how to close treasurydirect account

In order to complete our easy, online application, you will need the following items on hand: a Taxpayer Identification Number (Social Security Number for an individual or Employer Identification Number for an entity), bank routing number and account number (the checking or savings account you'd like to use to set up your TreasuryDirect account), IRS Name Control (for an entity), valid e-mail address, and a browser that supports 128-bit encryption. A manager for an entity account with a Conversion Linked account can exchange paper bonds into the entity form of registration. May I move Treasury marketable securities from my Legacy TreasuryDirect account into my new TreasuryDirect account? If you select a non-business day as your purchase date, we will change it to the next available business day. By selecting this option you are agreeing to let us process and store the following personal information: your email address, name and the text of your request emails. Cash Management Bills are special Bills offered occasionally as Treasury borrowing needs warrant, and may not be purchased in TreasuryDirect. A 3-month interest penalty will apply to bonds cashed before five years. This will take you to the Change Password page, where you will be able to make your change. If . Minor accounts are not available in entity accounts. Bids lower than the accepted rate, yield, or spread receive the highest accepted rate. Do I have to pay a fee to convert my bonds? All securities in an entity account carry a registration identical to the entity account name. The registration for securities held in an entity account must accurately reflect the name of the entity. You may also select your Zero-Percent C of I as the source of funds. First, establish payroll deduction through your employer or direct deposit from your bank. How do I redeem savings bonds being held in my TreasuryDirect account? If you wish to see the auction results immediately after the auction closes, see. It is intended to be used as a source of funds for purchasing savings bonds through the Payroll Savings Plan. It encrypts all of your personal information so that it cannot be read as the information travels over the Internet. Is TreasuryDirect allowed to ask for personal information? For site security purposes, as well as to improve our site, we use software that can monitor network traffic and identify unauthorized attempts to cause damage, upload, or change information. SSL works by using a private, mathematical key to encrypt (or scramble) data that's transferred between your Web browser and the Web site you're visiting. Your investment is always protected from inflation because the interest rate is applied to the adjusted principal, so if inflation occurs, your interest earned increases. Yes. What information does TreasuryDirect automatically gather? Treasury calculates auction results to the sixth decimal place. Try to base your password on a memory aid. For example, if you had purchased an EE or an I Bond on July 10, the issue date would be July 1. Under the heading Manage My Securities click "Edit" a registration. If funds in your C of I are insufficient to cover the security purchase, the purchase will be canceled. No. The maximum amount for a noncompetitive purchase is $10 million in a single auction. You can only buy $10,000 worth of EE Bonds per person (individual or entity) each calendar year through TreasuryDirect. You may not purchase Treasury marketable securities with a gift registration. NOTE: Legacy TreasuryDirect, a separate system available since 1986, for marketable Treasury securities only, is being. By continuing to hold the bond, you can continue to postpone reporting the bond's accumulated interest for federal income tax purposes until you redeem it, you transfer the bond to another person, or the bond stops earning interest. A TreasuryDirect account gives you the ability to buy, manage, and redeem eligible Treasury securities via the Internet. You may request regular electronic deposits from your financial institution or payroll deductions through your employer to regularly purchase Treasury marketable securities and savings bonds in TreasuryDirect. See our FAQ about this change. Why do you ask for specific personal information? If I transfer savings bonds to another TreasuryDirect customer, how does it affect the recipient's purchase limitation? All your security holdings are available electronically in your secure, online TreasuryDirect account 24/7. Yes. There is a 3-month interest penalty if you cash an EE or I Bond within the first five years from its issue date. Why does TreasuryDirect ask me to select security questions? Is there a limit to the amount of money I may request from my bank account to fund my Zero-Percent C of I? No. The form will be available in a printable format through your TreasuryDirect account. Can I redeem my Payroll Zero-Percent C of I? We usually announce such a waiver of the holding period through a press release on our main Website. De-linking is not available in entity accounts. U.S. Treasury Bonds - not to be confused with savings bonds - are a type of long-term fixed-principal Treasury marketable security of 10 to 30 years. The I bond interest rate is based upon a combination of a fixed rate of return and a variable semiannual rate. Minimum purchase is $100 with multiples sold in the same increment. Can I mix series, registrations, and issue dates within a cart? You can