Savings Bond Alert #004

Friday, August 20th, 2004
Categorized as: Savings Bond Alerts

Treasury assists Florida storm victims

The Treasury will assist victims of Tropical Storm Bonnie and Hurricane Charley by expediting the replacement or payment of Savings Bonds. The emergency procedures are effective immediately and will allow authorized banks to redeem Series EE and I savings bonds that are less than one year, for old residents of the affected areas, through the end of September 2004.

The counties in Florida affected include: Brevard, Charlotte, Collier, DeSoto, Dixie, Duval, Glades, Hardee, Hendry, Highlands, Indian River, Lake, Lee, Levy, Manatee, Monroe, Okeechobee, Orange, Osceola, Pasco, Polk, St. Johns, Sarasota, Seminole, and Volusia.

The Treasury will also expedite the replacement of bonds lost or destroyed. Bond owners should complete form PD F-1048. There’s a link to this form on the Forgotten, Stolen, Lost, or Destroyed Savings Bonds page on our web site. Bond owners should write the word “DISASTER” on the front of their envelopes to help expedite the processing of claims.

Enhancement added to TreasuryDirect

You can now contribute funds to your TreasuryDirect account by scheduling regular payroll deductions with your employer, by setting up electronic deposits with your financial institution or by using deductions from other sources of income such as pensions or annuities.

Funds received from any of these sources go into a new kind deposit in your TreasuryDirect account that’s called a Zero-Percent Certificate of Indebtedness or C of I. In addition to havnig funds transferred into a C of I, you can redeem bonds into them, you can buy bonds with them, and you can have C of I funds transferred to your bank account.

Note that if you use this feature to schedule regular deposits into your TreasuryDirect account, you also have to set up regular purchases of Savings Bonds within Treasury Direct, or your money will just sit in the C of I, earning “Zero Percent”.

Savings-Bonds-Alert blog recaps reader questions and our answers

We have established a web site for publishing some of the questions we receive from our readers along with our answers to the questions. All identifying information is removed to protect our readers’ privacy. The site allows others to add comments and you are welcome to do so.

This week we published a piece on the Series HH fade-out column written by Humburto Cruz, one of the country’s leading financial writers. You can see why if you read his article, which we link to from the piece, Humberto gets it right.

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FDIC Insured Certificates of Deposit can pay 1 or 2% more than savings bonds when held for a similar length of time. See top CD Rates Below:

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June 1, 2010

After six years, over 400 posts, 3,680 real comments, and over 90,000 spam comments (thank you, Akismet, for making managing a blog with comments possible), I am closing public comments on I will contine to update the main articles on this site, but not the comments.

Virtually every question about Savings Bonds has been asked and answered on this site multiple times. Use the search feature (see the box in the gray area near the top of this page) or the detailed menu on the lower part of the home page to find the information you're looking for. If you have a copy of Savings Bond Advisor, you can ask me a question here.

Tom Adams

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