logo

Date: November 22, 2010

Bulletin Number: 1036

line

Subject

New U.S. Treasury Securities Direct Deposit Form AC-3245

Purpose

To inform agencies that a new form has been created to enable employees to purchase electronic U.S. Treasury Securities directly from the Treasury via direct deposit.

Employees may now purchase electronic Series EE and Series I Savings Bonds in addition to Treasury bills, notes, bonds and Treasury-Inflation Protected Securities (TIPS) directly from the Treasury.
  

Affected Employees

Employees electing to enroll in the U.S. Treasury’s TreasuryDirect® Program.

Effective Date(s)

Immediately.

Background

As announced in Payroll Bulletin No. 1015, the U.S. Department of the Treasury is eliminating the option to purchase paper savings bonds through payroll deduction as part of a “go green, save green” initiative and is encouraging employees to purchase electronic Treasury securities via direct deposit.

Employee Actions

 

 

To use TreasuryDirect®, employees must have internet access and an e-mail address in order to establish an online account.

Employees can go to TreasuryDirect’s website at www.treasurydirect.gov to complete the online account application process and obtain the information necessary to complete Form AC-3245.

OSC Actions

OSC has created Form AC-3245  to be used exclusively for TreasuryDirect® direct deposit transactions.

Unlike Form AC-2772 Direct Deposit Form for NYS Employees, this new form does not require the employee to attach a copy of a voided personal check or obtain a financial institution representative’s signature.

Agency Actions

Agencies must process Form AC-3245 in the same manner as Form AC-2772 as outlined below.

When entering the new direct deposit information select the following:

  1. Open the “Request Direct Deposit” page. (Path: Payroll for North America>Employee Pay Data USA>Request Direct Deposit)
  2. Enter the employee’s EmplID in the search box.
  3. Click Search.
  4. Insert a new row if necessary.
  5. Enter the current payroll period begin date or Hire Date, whichever is later in the “Effective Date” field.
  6. Verify that the *Status field indicates “Active”. If not, use the drop down menu to select it.
  7. Enter TreasuryDirect’s preprinted bank transit number (051736158) in the BankID: field. 
  8. Enter the employee’s TreasuryDirect® account number in the Account #: field. The account number can consist of an alphanumeric combination but must be 10 characters in length.  Agencies should not process forms submitted by employees that have account #’s that have fewer than or more than 10 characters.
  9. Enter “Savings” in the Account Type: field. Do not select “Checking"
  10. Enter “Amount” in the *Deposit Type: field.
  11.  Enter the amount provided by the employee in the Amount: field. The minimum amount is $1.00 per pay period. Requests to deposit amounts less than $1.00 should not be processed and should be returned to the employee.
  12. The Priority number entered in the Priority field must be lower than 999.
  13. Click Save

Employee
Check/AdviceStatements

The Direct Deposit Distribution section of Employee check/advice statements will display a separate line for TreasuryDirect® deposits that are easily identified by TreasuryDirect’s Transit #051736158 and the Account Type of Savings.

Questions Questions regarding this bulletin may be directed to the Payroll Deductions mailbox.