{"data":{"id":"us/31-cfr-321.1","jurisdiction":"us","citation":"31 CFR 321.1","heading":"Definitions.","body":"ACH payment or ACH means an Automated Clearing House method of transferring funds under the provisions of 31 CFR part 210.\nBeneficiary means an individual whose name is inscribed on a security as the person to whom it is payable in his or her right upon the prior death of the other individual designated thereon as owner, shown commonly in the form: “A P.O.D. [payable on death to] B.”\nCash payment means payment in currency, by check or by credit to a checking, savings or share account.\nDefinitive security means a Treasury security held in paper form.\nFederal Reserve Operating Circular means the operating circular referred to in § 321.27, issued by the Federal Reserve Banks, that provides instructions on the requirements for submitting definitive redeemed securities to a Federal Reserve Processing Site and sets forth the rights and obligations of paying agents with respect to such securities.\nFederal Reserve Processing Site means a Federal Reserve Bank (including any Branch or office thereof, as appropriate) referred to in § 321.26 to which the paying agent, or institution acting on its behalf, is instructed to transmit redeemed securities for payment pursuant to the Federal Reserve Operating Circular.\nFederal Reserve Treasury Retail Securities Site or TRS Site means a Federal Reserve Bank (including any Branch or office thereof, as appropriate) referred to in § 321.26 that is authorized to qualify paying agents and provide other fiscal agency services consistent with this part.\nLegal Representative or representative means the court-appointed (or otherwise qualified) person, regardless of title, who is legally authorized to act for the estate of a minor, incompetent, aged person, absentee, et al., the court-appointed executor or administrator, regardless of title, who is legally authorized to act for a decedent's estate; and the trustee of a personal trust estate.\nPaying agent or agent means:\n(1) A financial institution that is qualified under the provisions of this part as originally issued, or any subsequent revision, to make payment of securities, and includes branches located within the United States, its territories and possessions, and the Commonwealth of Puerto Rico; and\n(2) Any banking facilities of such institutions establishing at military installations overseas, provided the offering of such redemption services has been authorized by the Department of the Treasury.\nPresenter means the individual requesting the redemption or redemption-exchange of securities.\nRedemption and payment are used interchangeably for payment of a security in accordance with the terms of its offering and governing regulations, including redemption-exchange.\nRedemption-exchange means the authorized redemption of eligible securities for the purpose of applying the proceeds in payment for other securities offered in exchange by the Treasury.\nRegistrant means a person whose name is inscribed on a security as owner, coowner, or beneficiary.\nSecurity means a United States Savings Bond of Series A, B, C, D, E, EE, or I and/or a United States Savings Note (Freedom Share).\nTaxpayer identifying number means a social security account number or an employer identification number.","path":["Title 31—Money and Finance: Treasury","Subtitle B—Regulations Relating to Money and Finance","CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY","SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE","PART 321—PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF DEFINITIVE UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)","Subpart A—General Information"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-31.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:25Z","sha256":"9a24597a7823bba97f8b58cbfea6b45f6dff7a1d1bb1804949294d3ecb44d84b","source_id":"us-cfr","stale":true,"prev":"us/31-cfr-321.0","next":"us/31-cfr-321.2"},"notice":"GroundRules: Original legal text. Not legal advice."}