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• The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds •
• The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds •
The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds • The Guide to Cashing
Cashing Savings Bonds • The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds
Section Title Here
FS Publication 0022
Revised October 2022
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The Guide To Cashing Savings Bonds (FS P 0022)
T
he United States Treasury created this guide to help nancial institutions navigate the process of
redeeming and cashing paper savings bonds so you can balance quality customer service with ecient
and accurate performance. It’s a win-win for your nancial institution – knowing the procedures and
processes helps protect your nancial institution from loss.
If you accidentally cash a bond or note for the wrong person or if you cash a bond or note that otherwise
results in a nancial loss, your nancial institution is liable for the loss unless the Department of the Treasury
can determine your institution was not at fault or negligent as a paying agent. That’s where individual
responsibility comes in. If you follow this guide whenever you cash a savings bond (and you may on
occasion need to refer to additional instructions and guidance provided through www.frbservices.
org), it will be easier for Treasury to make that determination.
How this guide works
The Guide to Cashing Savings Bonds is designed to help nancial institutions ow through decisions you
must make when a customer brings a note or bond to redeem. Here are the basic questions to answer and
steps to take:
1.
Is each bond authentic and eligible to be redeemed?
2. Is the person cashing the bond entitled to it?
3. What is the bond’s redemption value?
4. Can you verify the customer’s identity?
5. Documents for identication
6. Making a payment
7. Final steps for internal processing
Your nancial institution’s basic responsibilities
Required: Cash savings bonds or notes that are eligible for payment for an established account holder at
your bank who presents the proper identication and who seems worthy of your trust.
Optional: Payment to a person who doesn’t hold an account at your bank or who only recently opened an
account at your bank is at the option of your nancial institution. The Secret Service recommends a bank not
cash bonds for a customer not established at the bank for at least 12 months. If you choose for any reason
not to cash a bond, you may refer the customer to the TreasuryDirect.gov website and its instructions for
cashing by mail. In this case, the customer mails the bond, FS Form 1522, and possibly other materials to
Treasury Retail Securities Services in Minneapolis.
Prohibited: Do NOT cash bonds or notes presented and signed by:
n an attorney-in-fact (an individual acting under a power of attorney);
n a step-parent on behalf of a minor;
n someone whose name is the same as, or similar to, the bond owner’s name when you know that the
presenter is not the owner and not entitled to payment; or
n someone whose name appears only in the address in a bond’s inscription after the words “Mail to.”
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Do NOT cash bonds or notes if:
n any information on those bonds or notes has been altered;
n the bonds or notes are mutilated or defaced in any way;
n there are any noticeable irregularities in the texture, feel, or appearance of the bonds or notes;
n they are photocopies, images, or photographs – or any other types of copies; or
n you are suspicious of the bonds or notes or the person presenting them.
Disasters and Hardship Cases
In the event of nancial hardship or certain designated disasters, exceptions may be available for quicker
redemptions. In such situations, please contact Treasury Retail Securities Services at 1-844-284-2676.
Why notations are SO important
It’s very important to note the identication or evidence you accept. You can make that notation on the
bond or on a separate record (which must be retained). Either way, make sure your notation is clear, readable
and detailed enough to show exactly how you established the customer’s identication and/or where any
evidence can be found if ever necessary. The goal is to ensure your notes can be easily read on images,
copies, photocopies, or photographs of redeemed bonds and notes.
We even provide examples of adequate notations. This is important because if Treasury has any question
about the liability of your nancial institution as a result of the payment, the institution must be able to
provide complete information about the payment and the identication that was used.
Examples of common forms of registration
Sole Owner: “John A. Doe”
Co-owner: “John A. Doe OR Mary B. Doe”
Owner with Beneciary: “John A. Doe POD Mary B. Doe”
Understanding Issue Dates and Validation Dates
Issue Date – Use the Issue Date to price the bond. Issue dates consist of the month and year
(eg: 5/89 or Nov. 1989)
Validation Date – The Validation Date simply represents the date the bond was printed. Do NOT use it to
determine the value of the bond. Validation dates consist of the month, day, and year (eg: 1/02/89).
A validation date could dier from the issue date if, for example, the bond was reissued or was included
in a claim for lost bonds and consequently replaced.