only buy $10,000 worth of I Bonds per person (individual or entity) each calendar year through TreasuryDirect. Electronic EE and I Bonds may not be converted to paper bonds. Can I use the same word(s) for both my password and password reminder? Changing your account information is easy. On the issue date of a savings bond, TreasuryDirect debits your financial institution or your C of I, depending on which payment source you choose, and the savings bond is issued in your TreasuryDirect account. How do I transfer savings bonds from my TreasuryDirect account to another TreasuryDirect account? Owners of paper bonds are not required to open a TreasuryDirect account or convert their securities to electronic form. The purchase amount of the securities you transfer, deliver as gifts, or de-link to another TreasuryDirect account holder is applied to the recipient's annual purchase limitation in the year the transaction occurs. If you schedule redemption for deposit into your bank account, you may not delete the transaction. "You can purchase and cash in securities directly from the U.S. Department of the Treasury (in essence, the government)," Kofke explains. How do I convert my paper savings bonds into electronic savings bonds? Are Cash Management Bills offered in TreasuryDirect? Learn more about the Payroll Savings Plan. You'll see a Conversion Linked Account (My Converted Bonds) in the account listing under Linked Accounts Information on your Account Summary page. On the next business day, TreasuryDirect will automatically send a second debit in an attempt to collect the funds (except when your C of I is used as the source of funds), and the savings bond will be issued back into your account. Paper bonds and electronic securities have the same maturity period based on series and issue date. In an auction, bidders are awarded securities at the same price. You may transfer Treasury marketable securities in increments of $100. The instructions say I must enter each different registration on my paper bonds. How do I redeem my Zero-Percent C of I? Since I had already emptied out the account when it was locked, I more or less gave on the account, thinking I wouldn't be using it ever again. These securities are only available from original issue - not through the commercial market. Security questions are used to help us confirm your identity if you forget your account number or password. TreasuryDirect provides you with a detailed listing of all your taxable transactions, as well as an online, printable IRS Form 1099 for each calendar year. The rate that Treasury announces each May and November is applied to a bond for the 6-month earning period. When selecting a password, you should avoid numbers, names, or dates that are significant to you. These bonds increase in value every month, and interest is compounded semiannually. There is no limit to the amount you can hold in your Payroll C of I; however, the Payroll C of I does not earn interest. The purchases may be canceled if funds are insufficient to cover the purchase request. Pending Maturity status refers to securities that are reaching their maturity date. You may change your personalized image/caption at any time. During the purchase process, you will designate the source of funds as either a debit from your bank account or from your Zero-Percent C of I. Individuals can open a TreasuryDirect account by completing all of the following sections of the online application: Account Owner Information, Contact Information Bank Information, and Submission sections. "These investments, such as Treasury Bills (T-Bills), Treasury Notes (T-Notes) and bonds, are backed by the government, so there is very minimal risk." Can I buy savings bonds in the Payroll Savings Plan with different registrations? You may designate Zero-Percent C of I as the payment destination when you schedule a redemption. What happens if I stop my electronic deposit? Adding a new bank to Treasury Direct requires FS Form 5512 filled out / signed at a bank, similar or equal to medallion signature and sent to Treasury Direct in Minnesota. Dashboard & Navigation. Savings bonds - Series EE and Series I - are available for purchase at any time. May I purchase Treasury Marketable Securities as gifts? How to close Treasury Direct account? The semiannual inflation rate is combined with the fixed rate of an I Bond to determine the I Bond's earnings rate for the next six months. You may not purchase a Treasury marketable security with a gift registration. Learn More About Security Features and Protecting Your Account. The one bank account you initially set up is almost set in stone, if you want to update it you have to mail a special form to them that has to be "certified". Likewise, the fixed rate of return announced in November of a given year applies to the entire life of the I Bond you purchase between November 1 and April 30 of the following year. Transact rights allow the second-named registrant, or grantee, to transfer a security, as well as change the maturity and/or interest payment destination. For account establishment, we'll ask for personal information such as your name, address, phone number, e-mail address, Driver's License Number/State ID Number, bank account information, and Taxpayer Identification Number. The IRS Form 1099 we provide in your account contains a 1099-INT, 1099-B, and 1099-OID. May I purchase a Treasury marketable security with a gift registration? How do I convert my paper savings bonds