§ 360.48 - Restrictions on reissue; denominational exchange.

§ 360.48 Restrictions on reissue; denominational exchange.

(a) Elimination of definitive Series I bonds. After February 14, 2014, the Department of the Treasury will no longer reissue Series I bonds in definitive (paper) form. After that date, a request for reissue of a Series I bond for any reason will only be processed under one of the following conditions:

(1) If the new owner requests payment in the same transaction; or

(2) If the new owner provides instructions to reissue in the form of a book-entry bond in a TreasuryDirect® account. This option is available for persons who are eligible to open a TreasuryDirect® account under the regulations in 31 CFR part 363.

(b) Denominational exchange. Reissue is not permitted solely to change denominations.

[79 FR 8860, Feb. 14, 2014]