[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: 31CFR352.8]

[Page 315]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 352--OFFERING OF UNITED STATES SAVINGS BONDS, SERIES HH--Table of Contents
 
Sec. 352.8  Reinvestment of matured Series H bonds.

    (a) General. The proceeds of matured Series H bonds, whether 
purchased for cash or issued in exchange for other securities, may be 
reinvested in Series HH bonds. Tax deferral granted to interest earned 
on securities exchanged for Series H bonds may not be continued when the 
Series H bonds reach final maturity and their proceeds are reinvested in 
Series HH bonds. The amount appearing in the legend on a matured Series 
H bond on which tax deferral was granted must be reported for Federal 
income tax purposes for the year of such final maturity.
    (b) Rules. The reinvestment transaction will be subject to the rules 
governing exchanges, as set forth in Sec. 352.7 of this Circular, and 
the Series HH bonds issued on reinvestment will be identical in all 
respects with those issued in a non-tax-deferred exchange.