1. if you're an existing TreasuryDirect customer, buy them over the worldwide web or phone using Electronic Services for Treasury Bills, Notes, and Bonds, or
2. whether you're an existing or new customer, buy securities by completing and mailing the paper form, Treasury Marketable Securities Tender (PD F 5381).

This page provides step-by-step instructions for completing the paper form. (For instructions in greater detail, obtain the form Treasury Marketable Securities Tender Instructions [PD F 5382].)

NOTE: The Treasury Marketable Securities Tender can serve another purpose besides being the instrument for buying bills, notes, and TIPS. To own a Treasury bill, note, or TIPS in TreasuryDirect, you must open an account with us. If you don't have an account, submitting a Treasury Marketable Securities Tender automatically opens one for you. Your other option for opening an account is to submit a New Account Request (PD F 5182).

Instructions for Treasury Marketable Securities Tender

1. Bid Information. In this part of the form, you show at least two things:

• The par amount of the security you wish to buy. The minimum bid for any security is $1,000, and, as the form indicates, bids must be made in multiples of $1,000. In a single auction, you may bid noncompetitively for up to $5 million for any particular bill, note, or TIPS. For maximum limits on competitive bids, call 800-722-2678 and choose Option No. 5 for a customer service representative.
• Whether you are bidding competitively or noncompetitively. Noncompetitive bidding is the choice of most TreasuryDirect investors; by bidding this way, you are assured of receiving the security you wish, and in the full amount you wish. On the other hand, competitive bids can be rejected in full or in part.
• If you bid competitively, the rate or yield you want to receive. Bids must be expressed to three decimal places. Bids for bills must end in 0 or 5.

2. Account Number. If you want to add the new security to an existing account, enter your account number here. If you don't have an account or you want to open another one, leave this blank and we will establish one for you.

3. Taxpayer ID Number. For accounts of individuals, this number is the Social Security Number of the first person named on the account. For partnerships, companies, organizations, and trusts, the Taxpayer ID Number is the Employer Identification Number assigned by the IRS.

4. Term Selection. In this box you will indicate whether you want a bill, note, or TIPS, and the term you desire. If you select a 13- or 26-week bill, you also can show the number of times, if any, you wish to automatically reinvest it. If the version of the tender you are using doesn't list the various terms for TIPS (5 years, 10 years, 20 years), please write in the term you want.

5. Account Name. If you already have an account with us for the purchase of Treasury bills and notes, you may add your new security to that account. If you haven't established an account, you have a variety of registration options, depending on how you want to set up ownership of the security. (These options are explained on the back of the tender, as well as at the web page accessed by the link above.)

6. Address.

7. Telephone Numbers.

8. Payment Information. All payments to investors are made by direct deposit. In this section of the form, you designate the financial institution account to which you want us to make payments. You need to provide a routing number (your financial institution's ABA identifying number), your financial institution's name, your account number at the financial institution, the name on the account, and the type of account (checking or savings).

9. Purchase Method. If you already have an account with us for the purchase of Treasury bills, notes, and TIPS, you can use Pay Direct, the convenient service in which we debit your bank account for the purchase price of the security. If you don't already have an account with us, you can't use Pay Direct; you have to pay for your first purchase using a check or matured Treasury securities. The check or securities must be mailed with the tender. Specifically, here are the acceptable methods of payment (other than Pay Direct):

• For bills, you may pay by a certified personal check, cashier's check, matured Treasury securities, or a check issued to you by any Federal Reserve Bank or the Treasury Department.

• For notes or TIPS, you may pay by any of the means shown above for bills, or by a personal check.

Personal and financial organization checks should be made payable to TreasuryDirect.

10. Authorization. Here, you sign the form, affirming the information you're providing is true, plus certifying that your Taxpayer Identification Number is correct and that you aren't subject to backup withholding.

Final Matters

You can download or order any form mentioned on this page: Treasury Marketable Securities Tender, Treasury Marketable Securities Tender Instructions, or New Account Request. Or, you can order forms by contacting your customer contact center.

After you complete a tender, mail it to your customer contact center. To be considered for an offering:

• A tender with a competitive bid must be received by the time designated in the offering announcement.

• A tender with a noncompetitive bid must be postmarked no later than midnight on the day before the auction and received on or before the issue date of the security.

What happens if your tender is late? Your bid won't be entered into that auction. However, in one case we will enter your bid into the next week's auction: if you submit a noncompetitive tender for a 13- or 26-week bill and the mailing is postmarked on time but doesn't arrive on time.

If your bid is accepted, we will send you a Statement of Account confirming the purchase of the security. If the price of the security is less than the amount you paid, we will deposit a discount payment into your bank account. If the price of the security is greater than the amount you paid, we will mail you a Payment Due Notice showing the premium amount due or, if you use Pay Direct, we'll deduct the difference from your account.