Procedures for Year End (12/31) Filings of Bond Amortizations

All companies, which have bonds on deposit, must submit a schedule of bond amortization and/or accrual of discount for all bonds on deposit with this department, as of December 31.

  1. The schedule of bond amortization must be submitted to this office and received no later than February 15th, on the Form 22 Report of Securities.
  2. If the company requests confirmation to auditors and/or Certificates of Deposit for year-end, they cannot be prepared until the bond amortization has been received from the company and processed by this department.
  3. The companies are not allowed to combine any changes in the principal with the year-end bond amortization.  New deposits and withdrawals must be completed (the safekeeping receipts from the bank must also be received) prior to December 31, or they will be considered the next years' business and will be dated the date all necessary documents are received.
  4. The Form 22 must be submitted in duplicate with original signature.  Return if not properly signed.
  5. The Form 22 must be prepared per the Form-22 instructions.
  6. The adjusted amount of the amortization of premium must be shown in the “withdrawal” column or adjusted amount of the accrual of discount in “deposit” column beneath the section titled "Amortized Value".  Amortized balances of all bonds/notes, even those with no change, must be placed in the far right column titled “Amortized Balance".