However, be sure to compare the Issue Date to the Validation Date. If you nd an obvious dierence, it could
indicate an error in the Issue Date that may cause the bond to be paid incorrectly. As an example: an Issue
Date of January 2011 and a Validation Date of January 2, 2012.
For unanswered questions, please follow established procedures to contact Treasury Retail Securities
Services at PO Box 9150, Minneapolis, MN 55480-9150 or call 1-844-284-2676.
CLICK TO BEGIN
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YES
YES
YES
NO
NO
NO
Is each bond authentic and eligible to be redeemed?
STOP
STOP
STOP
STOP
GO
GO
GO
GO
1
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail. (Don’t cash or redeem Series F, G, J, K, H, and
HH or Individual Retirement Bonds or Retirement Plan Bonds.)
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
Is the bond a Series E, Savings Note, Series EE, or Series I?
HINT: Valid Issue Dates are: Series E – May 1941 – June 1980
Savings notes – May 1967 – October 1970
Series EE – January 1980 – December 2011
Series I – September 1998 – Present
Is the Issue Date valid?
YES NO
HINT: Price bonds using the Issue Date, NOT the Validation Date. Be sure to compare the
Issue Date with the Validation Date for obvious errors on bonds that were issued Over
the Counter (OTC). For example, an Issue Date may show 1/02 while the Validation Date
shows 1/2/03, or vice versa.
Use caution. Some bonds may have legitimate variation in dates, generally
when the bonds were reissued as a result of a claim or reissue transaction.
WAIT
Does the Issue Date match the bond’s Printed Date?
If you are at all unsure,
Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
Has the bond been held for the minimum retention period of 12 months?
Don’t cash the bond. It’s not yet eligible for payment. Explain to the
customer that the bond must be held for the minimum holding period.
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NO
YES
Don’t cash the bond if there’s any indication that someone has visibly,
physically changed the names, addresses, issue dates, or any other
information. For example: the person added a name to the front; there
appear to be erasures; someone changed or tried to change the issue date.
HINT: Check for variations in the font and type size. There should be none.
HINT: Check to be sure the printed area of the bond (the inscription on the face of the
bond) is aligned LEFT. Any variance in alignment indicates changes.
Has information printed on the savings bond been altered in any way?
Has the bond been mutilated or defaced in any way?
NO YES
Is the bond a photocopy or some other kind of copy?
Are there any noticeable irregularities in the texture, feel, or appearance of the bond?
Don’t accept or cash any bond that appears to be copied. Is it printed on
bond stock? Is it black and white? (Color copies are no guarantee – printers
are getting more sophisticated.) Check the back of the bond for two things:
(1) reference to regulations and (2) signature lines printed on the bond.
Finally, make sure everything lines up correctly – check for any slight slants
or o-kilter printing or graphics.
HINT: Check for serrated edges on newer bonds (where they were printed, perforated,
and separated). Be aware that many older bonds do not have serrated edges, however.
HINT: If a presenter asks you if a bond is good, that’s a tip he or she knows it may not
be. We offer two tools that can help. Savings Bond Valuation and Verification (SBVV)
and Savings Bond Pro allow you to verify bonds’ serial numbers against a Treasury file
of bonds reported lost, stolen, or never received.
More information:
n SBVV — Send e-mail to [email protected]
n Savings Bond Pro — See https://www.treasurydirect.gov/savings-bonds/cashing-a-
bond/savings-bond-pro/features
STOP
STOP
GO
GO
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Is the person cashing the bond entitled to it?
2
YES
NO
NO
to ANY
HINT: If there is a “Mail To:” name printed on the bond, that person is NOT a registered
owner and is NOT entitled to payment.
Is the customer:
ACTION
Is the customer named as owner or co-owner (“or”) on the bond?
Don’t cash the bond. Refer the customer to TreasuryDirect.gov
and its instructions for cashing by mail.
a parent of a minor who is named as owner or co-owner? GO to 2-a
named as beneciary? GO to 2-b
requesting payment as a legal representative? GO to 2-c
NO YES
Don’t cash the bonds. This might happen if two people in the same family
have the same name. For example, the presenter is a Jr., Sr., I, II, III but there
is no sux on the bond (or vice versa). The names are the same with the
exception of the bond showing either a dierent or no middle initial.
Do you have any reason to think the person requesting payment might not be the actual owner, co-
owner, or other person named on the bonds, even though he or she seems to have the same name as
one of those printed on the bonds?