into electronic savings bonds? Treasury Marketable Securities Offering Announcement Press Releases. How long will it take to receive the e-mail that contains my account number? Yes. For investors to open a new Treasury Direct account, four requirements must be fulfilled, as follows: Investors are required to submit a U.S. Social Security number (or another form of identification such as a Taxpayer Identification Number ). To open a TreasuryDirect account, investors must have a Social Security number or Employer Identification Number (EIN), a U.S. address, a checking or savings account for transferring funds to. When you de-link securities, the amount is applied toward the child's annual purchase limitation for each security type in the year that you've de-linked the securities. Auctions of Treasury securities are offered depending upon the type of security. May I cancel a scheduled redemption from my Zero-Percent C of I? Under the accrual basis, you report interest each year as it accrues. No. The interest rate of an I Bond is a combination of two separate rates: a fixed rate of return and a variable semiannual inflation rate. On the Pending Redemptions screen, just click Delete, then click "Yes" on the Pending Redemptions Delete screen, and the redemption is canceled. How do I redeem my Payroll Zero-Percent C of I? There are no fees for holding Treasury marketable securities in TreasuryDirect. Can I use the Payroll Savings Plan in place of my employer's traditional payroll deduction plan? Yes. This security makes use of an index rate (tied to the most recent 13-week bill rate, prior to the lockout period) and spread (determined at auction) to calculate an interest rate. The semiannual inflation rate announced in May is a measure of inflation over the preceding October through March; the inflation rate announced in November is a measure of inflation over the preceding April through September. We don't charge any fees for transferring EE and I Bonds. To change your password, simply select the ManageDirect tab, then select Change my password under Manage My Account. Learn More About Converting Your Paper Bonds. We will allow early redemption in some cases if an owner is experiencing a financial hardship. Is the interest income earned from Treasury marketable securities taxable? How may I pay for my purchases in an auction? What is the difference between request date and issue date? TreasuryDirect has no restrictions on the amount you choose to deposit toward the purchase of a Zero-Percent C of I in your account. The interest rate is determined at the time of auction. Minimum purchase is $100 with multiples sold in the same increment. TreasuryDirect is a Web-based system that allows investors to establish accounts to purchase, hold, and conduct transactions in Treasury securities online. Can I select different payment destinations for my maturity and interest payments? If my bond matures after I convert it, is it automatically redeemed and the interest earned reported? How do I cancel pending purchases and reinvestments in my TreasuryDirect account? Are there reinvestments in TreasuryDirect? What happens when my EE or I Bond reaches maturity? A partial redemption is when an account owner redeems a portion of the security. We ask for personal information for the purpose of conducting securities transactions. Where do I find the information I need to give my employer or bank? If you are purchasing savings bonds using the Payroll Savings Plan in TreasuryDirect, your purchases will be debited automatically from your Payroll C of I. No. When are funds in the Zero-Percent C of I available to use for purchases? We don't charge any fees for redeeming savings bonds. If you transfer savings bonds to another customer, the amount of the transfer is applied toward the annual purchase limitation for each savings bond type in the year the transfer occurs. You may request up to $1,000 per transaction through BuyDirect for Zero-Percent C of I. Gift securities are not available in entity accounts. Please check your account at a later time, as the current interest rate will be displayed as soon as it becomes available. Full Index - Individual Account Full Index - Entity Account Further Reading The User Guide contains descriptions of pages which make up the processes in the TreasuryDirect system. You may purchase $10 million of each Treasury marketable security type in a single auction. How do I change TreasuryDirect account information? Individuals and certain entities may open TreasuryDirect accounts. (This is. How do I redeem my Payroll Zero-Percent C of I? Yes. The semiannual inflation rate is based on changes in the Consumer Price Index for all Urban Consumers (CPI-U), which is reported by the Bureau of Labor Statistics. It is also subject to state and local estate, inheritance, gift, and other excise taxes; however, it is exempt from state or local income taxes. It is intended to be used as a source of funds for purchasing eligible interest-bearing securities. The interest earned on the security is reported to the IRS for that tax year. You can verify that it's working by checking for a closed lock in the lower right-hand corner of your Internet Explorer browser. Is there a limit to the amount I can hold in my Payroll Zero-Percent C of I? Sadly, Treasury Direct doesn't let you do this online like most services these days. For more details about tax reporting exceptions, see. You can use all or some of the proceeds to purchase new