Unclaimed Property comes from financial institutions, insurance companies, public agencies and other business entities after there has been no documented transaction or contact with the owner for a statutorily-defined period of time, generally five years.
The Treasurer currently holds more than $822 million in unclaimed assets in more than 4.8 million owner accounts. One in 10 Missourians has Unclaimed Property, and the average return is $300.
The Treasurer has returned more than $200 million to more than 700,000 accounts since he took office in January 2009, record-setting numbers and nearly 50 percent of all property returned in state history.
Each year financial institutions, businesses, government agencies and other organizations turn over millions of dollars in cash and the contents of nearly 1,000 safe deposit boxes to the Missouri Treasurers office. The contents of those safe deposit boxes contain family heirlooms, jewelry and other keepsakes. Some of the most precious items recovered from safe deposit boxes are military medals and insignia, which the Treasurers and his team work to return to the heroes who earned them or their families.
State law requires financial institutions, insurance companies, public agencies and businesses to turn over Unclaimed Property to the Treasurers’ office if they have had no contact with the owners for some statutorily defined period of time, generally five years.
Unclaimed Property holds cash property in trust forever. Occasionally, the Treasurers’ office is required by law to auction abandoned non-monetary assets of value (jewelry, coins, etc.) from safe deposit boxes, and records the proceeds from their sale in the owner’s names so they or their heirs can claim the proceeds. Proceeds, as well as any other Unclaimed Property, are held forever until claimed by the original owner or heir.
The fastest and most efficient way to check to see if you have Unclaimed Property is to search the Treasurers’ database at ShowMeMoney.com.
Or you can write to:
Missouri State Treasurer Clint Zweifel
PO Box 1004
Jefferson City, MO 65102
When writing, include a list of owner names, addresses and previous addresses, if known. The Treaurers’ office will let you know if the names are associated with any Unclaimed Property in the custody of their office. To recover Unclaimed Property, claimants must be either the original owner of the property or a legal heir if the original owner is deceased.
There is no time limit for filing claims. The Treaurers’ office maintains Unclaimed Property in trust for the rightful owners forever. If the property was reported to The Treaurers’ office as an interest-bearing account, The Treaurers’ office will pay the owner up to seven years interest on the cash property.
There is a little known business that lets you do that. Unclaimed money finders locate people that don’t know they money being held for them and help them to recover it.
In return, they charge a commission after the money is recovered.
Please click here if you would like to learn more about becoming a Missouri unclaimed money finder.