31 CFR § 321.5 - Termination of qualification.
---
identifier: "/us/cfr/t31/s321.5"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 321.5 - Termination of qualification."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "321.5"
section_name: "Termination of qualification."
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "321"
part_name: "PAYMENTS BY BANKS AND OTHER FINANCIAL INSTITUTIONS OF DEFINITIVE UNITED STATES SAVINGS BONDS AND UNITED STATES SAVINGS NOTES (FREEDOM SHARES)"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 321; 31 U.S.C. 3105, 3126."
regulatory_source: "53 FR 37511, Sept. 26, 1988, unless otherwise noted."
cfr_part: "321"
---
# 321.5 Termination of qualification.
(a) *By the Treasury.* The Secretary of the Treasury, or a designee, may authorize a TRS Site to terminate the qualification of any paying agent at any time, following prior written notice of such action to the agent.
(b) *At request of paying agent.* A TRS Site will terminate the qualification of a paying agent upon its written request, provided the agent renders a final accounting for all redeemed securities and is found to have fully complied with the terms of its agreement and the applicable regulations and instructions.
(c) *Reservation.* Termination of the qualification as paying agent of any institution shall not prejudice the right of the Treasury to recover the amounts of any erroneous payment(s) made by the institution.
[53 FR 37511, Sept. 26, 1988, as amended at 59 FR 10537, Mar. 4, 1994; 77 FR 16166, Mar. 20, 2012]