The investor will be issued a combined year-end statement and Form 1099 showing the reportable interest. It must be reported annually and a Form 1099 will be mailed annually to each note holder. Once a term note reaches the maturity date it is automatically renewed at the then prevailing rates unless surrendered for redemption. Although on term notes submitted for redemption prior to maturity, CEF will charge a penalty for early withdrawal. The money becomes a part of the investor's estate and would be subject to probate along with the balance of the estate.
Stamps are available to the congregations on consignment.
The congregation must first complete the Consignment form and send it to the Texas District Office before stamps can be sent to the congregation. The children then purchase their stamps through the congregation. The stamps and form should be mailed to the Texas District Office. The custodian would have to make arrangements with the District Office to have the account changed to the name of the individual. Yes, a term note may be secured in the name of the minor.