[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR315.6]

[Page 167-168]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 315--REGULATIONS GOVERNING U.S. SAVINGS BONDS, SERIES A, B, C, D, E, F, G, H, J, AND K, AND U.S. SAVINGS NOTES--Table of Contents
 
                         Subpart B--Registration
 
Sec. 315.6  Restrictions on registration.

    (a) Natural persons. Only an individual in his or her own right may 
be designated as coowner or beneficiary along with any other individual, 
whether on original issue or reissue, except as provided in 
Sec. 315.7(g).
    (b) Residence. The designation of an owner or first-named coowner is 
restricted, on original issue only, to persons (whether individuals or 
others) who are--
    (1) Residents of the United States, its territories and possessions, 
the Commonwealth of Puerto Rico, and the former Canal Zone;
    (2) Citizens of the United States residing abroad;
    (3) Civilian employees of the United States or members of its armed 
forces, regardless of their residence or citizenship; and

[[Page 168]]

    (4) Residents of Canada or Mexico who work in the United States but 
only if the bonds are purchased on a payroll deduction plan and the 
owner provides a taxpayer identifying number.

A nonresident alien may be designated coowner or beneficiary or, on 
authorized reissue, owner, unless the nonresident alien is a resident of 
an area with respect to which the Department of the Treasury restricts 
or regulates the delivery of checks drawn against funds of the United 
States or its agencies or instrumentalities. See Department of the 
Treasury Circular No. 655, current revision (31 CFR part 211). 
Registration is not permitted in any form which includes the name of any 
alien who is a resident of any restricted area.
    (c) Minors. (1) Minors may purchase with their wages, earnings, or 
other funds belonging to them and under their control bonds registered 
in their names alone or with a coowner or beneficiary.
    (2) Bonds purchased by another person with funds belonging to a 
minor not under legal guardianship or similar fiduciary estate must be 
registered, without a coowner or beneficiary, in the name of the minor 
or a natural guardian on behalf of a minor.
    (3) Bonds purchased with funds of another may be registered to name 
the minor as owner, coowner, or beneficiary. If the minor is under legal 
guardianship or similar fiduciary estate, the registration must include 
an appropriate reference to it.
    (4) Bonds purchased as a gift to a minor under a gifts-to-minors 
statute must be registered as prescribed by the statute and no coowner 
or beneficiary may be named.
    (5) Bonds purchased by a representative of a minor's estate must be 
registered in the name of the minor and must include in the registration 
an appropriate reference to the guardianship or similar fiduciary 
estate. Bonds purchased by a representative of the estates of two or 
more minors, even though appointed in a single proceeding, must be 
registered in the name of each minor separately with appropriate 
reference to the guardianship or similar fiduciary estate.
    (d) Incompetents. Bonds may be registered to a name as owner, 
coowner, or beneficiary an incompetent for whose estate a guardian or 
similar representative has been appointed, except that a coowner or 
beneficiary may not be named on bonds purchased with funds belonging to 
the incompetent. The registration must include appropriate reference to 
the guardianship or similar fiduciary estate. Bonds should not be 
registered in the name of an incompetent unless there is a 
representative for his or her estate, except as provided in Sec. 315.64.