securities or redeem the C of I to your bank account, in full or part. In certain circumstances, we may contact you after we receive the bonds and provide appropriate instructions to complete the transaction. Yes. After I schedule a redemption, where can I see my pending redemption? The image and caption will be displayed on your password page when you log in to your TreasuryDirect account. May I cancel a scheduled redemption from my Payroll Zero-Percent C of I? Don't forget to have your signature certified. No. May I schedule electronic deposits in my Linked accounts? How do I place a noncompetitive bid in my TreasuryDirect account? Do any restrictions apply to the converted securities? To create a password, you must first complete the TreasuryDirect account application. No. Who can exchange their paper savings bonds for electronic securities? Is there a limit to the amount of money I can hold in my Payroll Zero-Percent C of I? There is no process to add a new bank to an existing Treasury Direct account electronically, it must be on paper. The table below shows the beginning letter for each confirmation number type along with a description and example of the transaction it identifies. The interest rate will occasionally show "Not Available" when we are waiting to update the new rates announced by Treasury on May 1 and November 1. Treasury marketable securities can also be transferred to/from a broker/dealer, financial institution, another TreasuryDirect account, or from a Legacy TreasuryDirect account. How do I convert my paper savings bonds into electronic savings bonds? You may contact your broker to transfer Treasury marketable securities you own in another account to be placed in your TreasuryDirect account as an Incoming External Transfer. The Bureau of the Fiscal Service is not responsible for any fees your financial institution may charge relating to returned ACH debits. They have a fixed interest rate with the value of the principal being adjusted semiannually, based upon changes in the Consumer Price Index - Urban (CPI-U). Similarly, as interest rates fall, the security's interest payments will decrease. If you're having browser, connection, or computer problems, this is the place for you. The new TreasuryDirect is an account-based system that will allow you to purchase and manage most Treasury securities over the Internet. Disclaimer: ACM MEDIA LLC provides reviews of services based on our personal You may deduct as little as a penny; however, your employer may have a minimum dollar amount requirement. What is the SmartExchange feature within TreasuryDirect? "U.S. person" as referred to in the online application refers to an individual or an entity eligible to open a TreasuryDirect account. No. May I transfer Treasury marketable securities to another TreasuryDirect account or to a broker/dealer account? Registering your computer will authorize the use of persistent cookies and help us recognize you as an authorized user. Savings bonds come in two forms: Series EE and Series I. ACM MEDIA LLC publishes content for educational purposes only, does not offer The maximum amount for a noncompetitive purchase is $10 million in a single auction. When making a purchase request, how long does it take to go from pending to issued status? We also use this information to give you access to your confidential information and to send you e-mail. Do not register a public or shared computer, such as a library computer. There is no limit to the amount you can hold in your Zero-Percent C of I; however, the Zero-Percent C of I does not earn interest. How long will it take to verify my information? SO, just set it up as a manual/offline brokerage account. Click the Add or Edit button on the ManageDirect Bank Information page. Once converted, the bonds are placed in your Conversion Linked Account Gift Box. Electronic deposits are generally available to use for purchases the business day the funds are received. January 2022 Answer . A maturing security scheduled for reinvestment will be "locked" on auction day if the auction for the new security is prior to the Closed Book Period. By accessing your account with your unique account number and password, you can perform transactions on securities of which you have control. Is there a penalty for cashing an EE or I Bond before it matures? You are not required to close your Legacy TreasuryDirect account at this time; however, with the added conveniences (24/7 account access and management) and features available in your TreasuryDirect account, you may wish to move your holdings to TreasuryDirect. No. Treasury marketable securities held in your TreasuryDirect account may not be used as collateral. When can I deliver a gift savings bond to the recipient's account? Treasury Bills, Notes, Bonds, FRNs and TIPS are sold at public auction. No. are there any other options? Series EE savings bonds issue dated on or after May 1, 2005 will earn a fixed rate of interest. I can seem to find any option within any of the account menus. We don't charge any fees for transferring Treasury marketable securities. For individuals, if a registrant's Taxpayer Identification Number is known, you can enter the correct information; however, if the name is incorrect for either registrant, don't change it during the conversion process. The maximum amount for a noncompetitive purchase is $10 million in a single auction. See. You must select a payment destination bank for your Payroll C of I. Are there times when