§ 363.165. What happens when I convert a savings bond that is registered in my name as a single owner, either coowner, an owner with a beneficiary, or an entity?
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/us/cfr/t31/s§ 363.165·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Unmatured savings bond. When the conversion is approved, an unmatured savings bond that is registered in the name of the TreasuryDirect ® account owner as a single owner, either coowner, an owner with beneficiary, or an entity, will be released to the account owner's conversion linked account.
(b)Matured savings bond. A savings bond that has reached final maturity and is registered in the name of the TreasuryDirect account owner as a single owner, either coowner, an owner with beneficiary, or an entity, will be converted to a book-entry savings bond and automatically redeemed. The redemption proceeds will be used to purchase a zero-percent certificate of indebtedness in the account owner's name in the primary account. \[74 FR 19420, Apr. 29, 2009\]