3.1) What is
TreasuryDirect for Treasury Bills, Notes, Bonds, and TIPS?
As it relates to Treasury bills, notes, bonds, and TIPS, TreasuryDirect
is a program in which you buy
securities directly from the U.S. government and/or hold them in an account with the
government. You buy and/or hold them with the government rather than using a bank or broker. TreasuryDirect is intended for
investors who buy securities at original issue and hold them
until they mature. It is popular with individual
investors, especially ones who aren't prolific securities traders.
3.2) How do I buy Treasury bills, Treasury notes, and TIPS in
TreasuryDirect?
Treasury securities are sold at auctions. To buy a security, you must
place a bid. Depending on circumstances, you can place your bid
through TreasuryDirect by
three means:
a paper form called a tender, this web site, and our automated phone
system. To determine which of those options are available to you,
you must
first decide whether you want to make a competitive or noncompetitive
bid.
Noncompetitive bid. Most TreasuryDirect
investors choose this option. If you bid this way, we guarantee you
will receive the security you desire. By bidding noncompetitively you agree to accept
whatever rate or yield is determined at the auction.
Competitive bid. In this form of bidding, you specify the
rate or yield you will accept. We may
reject a competitive bid, grant it in less than the amount you
requested,
or grant it in the full amount you requested.
Means of bidding. If you
are an existing TreasuryDirect customer, you can place a
noncompetitive bid by a tender, this web site, or our automated phone
system. If you
aren't yet one of our account holders, or if you are placing a
competitive bid, you must use a tender.
3.3) Can I conduct business on this web site?
Yes you can, if you have an account to hold Treasury bills, notes,
bonds, and TIPS in
TreasuryDirect. If you have
such an account,
you can use
Electronic
Services for Treasury Bills, Notes, and Bonds to
make noncompetitive purchases, schedule reinvestments,
obtain account
balances and detailed CUSIP balances, request Statements of
Account and duplicate
1099-INT forms, and change the mailing address and phone number on
your account.
3.4) What services do you provide over the phone?
Our toll-free line,
800-722-2678, provides a variety of
options,
including
Electronic
Services for Treasury Bills, Notes, and Bonds. Using
this automated system, existing customers can noncompetitively buy
securities, schedule reinvestments, request a Statement of
Account, check account balances, order
a duplicate 1099-INT form, and pay their account maintenance fee
(applied only to accounts of more than $100,000).
Also, existing and prospective customers can use 800-722-2678 to
obtain recorded information on
our securities and auctions,
order forms and publications, and, from 8 a.m. to 8 p.m. Eastern
Time, Monday through Friday, except holidays, speak to a customer service
representative.
3.5) How can I obtain forms?
You have a variety of options:
3.6) What are the bidding deadlines?
The deadlines will be stated in the auction announcement. Though they
vary, they generally are as follows.
Bids submitted over the worldwide web or phone --
only noncompetitive
bids can be made this way -- must be received before 12:00 Noon
Eastern
Time on auction day. (Tenders are officially
accepted when you receive
a confirmation number. For web bids, the time of day is
determined by
the time displayed on the web page. For phone bids, the
time of day is
kept by the TreasuryDirect system.)
Competitive bids submitted by mail must be received prior
to 1 p.m.
Eastern Time on auction day.
Noncompetitive bids submitted by mail must be postmarked by
the day
before the auction and received by the issue date of the security.
3.7) What happens to late bids?
Electronic
Services for Treasury Bills, Notes, and Bonds won't allow
bids to be submitted
late, so this question applies only to paper tenders.
For a note or TIPS . . . If a tender is postmarked
timely but arrives late, we'll return it to you.
For a 13-week or 26-week bill . . . If a tender is postmarked
timely but arrives late, we'll place it in the next auction.
3.8) Prior to their maturity, can I sell marketable
Treasury securities held
in TreasuryDirect?
Yes. You can do this through
Sell Direct or through a bank or broker. With Sell Direct we do all the
work, obtaining quotes from different brokers and selling at the
highest
price offered. All you do is pay a nominal fee.
3.9) When I go south for the winter, will the Postal Service
forward my TreasuryDirect mail?
Yes. All you need to do is submit a temporary change of address
to the Postal Service. You can do this on the
Postal Service's web site or by filling out a form at your post office. If you submit a temporary address change to the
Postal Service,
the mail we send
to your primary address will be forwarded to your temporary
address.
If you prefer, you can change the address on your
account with us. You can make this change
online. Or, if you prefer,
call
800-722-2678 and talk to one of our customer service representatives
or send your
customer contact center
a Transaction Request (PD F 5178).
(Download
or order the form.)
3.10) Does any print publication thoroughly explain
TreasuryDirect?
Yes, the TreasuryDirect Investor Kit (PD P 009)
tells everything
you'll probably ever need to know about Treasury bills, notes, bonds, and TIPS held in TreasuryDirect.
To obtain your copy,
download or order it from this web site;
or request a copy by calling 800-722-2678 and speaking to a customer
service representative,
by sending an e-mail to
IS-MAB@bpd.treas.gov, or by writing your
customer contact center.