State Treasurer Clint Zweifel’s office will be on hand for the duration of the Missouri State Fair attempting to reunite citizens with millions of dollars in unclaimed property.
“Treasuer Zweifel is committed to reuniting Missourians with their unclaimed property,” said Communications Director Meghan Lewis. “The State Fair is an excellent opportunity for him to do so.”
During the last State Fair, more than 650 attendees found a total of $58,000 in unclaimed property. In fiscal year 2014, more than $58 million was returned to Missourians, according to Lewis. The treasurer’s staff will be available in the agriculture building during the fair, Aug. 7-17.
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Zweifel that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner after a statutorily-defined period of time, generally five years.
Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs.
“Unclaimed property can consist of cash from bank accounts, stocks, bonds, even the contents of safe deposit boxes,” Lewis said.
The treasurer currently has more than $822 million in unclaimed property belonging to 4.8 million owners. It is believed 1 in 10 Missourians have unclaimed property and the average return in $300. Zweifel receives new Unclaimed Property every week, and since taking office in 2009, he has returned more than $204 million to more than 700,000 accounts, nearly half of all Unclaimed Property returned in state history.
“This is a good opportunity as $300 can go a long way this time of year,” Lewis said. “That’s school supplies, back to school clothes or a summer cooling bill. This is a great opportunity not only for Missourians to ask questions about unclaimed property, but also to search that list.”
The list is available on the web at ShowMeMoney.com. If an individual sees their name on the website, they can begin the claims process.
Zweifel also protects more than 100 military medals and insignia. In the last five years, the treasurer has returned more than 60 medals to veterans and their families. Thanks to a recently-passed law, the treasurer’s office is able to share the last known owner of the safe deposit box in which military medals and insignia are found. To look at the complete list, visit treasurer.mo.gov/military.