§ 344.9. How do I redeem a Demand Deposit security?
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/us/cfr/t31/s§ 344.9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)When must I notify Treasury to redeem a security? Demand Deposit securities can be redeemed at the owner's option, if we receive a request for redemption not less than:
(1)One business day before the requested redemption date for total redemptions by an owner of \$10 million or less;
(2)Three business days before the requested redemption date for total redemptions by an owner of more than \$10 million but less than \$500 million; and
(3)Five business days before the requested redemption date for total redemptions by an owner of \$500 million or more.
(b)Can I request partial redemption of a security balance? You may request partial redemptions in any amount. If your account balance is less than \$1,000, it must be redeemed in total.
(c)Do I have to submit a request for redemption? Yes. An official authorized to redeem the securities must submit an electronic request through SLGSafe. The request must show the Taxpayer Identification Number of the issuer, the security number, and the dollar amount of the securities to be redeemed. Fiscal Service must receive the request by 3 p.m., Eastern time on the required day. You cannot cancel the request. \[70 FR 37911, June 30, 2005, as amended at 89 FR 15450, Mar. 4, 2024\]