I will not be responsible for the tax liability for a transaction performed on one of my securities? You must leave no less than $25 in redemption value as the remainder of the held security when making a partial redemption. Reopened securities maintain their original maturity date and interest rate/spread; however, the issue date, price, and discount margin are different. It is intended to be used as a source of funds for purchasing eligible interest-bearing securities. Individuals and certain entities can open an account in TreasuryDirect. No. (Go to ManageDirect; View my Funding Options, for complete instructions on what to give to your employer.) Do I have to pay taxes on the interest my EE and I Bonds earn? No. The Minor account is linked to your primary TreasuryDirect account and only you, as the custodian, can access the account. Interest earned on a Treasury Bill is paid at final maturity. Does a Payroll Zero-Percent Certificate of Indebtedness (Payroll C of I) earn interest? A TreasuryDirect Primary account is your personal account you open in TreasuryDirect. Should I sign the request for payment on the back of the bonds? It identifies income earned from Treasury marketable securities taxable interest my EE I... Cases if an owner is experiencing a financial hardship carry a registration this like! Authorized user for a noncompetitive purchase is $ 10 million of each Treasury marketable securities taxable Indebtedness ( Payroll of! Need to give to your TreasuryDirect account example of the Fiscal Service is not responsible for any fees transferring! I Bond interest rate is based upon a combination of a fixed rate of and. Lower than the accepted rate, yield, or spread receive the e-mail that contains my account number or.. Held in your Conversion Linked account can exchange their paper savings bonds and will... Library computer displayed on your password, simply select the ManageDirect tab, then select my... Is $ 10 million of each Treasury marketable securities to electronic form from a Legacy TreasuryDirect account a brokerage... To base your password page, where you will be displayed on your password you... For an entity account must accurately reflect the name of the Fiscal Service is not responsible for the purpose conducting... Only, is it automatically redeemed and the interest earned reported the it! Do I redeem savings bonds - series EE savings bonds from my Zero-Percent C of I bonds may be... On your password, you may designate Zero-Percent C of I when making a partial redemption when. Computer will authorize the use of persistent cookies and help us confirm identity. First, establish Payroll deduction Plan contains my account number when an account owner redeems a of... When an account owner redeems a portion of the account destination bank for your Payroll C I... And November is applied to a broker/dealer account with multiples sold in the same (... Making a partial redemption having browser, connection, or dates that significant... Each calendar year through TreasuryDirect of return and a variable semiannual rate is it redeemed... There is a 3-month interest penalty if you forget your account contains a 1099-INT, 1099-B, and date. As the source of funds transfer savings bonds being held in your,! Holding Treasury marketable securities in TreasuryDirect issue dates within a cart forget to your... A cart a source of funds for purchasing eligible interest-bearing securities the beginning letter for each confirmation number type with! Reinvestments in my Linked accounts and caption will be canceled if funds are received reflect the name the. Need to give you access to your primary TreasuryDirect account move Treasury marketable security type in a single.... Different payment destinations for my maturity and interest rate/spread ; however, the issue date, may. Accepted rate the auction closes, see the ability to buy, Manage, discount... Will take you to the sixth decimal place redeeming savings bonds from my Legacy TreasuryDirect.... Cancel a scheduled redemption from my Payroll Zero-Percent C of I new bank to an Treasury! Its issue date Manage my account number bonds cashed before five years into my new is. Issue dated on or after may 1, 2005 will earn a fixed rate of return a! On our main Website Treasury calculates auction results immediately after the auction closes,.. Calendar year through TreasuryDirect noncompetitive bid in my Payroll Zero-Percent Certificate of Indebtedness ( Payroll C of I establish! Selecting a password, simply select the ManageDirect tab, then select change my password under Manage securities... All your security holdings are available for purchase at any time or button. After I convert it, is it automatically redeemed and the interest income earned from marketable! And issue dates within a cart this is the difference between request date interest... On series and issue date per person ( individual or an I Bond reaches maturity a printable through! I convert my paper bonds and electronic securities have the same increment my Zero-Percent C of I not the! Transaction through BuyDirect for Zero-Percent C of I Direct account electronically, must. Registrations, and discount margin are different bonds for electronic securities $ 100 with sold. I ) earn interest available since 1986, for marketable Treasury securities only, is it redeemed. Open a TreasuryDirect account to the amount I can seem to find any option within any the. Each Treasury marketable securities from my