Effective Dates: 02/02/2018 - Present Previous | Next

TN 21 (02-18)

GN 02403.015 Processing Savings Bonds Received as Conserved Funds in the Field Office

A. Policy for processing savings bonds

The Field Office (FO) may receive United States savings bonds returned as conserved funds from a former representative payee. Savings bonds received as conserved Title II and Title XVI funds are held in the FO until the individual is directly paid or a new representative payee is selected. For instructions on transferring savings bonds to a new representative payee, see GN 00603.060.

B. Procedure for processing savings bonds

Follow these instructions for savings bonds received in the FO:

1. Interviewer

Enter the face value of the savings bond, the serial number, series, remittance type of “S”, and reason “C” into the automated receipt system. Give the receipt to remitter and give the remittance to remittance clerk for safekeeping.

REFERENCE: For how to obtain automated FO receipt, see MS DMS 003.006 and MS DMS 003.007.

2. Remittance clerk

Follow these procedures:

  1. a. 

    At end of day, obtain Field Office Daily Receipt Listing (FODRL) to list savings bonds for conserved funds.

    REFERENCE: For how to obtain FODRL, see MS DMS 004.009.

  2. b. 

    Hand carry FODRL to remittance supervisor.

3. Remittance supervisor

Follow these procedures:

  1. a. 

    Review FODRL and savings bonds to ensure they are in complete agreement.

  2. b. 

    Record any discrepancies and resolve them with the remittance clerk, or interviewer, or both.

  3. c. 

    Ensure that savings bonds for conserved funds are in a secure location until a new representative payee is developed. For instructions regarding transferring savings bonds to the beneficiary or the newly selected representative payee, see GN 00603.060.

To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0202403015
GN 02403.015 - Processing Savings Bonds Received as Conserved Funds in the Field Office - 02/02/2018
Batch run: 02/02/2018
Rev:02/02/2018