YES NO
Has the person signed the Requests for Payment on the backs of the bonds in your presence?
Don’t cash the bond until the customer signs or re-signs in our presence.
YES
NO
HINT: If the names don’t match, remember that it could be a situation where family
members share names or suxes are dierent.
Use caution. Is it an obvious dierence, like a shortened rst name, a
maiden or married name? Have them re-sign, note the explanation, and
proceed. If it’s not obvious or the explanation doesn’t satisfy you, don’t cash
the bond; refer the customer to TreasuryDirect.gov and its instructions for
cashing by mail.
Do the SIGNATURE and NAME match the name on the bond exactly?
STOP
STOP
GO
GO
GO
GO
WAIT
WAIT
OPTION: Payment to a person who doesn’t hold an account at your bank or who only recently opened
an account at your bank is at the option of your nancial institution. If you choose for any reason not to
cash a bond, you may refer the customer to TreasuryDirect.gov and its instructions for cashing by mail.
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Special Cases: Parents
2 a
OPTION: Payment to a parent is at the option of your nancial institution. If your institution doesn’t want
to make the payment, refer the customer to TreasuryDirect.gov and its instructions for cashing by mail.
YES
YES
NO
NO
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail. Payment can only be requested by the
parent with whom the child resides or who has been given legal custody.
Is the customer the parent of a child named as owner or co-owner?
Is the customer the custodial parent with legal custody?
HINT: A step-parent is not permitted to request or receive payment on behalf of a child
named as an owner or co-owner.
YES NO
Is the child too young to sign the request and understand the transaction?
Have the child sign the request. Obtain and note identication.
On the back of the bond, have the parent enter a request similar to: “I certify that I am the
parent of Jane Doe with whom Jane Doe resides (or to whom legal custody has been granted).
She is X years old and is not of sucient understanding to make this request. John Doe on
behalf of Jane Doe.”
And then proceed.
STOP
STOP
GO
GO
GO
ACTION
ACTION
ACTION
Is the address on the bond the customer’s current address?
Is the Social Security Number on the bond the customer’s?
Ask the customer to enter the correct SSN
and/or the correct address on the back of
the bond before continuing.
GO
Go to 2-e
Is the answer
YES to BOTH?
Is the answer
NO to EITHER?
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Special Cases: Beneciary
2 b
OPTION: Payment to a beneciary is at the option of your nancial institution. If your institution doesn’t
want to make the payment, refer the customer to TreasuryDirect.gov and its instructions for cashing by mail.
YES
YES
NO
NO
Don’t cash the bond. The customer must have a certied death certicate.
Don’t cash the bond. The customer must have a certied death certicate.
Does the customer have a death certicate for the owner?
Is the death certicate certied under seal of the state or local registrar?
YES NO
Is the name on the death certicate the same as the owner’s name on the bond?
Use caution. Is it an obvious dierence, like a shortened rst name,
a maiden or married name? Have the customer re-sign, note the
explanation, and continue.
Don’t cash the bond. Refer the customer
to TreasuryDirect.gov and its instructions
for cashing by mail.
If it’s not obvious
or the explanation
doesn’t satisfy you:
STOP
STOP
GO
GO
WAIT
GO
STOP
YES NO
Is the address on the bond the child’s current address?
Ask the customer to enter the child’s address on the back of the bond and
go to 2-e.
Go to 2-e
GO
ACTION
YES NO
Is the Social Security Number on the bond the child’s?
Ask the customer to enter the child’s SSN on the back of the bond
before continuing.
Inform the customer that he/she must obtain one for the
child before the bond can be cashed on the child’s behalf.
If the child does not have
a Social Security Number:
STOP
GO
ACTION
YES NO
Has the beneciary signed the request for payment in your presence?
Ask the customer to sign or re-sign the request before continuing.
GO
ACTION
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9
YES NO
Is the address on the bond the beneciary’s current address?
Ask the customer to enter his or her address on the back of the bond and
go to 2-e.
GO
ACTION
YES NO
Is the Social Security Number on the bond the beneciary’s?
Ask the customer to enter his or her number
on the back of the bond before continuing.
GO
ACTION
YES NO
Does the signature match EXACTLY the name on the bond?
Use caution. Is it an obvious dierence, like a shortened rst name,
a maiden or married name? Have the customer re-sign, note the
explanation, and continue.
