---
kind: "section"
citation: "31 C.F.R. § 342.5"
title: "31"
number: "342.5"
heading: "Limitations."
url: "https://uscodex.org/cfr/31/342.5"
---

# §342.5. Limitations.

- (a) **Purchases—**
  - (1) **Payroll savings plans.** Under a payroll savings plan, withholdings for notes could not exceed the ratio of $1.08 for the notes to $1 for the Series E bonds and could not exceed $20.25 per weekly pay period, or $40.50 per biweekly or semi-monthly pay period, or $81 per monthly pay period.
  - (2) **Others.** In combination purchases of notes and Series E bonds, other than under a payroll savings plan, purchases of notes could not exceed $350 (face amount) a quarter, and in no event could the annual limitation of $1,350 (face amount) be exceeded.
- (b) **Holdings.** The face amount of savings notes originally issued to any one person during any one calendar year, was limited to $1,350.

## Notes

### Authority

Authority: 31 U.S.C. 3103, 5 U.S.C. 301.

### Source

Source: 57 FR 14282, Apr. 17, 1992, unless otherwise noted.