Become an Issuing and Paying Agent

Thank you for your interest in becoming an issuing and/or paying agent for U.S. Savings Bonds. We are ready to work with you to make this a smooth and easy process. Following are the steps to take to become an issuing and paying agent. If you need advice or assistance at any step of the process, consult your Treasury Retail Securities Site.

Step 1 - Review Service Options

The following links will help you learn more about the U.S. Savings Bonds Program:

Step 2 - Review Rules and Regulations

Federal Reserve Financial Services use is governed by applicable Operating Circulars (OCs). If you will order bonds via Savings Bonds Direct® (see Options for Ordering Bonds in Step 4 below) the following applies to the U.S. Savings Bonds Program:

Additionally, Treasury regulations governing the U.S. Savings Bonds Program are in the Code of Federal Regulations.  Treasury Department Circulars contain information about the statutes and regulations governing U.S. Savings Bonds.

Step 3 - Complete Forms/Agreements

Return the completed forms to your servicing Treasury Retail Securities Site.

Step 4 - Choose Methods for Ordering and Redeeming Bonds

Once you have been qualified as an issuing and paying agent, you will need to make plans for submitting your bond orders and redeemed bonds.

Options for Ordering Bonds

Savings Bonds Direct

Savings Bonds Direct is a Web-based application that can be accessed from any Internet-based PC and used to create, submit and manage bond orders. The Treasury Retail Securities Sites provide customer setup, technical support and seminars for Savings Bonds Direct.

To get started, you must first designate a Local Security Administrator (LSA) for Savings Bonds Direct. Your organization then completes and submits a Local Security Administrator (LSA) Authorization form (PDF) to the Treasury Retail Securities Site. The LSA will set up and manage all user access within your institution or organization.

It is strongly recommended that each institution/organization designate additional LSAs to assist in the management of user security and access rights. Learn more about submitting electronic files using Savings Bonds Direct (Off-site Link).

PCRDS32 for Windows

The Treasury Retail Securities Sites also offer a free, user-friendly software package that lets you create savings bonds orders on any PC with the Microsoft Windows operating system. Orders created with this software must be saved on a disk or CD and mailed.

To order PCRDS32 for Windows, contact your servicing Treasury Retail Securities Site or download the PCRDS32 Software (Off-site Link).

Savings Bonds Pro®

Savings Bond Pro can help you electronically process U.S. Savings Bonds for your customers. To learn more or order this free software, visit the Savings Bond Pro Web site at www.bondpro.gov (Off-site Link).

Options for Redeeming Bonds

EZ Clear

The EZ Clear Program is used to process redeemed U.S Savings Bonds and Notes through the Federal Reserve's check collection system.

To learn more about the EZ Clear program for redeeming bonds, visit the EZ Clear Web site (Off-site Link).

Circular 888 Stamp

The Circular 888 stamp helps you provide fast service to customers who redeem large quantities of savings bonds. Instead of the customer signing each savings bond, your institution stamps the back of each bond with the Circular 888 stamp.

To order a Circular 888 Stamp, contact your Treasury Retail Securities Site.

Step 5 - Congratulations! Begin issuing and redeeming bonds.

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