State Treasurer Roby Smith is reminding Iowans of the importance of reviewing their finances to avoid their assets from becoming unclaimed property. “With Fall upon us, one thing we can count on is the changing of colors. Other changes in our lives, like a change in name or address, may happen more gradually,” said Smith. “Now is the perfect time to double-check your various financial accounts to make sure your information is up-to-date to help minimize the potential that you may have unclaimed property to claim in the future.”
Money and other assets, collectively called unclaimed property, are turned over to the State Treasurer’s Office when businesses and entities have lost contact with the owner after a specific period of time. The State Treasurer’s Office safekeeps the assets and works to reunite owners with their unclaimed property through Great Iowa Treasure Hunt. Currently, past and present Iowans have over $483 million waiting to be claimed.
“One way to help prevent assets from becoming unclaimed property is to contact your financial institutions to update your information whenever there’s change in your name, phone number, address or email. Also, be sure to follow-up with financial institutions or companies to confirm account ownership and contact information if you receive a letter from them. If you’re ever concerned about the legitimacy of a request you receive, call the number you have on file for them or that’s posted on their website,” concluded Smith.
To see if you have unclaimed property in Iowa, visit GreatIowaTreasureHunt.gov. Connect with the Treasurer on Facebook, Instagram and X, formerly known as Twitter, to stay up-to-date on all areas of the office.