Don’t cash the bond. Refer the customer
to TreasuryDirect.gov and its instructions
for cashing by mail.
If it’s not obvious
or the explanation
doesn’t satisfy you:
STOP
GO
WAIT
Go to 2-e
Special Cases: Legal Representative
2 c
OPTION: Payment to a legal representative is at the option of your nancial institution. If your institution
doesn’t want to make the payment, refer the customer to TreasuryDirect.gov and its instructions for
cashing by mail.
NO
YES
Don’t cash the bond. Refer the customer to TreasuryDirect.gov
and its instructions for cashing by mail. You may not pay to an
attorney-in-fact.
Is the customer an attorney-in-fact (acting under a power of attorney)?
YES NO
Is the legal representative designated on the bond by both name and title
(EX: “John Doe EX U/W Mary Doe Decd”)?
If the legal representative was NOT designated on the bond by name and
duciary title but WAS appointed by the court to settle and represent a
decedent’s estate, go to 2-d Legal Representative Not Named on Bond.
If the legal representative was NOT designated on the bond, and if that representative is a
guardian, trustee, or other representative who was NOT appointed by the court to represent
and settle a decedent’s estate:
Don’t cash the bond. Refer the customer to
TreasuryDirect.gov and its instructions for cashing
by mail.
STOP
STOP
GO
GO
ACTION
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YES NO
Has the legal representative signed the request for payment in your presence?
Is the taxpayer identication number on the bond the same one used for the estate?
Does that signature include the capacity in which he or she is acting?
Is the address on the bond the same mailing address for the estate?
Ask the customer to sign or re-sign the request and provide the capacity
(Ex: “U/W Mary Doe Decd”) before continuing.
YES NO
Use caution. Is it an obvious dierence, like a shortened rst name,
a maiden or married name? Have the customer re-sign, note the
explanation, and continue.
Does the signature with duciary title (ex: guardian, executor, trustee, etc.) match exactly the name and
duciary title on the bond?
Don’t cash the bond. Refer the customer
to TreasuryDirect.gov and its instructions
for cashing by mail.
If it’s not obvious
or the explanation
doesn’t satisfy you:
YES NO
Ask the customer to enter the correct TIN and/or address on the
back of the bond and go to 2-e.
STOP
GO
GO
GO
WAIT
ACTION
ACTION
Go to 2-e
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Special Cases: Legal Representative Not Named on Bond
2 d
OPTION: Payment to a legal representative is at the option of your nancial institution. If your institution
doesn’t want to make the payment, refer the customer to TreasuryDirect.gov and its instructions for
cashing by mail.
YES
NO
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail. The customer must have a certied death
certicate for each person named on the bond.
Does the customer have a death certicate (certied under seal of the state or local registrar) for each
person named on the bond?
YES NO
Use caution. Is it an obvious dierence, like a shortened rst name, a
maiden or married name? Have the customer re-sign, note the
explanation, and continue.
Is the name on the death certicate(s) the same as the name on the bond?
Don’t cash the bond. Refer the customer
to TreasuryDirect.gov and its instructions
for cashing by mail.
If it’s not obvious
or the explanation
doesn’t satisfy you:
YES
NO
The customer may not request payment. The bond belongs to the estate
of the named owner who died last.
Is the customer acting for the estate of the LAST deceased?
HINT: When two people named on a bond (as co-owners or as owner and beneciary)
are both dead, that bond belongs to the estate of the person named on the bond who
died last. In this situation, reject any request from anyone acting for or representing the
estate of the person who died rst.
When two people are named on a bond (as co-owners or as owner and beneciary) and
only one is dead, the bond belongs to the living, surviving person who is named on it.
YES
NO
Don’t cash the bond. The customer must have a certied copy of his or
her authority or appointment.
Does the customer have evidence of his/her authority or appointment?
Does it show that he/she is the representative of the decedent’s estate with full authority to represent
and settle the estate?
STOP
STOP
STOP
STOP
GO
GO
GO
GO
WAIT
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12
Refer the customer to TreasuryDirect.gov and its instructions for cashing by mail if:
n
Evidence of the representative’s authority is “limited” or “special” rather than “full”
general authority to settle the estate.
n
The customer states that he/she is designated in a will as the executor, but there
is no legal evidence or other indication that the will was probated and that the
customer was appointed through court proceedings.
n
The estate is being settled using a small estate adavit, a special estate settlement
process under State law.
n
The estate is being settled informally.
