Bureau Of The Public Debt Aids Savings Bonds Owners Affected By Flooding in Minnesota and Iowa
FOR IMMEDIATE RELEASE
June 26, 2002
The Bureau of Public Debt took action to assist victims of flooding in Minnesota and Iowa by expediting the replacement or payment of United States Savings Bonds for owners in the affected areas. The emergency procedures are effective immediately for paying agents and owners in those areas of Minnesota and Iowa affected by the storms. These procedures will remain in effect through the end of August 2002.
Public Debt's action waives the normal six-month minimum holding period for Series EE and Series I savings bonds presented to authorized paying agents for redemption by residents of the affected area. Most financial institutions serve as paying agents for savings bonds.
Minnesota counties involved are: Beltrami, Kittson, Koochiching, Lake of the Woods, Marshall, Norman, Pennington, Polk, Red Lake and Roseau. In Iowa the counties are Clayton, Clinton, Delaware, Dubuque, Jackson, Jones and Linn. Should additional counties be declared disaster areas the emergency procedures for savings bonds owners will go into effect for those areas.
Public Debt will also expedite the replacement of bonds lost or destroyed. Bond owners should complete form PD-1048, available at most financial institutions or by writing the Minneapolis Federal Reserve Bank's Savings Bond Customer Service Department, 90 Hennepin Avenue, Minneapolis, Minnesota 55401; phone (612) 204-5000. This form can also be downloaded from Public Debt's website at: www.publicdebt.treas.gov. Bond owners should include as much information as possible about the lost bonds on the form. This information should include how the bonds were inscribed, social security number, and approximate dates of issue, bond denominations and serial numbers if available. A notary public or an officer of a financial institution must certify the completed form. Completed forms should be forwarded to Public Debt's Office of Investor Services located at 200 Third St., Parkersburg, West Virginia 26106-1328. Bond owners should write the word “DISASTER” on the front of their envelopes, to help expedite the processing of claims.