Become a Paying Agent for U.S. Savings Bonds
Thank you for your interest in becoming a paying agent for U.S. Savings Bonds. We are ready to work with you to make this a smooth and easy process. Below are the steps to take to become a paying agent. If you need advice or assistance at any step of the process, contact the Minneapolis Treasury Retail Securities site.
Image-enabled Savings Bond Processing
Redeemed paper savings bonds may be sent via image cash letters (ICLs) using the FedForward® Service. The Federal Reserve Banks now accept image-eligible redeemed savings bonds in FedForward ICLs. Information regarding image-enabled processing of redeemed paper savings bonds, including Frequently Asked Questions, can be found via the Image-enabled Savings Bond Processing page.
For resources to assist in redeeming savings bonds, visit the Savings Bonds News You Can Use page. We encourage you to bookmark the page and check back often for updated content.
Step 1 - Review Service Options
The following links will help you learn more about the U.S. Savings Bonds Program:
- Learn more about how to become a paying agent in the New Agent Welcome Book (PDF). It includes an Agent Qualification Checklist and the forms you need to complete in order to qualify your institution. You can also view the checklist and forms individually in Step 3 below.
- Review Savings Bonds for Financial Institutions service information.
- Read Savings Bonds: An easy addition to your financial portfolio (PDF), a brochure that describes the processing options associated with paying U.S. Savings Bonds.
Step 2 - Review Rules and Regulations
Treasury regulations governing the U.S. Savings Bonds Program (Off-site) 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
- Qualification Checklist (PDF)
- Agent Profile Form (PDF)
- PD F 3880 - Paying Agent Application (PDF)
- PD F 3902 - Application Agreement - Circular 888 (PDF)
Return the completed forms to the Minneapolis Treasury Retail Securities Site.
Step 4 - Make Plans for Redeeming Bonds
Once you have been qualified as a paying agent, you will need to make plans for submitting your redeemed bonds.
Image-Enabled Savings Bond Processing
The Federal Reserve Banks accept image-eligible savings bonds in mixed and separately sorted FedForward ICLs and separately sorted paper cash letters. While image-enabled savings bond processing is strongly preferred, paper savings bond deposits are also accepted. Financial institutions that are not FedForward services depositors, either directly or through a processor or correspondent, can contact their relationship manager or Check Services Customer Support at P: (877) 372-2457 to begin the process of signing up for these services.
For more information, visit the Image-enabled Savings Bond Processing page.
Tools for Redeeming Bonds
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 the Minneapolis Treasury Retail Securities site.
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 website (Off-site).