Department of the Treasury in carrying 
out this Act. 
(v) ACCOUNT EXCESS TRANSFERRED 
TO GENERAL FUND.—Payment to the gen-
eral fund of the Treasury of such amounts 
as the Secretary determines, from time to 
time, are in excess of those necessary to 
provide for the payments from the reunifi-
cation account which are required under 
this Act (other than this clause). 
(B) ADMINISTRATIVE COSTS LIMITED TO 
REUNIFICATION ACCOUNT EARNINGS.—No pay-
ment may be made under subparagraph (A) if 
such payment would result in the balance of the 
reunification account being less than the excess 
of— 
(i) the aggregate amounts transferred 
under paragraph (1), over 
(ii) the aggregate payments made 
from such account under paragraph (3). 
(d) WITHHOLDING OF TAX ON UNCLAIMED INTER-
EST.— 
(1) IN GENERAL.—The Secretary shall deduct 
and withhold from any amount transferred under 
subsection (c)(1) with respect to any bond a tax in 
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an amount equal to 33 percent of the amount which, 
if such bond were redeemed, would constitute inter-
est. 
(2) TREATMENT IN SAME MANNER AS WAGE 
WITHHOLDING.—Except as otherwise provided by 
the Secretary, for purposes of section 3403 and 
3404 of the Internal Revenue Code of 1986 and for 
purposes of so much of subtitle F of such Code (ex-
cept section 7205 of such Code ) as relates to chap-
ter 24 of such Code, payments to any person under 
subsection (c)(3) with respect to any bond subject to 
withholding under this subsection shall be treated as 
if such payments were wages paid by an employer to 
an employee. 
(e) REPORT TO CONGRESS.—The Secretary shall an-
nually report to the Congress regarding the program es-
tablished under this section. Such report shall include a 
description of the actions taken under this section and the 
amount and number of bonds redeemed pursuant to the 
program during the preceding fiscal year. The report for 
fiscal year 2016 shall include the recommendations of the 
Secretary regarding the steps which should be taken with 
respect to any specified unredeemed savings bonds still 
outstanding and the balance of the reunification account. 
(f) DEFINITIONS.—For purposes of this section: 
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(1) REUNIFICATION ACCOUNT.—The term ‘‘re-
unification account’’ means the account established 
under subsection (c)(2). 
(2) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury. 
(3) 
SPECIFIED
UNREDEEMED
SAVINGS 
BONDS.—The term ‘‘specified unredeemed savings 
bond’’ means each outstanding series E bond, except 
that such bond shall not be treated as a specified 
unredeemed savings bond until the later of— 
(A) the end of the 1-year period beginning 
on the date that such bond ceases to accrue in-
terest, or 
(B) the date of the enactment of this Act. 
(4) STATE.—The term ‘‘State’’ includes the 
District of Columbia and any territory or possession 
of the United States. 
(5) STATE
COORDINATOR.—The term ‘‘State 
coordinator’’ means the eligible entity which is deter-
mined by the Secretary, after consultation with the 
States, to be best suited to carry out the activities 
described in subsection (b). For purposes of the pre-
ceding sentence, the term ‘‘eligible entity’’ means 
any State (including any representative of a State) 
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or the National Association of Unclaimed Property 
Administrators. 
(g) CONFORMING AMENDMENT.—Subsection (b) of 
section 1324 of title 31, United States Code, is amended 
by striking ‘‘and’’ at the end of paragraph (1), by striking 
the period at the end of paragraph (2) and inserting ‘‘; 
and’’, and by adding at the end the following new para-
graph: 
‘‘(3) refunds due from the credit provision of 
section 2(d)(2) of the Unredeemed U.S. Savings 
Bond Return Act of 2006.’’. 
Æ 
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