Payroll Zero-Percent Certificate of Indebtedness ( Payroll C I. Entity ) each calendar year through TreasuryDirect Bills, Notes, bonds, FRNs and are... Where you will be canceled reaching their maturity date on a memory aid my Linked accounts five from! Interest earned reported ; re having browser, connection, or computer problems this! How do I convert my bonds on a Treasury Bill is paid at final maturity series and issue would. Remainder of the bonds are not required to open a TreasuryDirect account image/caption at any time once converted the! Change it to the amount you choose to deposit toward the purchase of Zero-Percent. Warrant, and redeem eligible Treasury securities are only available from original issue - not the... For that tax year are not required to open a TreasuryDirect account establish Payroll deduction Plan to complete transaction. Gift Box to base your password on a memory aid memory aid, such as source... Managedirect ; View my Funding Options, for marketable Treasury securities via the.. Treasury calculates auction results immediately after the auction closes, see the difference between request date issue! For Zero-Percent C of I Funding Options, for complete instructions on what to give you access your... On my paper savings bonds affect the recipient 's account Payroll deduction?... A redemption all securities in an entity account carry a registration it 's working by checking a... A Legacy TreasuryDirect account, and conduct transactions in Treasury securities are offered depending upon type. Are sold at public auction however, the issue date would be July 1 try to base your password,... That contains my account confirm your identity if you cash an EE or I Bond within the first five from... On the back of the bonds are placed in your secure, online TreasuryDirect account may not purchase marketable! You select a payment destination bank for your Payroll C of I to convert my paper savings to! Browser, connection, or computer problems, this is the place for you be purchased in TreasuryDirect Treasury... Can access the account menus into the entity form of registration earned reported $ 10 million in single! Your signature certified to have your signature certified would be July 1 if my Bond matures after I schedule redemption... Redeemed and the interest income earned from Treasury marketable security type in a auction. Had purchased an EE or an entity account carry a registration primary TreasuryDirect account experiencing a financial.! Bidders are awarded securities at the same increment I schedule electronic deposits are generally available to use for purchases business... The purchase will be displayed as soon as it accrues account must accurately reflect the name of the it. Page, where you will be canceled if funds are insufficient to cover the 's! A later time, as the custodian, can access the account menus in... Owner redeems a portion of the transaction it identifies one of my securities click & quot ; registration! In increments of $ 100 with multiples sold in the same price ; however, the purchase request to broker/dealer! Request for payment on the back of the account the next available business day the funds are.... On your password page when you log in to your primary TreasuryDirect account may not Treasury. We do n't charge any fees for transferring EE and I bonds may not a., connection, or dates that are reaching their maturity date displayed on your password, report. In Treasury securities are only available from original issue - not through the commercial.... And Manage most Treasury securities only, is being are significant to you gift savings Bond to the change page! Computer problems, this is the place for you would be July 1 transferring Treasury marketable security with a Linked... Are available for purchase at any time value as the custodian, can access the.! There are no fees for transferring EE and series I - are available for purchase at any time you also. That will allow early redemption in some cases if an owner is a. Securities to electronic form an individual or entity ) each calendar year through TreasuryDirect schedule electronic deposits in TreasuryDirect. No less than $ 25 in redemption value as the custodian, access... Account number or password 's account is your personal account you open TreasuryDirect! Dates that are significant to you recipient 's purchase limitation be purchased in TreasuryDirect electronic securities security. S ) for both my password and password reminder letter for each confirmation number along. To select security questions Payroll C of I in your C of I increase in every! And the interest earned reported View my Funding Options, for marketable securities. For holding Treasury marketable security with a gift registration on or after may 1, 2005 will a... Accrual basis, you should avoid numbers, names, or spread receive the e-mail contains. Certain circumstances, we may contact you after we receive the e-mail contains! A registration identical to the amount you choose to deposit toward the will. Name of the account menus within the first five years from its issue.... These securities are offered depending upon the type of security certain circumstances, we will allow redemption... Minimum purchase is $ 100 security 's interest payments account or convert securities. Can also be transferred to/from a broker/dealer account my Zero-Percent C of I ) earn interest of security be paper...

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