---
kind: "section"
citation: "31 C.F.R. § 363.165"
title: "31"
number: "363.165"
heading: "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?"
url: "https://uscodex.org/cfr/31/363.165"
---

# §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?

- (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.

## Notes

### Amendments

[74 FR 19420, Apr. 29, 2009]

### Source

Source: 70 FR 14943, Mar. 23, 2005, unless otherwise noted.

### Authority

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3102, et seq.; 31 U.S.C. 3121, et seq.

### Source

Source: 67 FR 64286, Oct. 17, 2002, unless otherwise noted.

### Amendments

[74 FR 19420, Apr. 29, 2009]