Savings Bonds News You Can Use

The U.S. Treasury’s Bureau of the Fiscal Service and the Federal Reserve’s Treasury Retail Securities Site would like to thank participating financial institutions for their continued support of the U.S. Savings Bond Program. We are working together to identify ways to streamline and modernize the redemption process to make it easier for your staff to provide high quality, efficient and accurate services to your customers. Below are a variety of resources that we’ve gathered to assist you. We encourage you to bookmark this page and check back often for updated content.

Savings Bonds News

  1. Conversion is not necessary for redemption: Did you know that paper bonds do NOT need to be converted into electronic form for a customer to redeem them? You can process redemptions and pay the customer just as you have always done. Paper bonds may no longer be available to purchase, but the redemption process has not changed. Conversion is for customers who want to continue owning their bonds, but do not want the hassle of keeping paper savings bonds. Those customers can convert their bonds into electronic savings bonds in TreasuryDirect.
  2. Virtual Paying Agent Stamp (VPAS) is now available: When a customer redeems a paper savings bond at your financial institution, you have to stamp the face of the bond with various redemption information. Now, instead of physically stamping each bond, you can place an electronic overlay on the image of the redeemed bond. VPAS helps us by providing a more consistent bond image, and it can help you streamline bond redemptions for your employees. A signed agreement is required to test the VPAS at your institution. For more information, please contact Customer Support for Redeemed Savings Bond Clearing at (844) 284-2676.
  3. Retention Requirements: Did you know that Fiscal Service requires paying agents to retain redeemed savings bonds for only 30 days – just one month? Of course, financial institutions may establish a different retention schedule for other reasons, so be sure to check what your institution requires. Now you know!

FAQs

We’re committed to providing the information you need. Answers to many of your most frequently asked questions (FAQs) can be found on the Image-enabled Savings Bond Processing FAQs page.

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We’re Here to Help

We appreciate your support of the U.S. Savings Bond Program. If you have comments or suggestions you’d like to share, please use the online submission form. Please contact the Treasury Retail Securities Site at (844) 284-2676 with any questions you may have.

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