31 CFR 339.4 - Exchanges without tax deferral.

§ 339.4 Exchanges without tax deferral.
Exchanges by owners who:
(a) Report the interest on all of their securities annually for Federal income tax purposes, or
(b) Who elect to report all such interest in the year of the exchange, or
(c) Who are tax-exempt under the provisions of the Internal Revenue Code of 1954 and the regulations issued thereunder,
Will be handled in the same manner and will be governed by the rules prescribed for exchanges under § 339.3. However, the Series H bonds will not bear the legend referred to in § 339.3(b)(5). Any part of the cash adjustment received which represents interest previously reported for Federal income tax purposes need not be accounted for. The Series H bonds may be registered in the name of the owner of the securities submitted in exchange in any authorized form of registration.

Title 31 published on 2014-07-01

no entries appear in the Federal Register after this date.

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United States Code
U.S. Code: Title 31 - MONEY AND FINANCE