31 CFR § 342.5 - Limitations.
---
identifier: "/us/cfr/t31/s342.5"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 342.5 - Limitations."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "342.5"
section_name: "Limitations."
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "342"
part_name: "OFFERING OF UNITED STATES SAVINGS NOTES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "31 U.S.C. 3103, 5 U.S.C. 301."
regulatory_source: "57 FR 14282, Apr. 17, 1992, unless otherwise noted."
cfr_part: "342"
---
# 342.5 Limitations.
(a) *Purchases*—(1) *Payroll savings plans.* Under a payroll savings plan, withholdings for notes could not exceed the ratio of $1.08 for the notes to $1 for the Series E bonds and could not exceed $20.25 per weekly pay period, or $40.50 per biweekly or semi-monthly pay period, or $81 per monthly pay period.
(2) *Others.* In combination purchases of notes and Series E bonds, other than under a payroll savings plan, purchases of notes could not exceed $350 (face amount) a quarter, and in no event could the annual limitation of $1,350 (face amount) be exceeded.
(b) *Holdings.* The face amount of savings notes originally issued to any one person during any one calendar year, was limited to $1,350.