may be included, on request, if the so cial security account number is provided. POSITION OF NUMBERS ON BONDS AND STUBS Inscriptions must always commence immediately to the right of the word “ T o ” printed on the bonds and in the same relative position on stubs when the latter are inscribed in a separate operation. Social security account numbers should be recorded as indicated below (zeros and ones are used to indicate so cial security account numbers and x 's indicate zip code numbers): PR EFER RED METHOD A L T E R N A T IV E METHOD ( 1st digit — 2 spaces after surname) (1st digit over 4th letter o f first name) Single owner form of registration 0 0 0 -0 0 -0 0 0 0 John M. D oe 0 0 0 -0 0 -0 0 0 0 John M. D oe 200 Main Street 200 Main Street C ity , State C ity , State xxxxx (Continued on reverse) Form PD 4 182 - D E P A R T M E N T OF T H E T R E A S U R Y - Bur eau of t he P u b l i c Debt xxxxx POSITION OF NUMBERS ON BONDS AND STUBS (Cont.) PR EFER RED METHOD A L T E R N A T IV E METHOD (1st digit — 2 spaces after surname) (1st digit over 4th letter of first name) Coownership form of registration 0 0 0 -0 0 -0 0 0 0 John M. D oe 0 0 0 -0 0 -0 0 0 0 John M. Doe 200 Main Street 200 Main Street C ity , State C ity , State x x x xx or Jane M. D oe 111-11-1111 xxxxx or Jane M. D oe 111-11-1111 Beneficiary form of registration 000-00-0000 John M. D oe 000-00-0000 John M. D oe 200 Main Street 200 Main Street C ity , State C ity , State xxxxx P O D Jane M. D oe 111-11-1111 x xxxx P O D Jane M. D oe 111-11-1111 A combination of any preferred and related alternative method of placing so cial security account numbers on bonds and stubs in accordance with these instructions may be used, if the limitations of the equipment used for inscribing purposes make it necessary. In the above illustrations, the double spacing between the “ C ity - State - Zip Code” line and the name of the coowner is to insure that the zip code number will appear on the last readable line when a window envelope is used for mailing bonds. Agents not using window envelopes for mailing bonds may use single spacing. Issuing agents now placing so cial security account numbers on bonds and stubs in positions other than those spec ified herein may continue to do so . It is requested, however, that the above instructions be followed when new inscriptions are prepared or changes are made in existing ones. Purchaser numbers - In payroll savings or similar plans where the purchaser authorizes the issuance of a bond on which his name does not appear in the inscription, the so cial security account number of the registered owner or firstnamed coowner must be shown in accordance with these instructions. Employees having bonds inscribed in the names of children or others should realize the importance of providing the account numbers of the registered owners, since the regis tration records will be established on the b asis of these numbers. The employee’ s (purchaser’ s) so cial security account number may also be shown on the bond, but not in either the preferred or alternative locations, as illustrated in these instructions, or in the zip code area. EMPLOYER ID E N T IF IC A T IO N NUMBER Employer identification numbers, which are obtainable from the Internal Revenue Service, must be inscribed on bonds registered in the names of organizations and fiduciaries. T h ese numbers are made up of nine digits and are written in the following manner: 0 0 -0 0 0 0 0 0 0 (include the hyphen). When forwarding purchase applications for such bonds to Federal Reserve Banks and Branches and the O ffice of the Treasurer, U .S ., which are the only agencies authorized to issue bonds in the names of organizations and fiduciaries, issuing agents must include on such applications the owner’ s employer identification number. E F F E C T IV E DATE Although October 1, 1973, is the effective date for requiring the so cial security account numbers, issuing agents are urged to change payroll issu e s to include such numbers as expeditiously as p o ssib le. Financial institutions issuing bonds on over-the-counter sa le s should begin immediately to inscribe the numbers on the bonds, whenever they can be obtained. QUESTIONS Questions regarding these instructions should be directed to the Federal Reserve Bank or Branch to which the issuing agent reports its sa le s of E bonds. GPO : 1972 O - 491-951
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