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/9r a ir Federal R eserve Ba n k of N ew Y o r k N E W Y O R K 4 5 . N.Y. RECTOR F i s c a l Age n t of 2-5 7 0 0 the U n it e d S ta te s December 11, 1963 Taxpayer Identifying Numbers on Savings Bonds To Issuing Agents for Savings Bonds in the Second Federal Reserve District: Enclosed is a copy of a Treasury Department press release concerning taxpayer identifying numbers on savings bonds. It is being sent to you for your information at the request of the Treasury Department. ALFRED HAYES, President Enclosure T R EA SU R Y DEPARTM ENT WASHINGTON. D .C. FOR IMMEDIATE RELEASE December 9, 1963 TREASURY ANNOUNCES ISSUANCE OF INSTRUCTIONS FOR OBTAINING TAXPAYER IDENTIFYING NUMBERS ON REDEEMED SAVINGS BONDS The Treasury announced today that instructions are being issued to banks and other financial institutions to request owners of Series E, F and G Savings Bonds on which any amount of interest is earned to insert their taxpayer identifying numbers (social security account numbers or employer identification numbers) on the bonds when they are presented for payment•beginning January 1, 1964. This action is in furtherance of the Treasury’s program to obtain taxpayer identifying numbers from all recipients of interest paid on registered public debt securities. The Treasury is not making it a mandatory requirement at this time that owners of savings bonds of the three above-mentioned series furnish their tax payer Identifying numbers when redeeming their bonds. Consideration is being given, however, to the issuance of regulations which would make the furnishing of the numbers mandatory at time of redemption with respect to E bonds issued on and after a specified date in the future. (Series F and G Savings Bonds are no longer on sale.) Applicants for Series H Savings Bonds, the current income com panion bond to the E bond, are now required to furnish their taxpayer identifying numbers before the bonds are issued. The Treasury is also giving consideration to a long-range program under which taxpayer identifying numbers will eventually appear on all E bonds when they are issued. The Treasury is at present giving thought to means by which, under a long-term program, the processes of change-over to the new method will be gradual and thereby lessen its impact upon the 19,000 bond issuing agents who perform the issuing job without cost to the Treasury. The first phase of the program will cover bonds issued for Federal civilian and military personnel. The Treasury will also at this time approve the placement of taxpayer identifying numbers on E bonds upon application submitted to it by those issuing agents desiring to do so who operate a payroll savings plan. The Treasury requests that the owners of Series E, F and G Savings Bonds, and also Series J Savings Bonds, on which any amount of interest is earned, who mail their bonds to the Office of the Treasurer of the United States, Washington, D. C. 20220, or to a Federal Reserve Bank or Branch for payment, write their taxpayer identifying numbers on the bonds, below and to the left of the seal, avoiding any printed matter wherever possible. The Treasury will not furnish an annual statement to bond owners showing the total amount of interest they received on their E, F, G and J bonds. They should, therefore, plan to post interest as received in a record of their choice, in order that it may be correctly reported in their tax returns. A form for computing E bond interest earned each time bonds are redeemed may be obtained from the agent paying the bonds. oOo D-1065
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