YES
NO
Don’t cash the bond. The customer must have a certied copy of his or her
authority or appointment.
Is the evidence of authority or appointment certied to be true and correct under court seal?
YES
NO
Don’t cash the bond. The customer must have evidence of an appointment
that’s in full force and eect.
Is the evidence of authority or appointment current?
HINT: Consider evidence current if:
n
The appointment was made no more than 1 year prior to today’s date, or
n
The evidence bears a full force and eect statement issued within one year of the
presentation of the bonds.
YES
YES
NO
NO
Has the customer signed the request for payment in your presence?
Does that signature include the capacity in which he/she is acting (Ex: U/W Mary Doe Decd”)?
Is the Taxpayer Identication Number on the bond also the one used for the estate?
Is the address on the bond the same as the one used for the estate?
Ask the customer to sign or re-sign the request,
including the capacity before continuing.
Ask the customer to enter the correct TIN and/or mailing address on the
back of the bond before continuing.
STOP
STOP
GO
GO
GO
GO
ACTION
ACTION
ACTION
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13
For a case involving a death certicate or evidence of authority or appointment, note either on the bond or
in a separate record the following information:
From each death certicate:
n
the document number or case number,
n
the name and location of the issuing authority, and
n
the date of death of each person named on the bond.
From the evidence of authority or appointment:
n
the document number or case number,
n
the date of issuance or full force and eect certication, and
n
the name and location of the issuing authority.
EX: “D/C John Doe, St of KS, No 50-87, DOD 7/30/90; L/A John Doe, St of KS, Kay Cty, No P87-5,
Dist Ct 7/17/90”.)
Make Clear and Complete Notes
2 e
Go to Step 3
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14
What is the bond’s redemption value?
3
The Fiscal Service oers banks two tools for determining the redemption value of a savings bond. They are
Savings Bond Pro and Savings Bond Valuation and Verication (SBVV). Also, your bank may have a pricing
tool of its own.
Though Bond Pro and SBVV both price bonds, the two tools are different. For information on SBVV, send
an e-mail to [email protected]. For information on Bond Pro, see below.
Characteristics of Bond Pro:
n A caveat file that shows bonds reported lost, stolen, damaged, etc., is updated once every six
months, when we perform the values update.
n You download a program and then download updates every six months.
n Banks track how many bonds they redeem and who redeems them, and can create a 1099 data file
for tax reporting.
n For each customer, Bond Pro stores information such as address, Social Security Number, and bonds
purchased and cashed.
Go to Step 4
More: https://www.treasurydirect.gov/savings-bonds/cashing-a-bond/financial-institutions/#pro
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15
ACTION
Can you verify the customer’s identity?
4
There are three kinds of identication you may use:
n
the individual is an established account holder at your nancial institution
n
the individual is identied by another person
n
the individual presents an identication document (used only for payments of $1,000 or less)
Individual is an established account holder
4 a
Go to 4-c.
Does the customer have an account at your nancial institution?
Is the account at least 12 months old?
Does the customer’s signature on the bond match that person’s signature on le at your institution?
Are you condent the bond and the person presenting it are legitimate?
YES
YES NO
NO
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
Cash the bond. Makes notes to clearly show the identication you are using to verify the customer.
n
Type of account,
n
Account number, and
n
Date account was established.
(Ex: “Ck Acct 3421, 4/1/80”)
GO
GO
ACTION
ACTION
Individual is identied by another person
4 b
Go to 4-c.
GO
GO
Is the customer with another person who’s an established customer of your nancial institution?
Does the identier know the customer by the name on the bond?
Is the answer
YES to BOTH?
Is the answer
YES to BOTH?
Is the answer
NO to EITHER?
Is the answer
NO to EITHER?
HINT: The established customer must have had an account open for at
least 12 months or be well known to an ocer at your nancial institution.
STOP
STOP
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16
16
Does the identier reliably know the customer?
Is their acquaintance of sucient duration?
HINT: Personal identication based on a casual acquaintance isn’t reliable. Ex: a brief
landlord-tenant relationship or identication made of patrons by owners or employees of
hotels, bars, restaurants, bowling alleys, etc.
YES
NO
Go to 4-c.
Have the identier sign the back of the bond, then cash the bond. Clearly note what kind of
identication you accepted. Include:
n
name and address of the identier,
n
relationship, and
n
length of the acquaintance.
