31 CFR 346.1 - Description of bonds.
(a) Investment yield (interest). United States Individual Retirement Bonds, hereinafter sometimes referred to as Individual Retirement Bonds, will be issued at par. The investment yields (interest) are as follows:
(1) Bonds with issue dates of January 1, 1975, through July 1, 1979 - 6 percent per annum, compounded semiannually (see Table of Redemption Values in the appendix).
(2) Bonds with issue dates of August 1, 1979, through October 1, 1980 - 6.5. percent per annum, compounded semiannually (see Table A in the appendix).
(3) Bonds with issue dates of November 1, 1980, through September 1, 1981 - 8 percent per annum, compounded semiannually (see Table B).
(4) Bonds with issue dates of October 1, 1981, or thereafter - 9 percent per annum, compounded semiannually (see Table C).
(b) Term. The maturity date of any bond issued under this circular shall be the first day of the month in which the registered owner thereof has attained the age of 70 1/2 years, or five years after the date of his death, but no later than the first day of the month in which he would have attained the age of 70 1/2 years, if he had lived. Unless sooner redeemed in accordance with these regulations, the investment yield on a bond will cease on the interest accrual date coinciding with, or, where no such coincidence occurs, the interest accrual date next preceding:
(1) The first day of the seventh (7th) month following the 70th anniversary of the birth of the person in whose name it is registered, or
(2) The first day of the sixtieth (60th) month following the date of death of the person in whose name it is registered, except that such date shall be no later than the date on which he would have attained the age of 70 1/2 years, had he lived.
(c) Denominations - issue date. Individual Retirement Bonds will be available only in registered form and in denominations of $50, $75, $100 and $500. At the time of issue, the issuing agent will enter in the upper right-hand portion of the bond the issue date (which shall be the first day of the month and year in which payment of the purchase price is received by an authorized issuing agent), and will imprint the agent's validating stamp in the lower right-hand portion. The issue date, as distinguished from the date in the agent's validating stamp, will determine the date from which interest will begin to accrue on the bond. An Individual Retirement Bond shall be valid only if an authorized issuing agent receives payment therefor, duly inscribes, dates, stamps, and delivers it.