31 CFR § 363.59 - What is a payroll savings plan?

---
identifier: "/us/cfr/t31/s363.59"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 363.59 - What is a payroll savings plan?"
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "363.59"
section_name: "What is a payroll savings plan?"
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "363"
part_name: "REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT"
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. 3102,  31 U.S.C. 3121,"
regulatory_source: "67 FR 64286, Oct. 17, 2002, unless otherwise noted."
cfr_part: "363"
---


# 363.59 What is a payroll savings plan?

A payroll savings plan is an automatic method of purchasing savings bonds. (See the definition in § 363.6.) You may open your payroll savings plan by selecting an amount, series, and registration for your savings bond purchases using functionality in your TreasuryDirect® account. Each bond purchase must be in a minimum amount of $25 with additional one-cent increments above that amount, up to a maximum amount of $5000, in any one transaction. The series may be either a Series EE or Series I savings bond. The registration may be any authorized form of registration for an electronic savings bond. You must also initiate a request to your employer or your financial institution to send credits on a recurring basis to your payroll savings plan through the ACH method to purchase a payroll zero-percent certificate of indebtedness. (See Subpart D for more information about a payroll zero-percent certificate of indebtedness.) When you have accumulated a sufficient amount of payroll zero-percent certificate of indebtedness to purchase a savings bond in the amount, series, and registration that you selected, the TreasuryDirect® system will automatically redeem your payroll zero-percent certificate of indebtedness and purchase your selected savings bond.

[75 FR 70816, Nov. 19, 2010]