(Ex: “John Smith, 98 Oak St, ex-college roommate, 10 yrs”)
STOP
STOP
GO
ACTION
Individual is identied through documentation
4 c
Does the customer have a motor vehicle operator’s license or state identication card?
YES NO
If the customer:
n
has another form of ID, check the document lists in Step 5, conrm it’s
acceptable, and then continue.
n
Doesn’t have acceptable ID, Don’t cash the bond.
The customer may take the bond to a nancial institution where he or
she is an established customer or may try to cash by mail, following
instructions on TreasuryDirect.gov.
STOP
GO
ACTION
Are you condent the bond and the person presenting it are legitimate?
YES NO
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
GO
YES
NO
Don’t cash the bond. You may refer the customer either to a
nancial institution where he or she is an established customer or
to TreasuryDirect.gov and its instructions for cashing by mail.
Is the value of the bonds $1,000 or less?
STOP
GO
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17
YES NO
Is it an obvious dierence, like a shortened rst name, a maiden or married
name? Have the customer re-sign, note the explanation, and continue.
Is the name on the identication the same as the name on the bond?
Don’t cash the bond. Refer the customer to
TreasuryDirect.gov and its instructions for cashing by mail.
STOP
STOP
STOP
STOP
GO
WAIT
Is there a picture and/or physical description that matches the customer?
YES NO
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
GO
Do the signatures on the ID and the bond match?
YES NO
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
Cash the bond. Make notes to show the identication you accepted. A motor
vehicle operator’s license notation must be readable and include the issuer and the
number. EX: “NY D/L A07346-9975-73882.” Refer to the document tables in Step 5 for
requirements for other documents.
GO
ACTION
HINT: A motor vehicle operator’s license or state ID must have a photograph or physical
description of the customer, be signed by the customer, and be countersigned or
otherwise validated. See the Document Table if you have questions.
YES
NO
Don’t cash the bond. The customer may take the bond to a nancial
institution where he or she is an established customer or may try to cash
by mail, following instructions on TreasuryDirect.gov.
STOP
GO
Does the ID appear genuine and meet the specic requirements for the type of document?
Are you condent the bond and the person presenting it are legitimate?
YES NO
Don’t cash the bond. Refer the customer to TreasuryDirect.gov and its
instructions for cashing by mail.
GO
If it’s not obvious or the explanation doesn’t satisfy you, or if the presenter and
the owner have the same or similar names but you’re aware they’re not the
same person:
QUICK START SUPPLEMENT • QUICK START SUPPLEMENT • QUICK START SUPPLEMENT
18
18
Type of ID Requirements Notation
Craft/trade license issued by
state or local government, for
example, a barber, cab driver,
electrician, etc.
License with licensee’s photograph
or physical description and signature, and
countersigned or otherwise validated.
Issuer, document,
number
EX: “DC barber
lic. 4513”
Employer identication card
including those of state and
local governmental agencies
Card with employee’s photograph or physical
description and signature, and countersigned
or otherwise validated by employer whose
existence is known to the paying agent.
Issuer, number
EX: “ABC Co.
ID 879,065”
Motor vehicle operator’s license
License with licensee’s photograph or physical
description and signature, and countersigned
or otherwise validated.
Issuer, number
EX: “NY D/L A07348-
99753-738826”
State-issued identication card
Card with holder’s photograph or physical
description and signature, and countersigned
or otherwise validated.
Issuer, number
EX: “CA ID K123456”
Acceptable General Documents
Documents for Identication
5
5
a
QUICK START SUPPLEMENT • QUICK START SUPPLEMENT • QUICK START SUPPLEMENT
19
19
Type of ID Requirements Notation
Alien Registration
Receipt Card
(“Green Card”)
Form I-151 or I-551, with holder’s
photograph, date of birth, port of
entry, thumbprint and signature.
Form number (from lower
right corner on back) and
alien number (in center on front of card)
EX: “Form I-151, AI 2345678”
Armed Forces
identication card
Active duty - DD Form 2, followed
by branch of service, for example,
“A” (Army) and word “Active”
printed in green ink.
Reserve - same form, green ink.
Retired - same form, gray ink.
Form number (appears in left marginal
border on face of card), service number,
card number, issue date
EX: “DD 2A Active, 33,215,626/12951 -
8/3/89”
Federal employee
identication card
or badge
Card or badge with employee’s
photograph or physical
description and signature, and
countersigned or otherwise
validated.
