From the U.S. BEP's guidelines on Damaged Currency:
Under regulations issued by the Department of the Treasury, mutilated
United States currency may be exchanged at face value if:
- More than 50% of a note identifiable as United States currency is
- 50% or less of a note identifiable as United States
currency is present, and the method of mutilation and supporting
evidence demonstrates to the satisfaction of the Treasury that the
missing portions have been totally destroyed.
"50% or less" includes "0%".
However, it is probably going to be very difficult to prove that the currency existed, had a specific face value, and was completely destroyed (instead of being replaced with a decoy at the last minute.)