Form number (if any), issuer, card
number, issue date
EX: E&P 9309 OD, US Treasury,
4464,1/2/89”
Uniformed Services
Identication and
Privilege Card
DD Form 1173 - orange color.
Form number (appears on left lower
corner on back of card), card number
(appears on upper right face of form),
place of issue, issue date
EX: “DD1173,A812,994 / Fort Lee - 4/1/89”
United States passport
Booklet with holder’s photograph,
signature and physical description.
Passport, number, issue date
EX: “US passport EL 2345 - 8 /30/89”
Acceptable U.S. Government Documents
5 b
QUICK START SUPPLEMENT • QUICK START SUPPLEMENT • QUICK START SUPPLEMENT
20
20
These and similar documents are inadequate for identication because they don’t contain both a physical
description and a validated signature, and they are usually easy to obtain without having to establish
identication to the issuing authority.
However, for payments of $1,000 cash value or less, paying agents may request both this kind of
identication as well as additional acceptable documents to corroborate identity. This might be helpful
if the presenter doesn’t have a 12-month-old or older account with the institution.
n
Armed Forces discharge or separation documents;
n
Automobile registration certicates;
n
Birth and marriage certicates;
n
Credit cards or plates;
n
Health or other insurance policy holder cards;
n
ID cards purchased from commercial ID business;
n
Organization, union, professional, etc., membership and identication cards;
n
Passbooks - banks, etc.;
n
Selective Service classication cards;
n
Selective Service registration certicates;
n
Social security cards; and
n
Voter registration cards.
Unacceptable Documents
5 c
Go to Step 6
QUICK START SUPPLEMENT • QUICK START SUPPLEMENT • QUICK START SUPPLEMENT
• The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds •
• The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds •
The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds • The Guide to Cashing
Cashing Savings Bonds • The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds
21
Step 6. Making a Payment
Step 6. Making a Payment
21
Making a Payment
6
Have you made clear and complete notes describing the identication documents used to verify the
customer? That’s important because image quality and readability are necessary when considering
liability for any future losses resulting from improperly cashed savings bonds. So here’s a guide:
Have you noted the correct nancial information? When paying the bond, be sure to pay and show the
Current Redemption Value (CRV) of the bond, not just the Interest Paid amount.
For Established
Account Holders
For All Customers
Show the complete account number and type of account as well as the date the
account was established. (Ck Acct 3421, 4/1/80)
Write on the backs of the bonds with readable, clear notes. Up to 10 years
later, your notes must be clear enough so we know what identication and
documents were accepted and how you established the person’s eligibility.
It’s the same for notes about legal documents – make them complete and
clear so we can easily retrieve documents from a court or agency.
You may keep notations in separate records, but remember that your
institution must have those records easily accessible for 10 years.
Stamp each bond with a “PAID STAMP.” The stamp must show:
n
The full Current Redemption Value (CRV)
n
Initials of the employee cashing the bonds
n
The transaction date
n
Name and location of your branch or office
n
Serial Numbers
n
Addresses
n
Names
n
Issue dates
Be sure the PAID STAMP does not cover up or print over information already on the bonds, such as:
QUICK START SUPPLEMENT • QUICK START SUPPLEMENT • QUICK START SUPPLEMENT
• The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds •
• The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds •
The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds • The Guide to Cashing
Cashing Savings Bonds • The Guide to Cashing Savings Bonds • The Guide to Cashing Savings Bonds
22
Step 7. Final Steps for Internal Processing
Step 7. Final Steps for Internal Processing
22
Final Steps For Internal Processing
7
Remove images of any bonds that WERE NOT PAID BUT WERE FORWARDED FOR PROCESSING
from the images/bonds your institution paid and are submitting for credit. This will avoid
duplicate submissions.
Make sure each bond has a unique serial number whenever you submit more than one bond
for credit.
When encoding bonds for submission, be sure to MICR encode the Current Redemption Value
(CRV), NOT the Interest Paid, to avoid errors.
When imaging bonds for Check 21 submission, be sure the bond is not folded to obscure
essential information (stamps, requests for payment, serial numbers, signatures, etc.).
Be especially careful when imaging the larger Series E half-sheet bonds to ensure no
information is obscured.