PRESS RELEASE: State Treasurer Clint Zweifel returns more than half of all Unclaimed Property ever returned in Missouri

  

For immediate release:

January 26, 2015

 

Contact:

Meghan Lewis

(573) 526-6024                            

meghan.lewis@treasurer.mo.gov

facebook.com/MOTreasurer

@MOTreasurer       

 

A media kit with a head shot and biography is available at: www.treasurer.mo.gov/MediaToolKit.aspx

 

State Treasurer Clint Zweifel returns more than half of all Unclaimed Property ever returned in Missouri

Treasurer Zweifel has returned more Unclaimed Property than any state treasurer since the program’s inception

 

JEFFERSON CITY – State Treasurer Clint Zweifel (ZWY-ful) today announced since taking office, he has returned a total of just over $221 million in Unclaimed Property to more than 772,000 account owners, more than half of all Unclaimed Property ever returned in Missouri. The Division of Unclaimed Property was created in 1985 and became part of the State Treasurer’s Office in 1993.

 

“My team works hard to return millions of dollars to Missouri families and businesses, and because of that we have set records every year since I’ve been in office,” Treasurer Zweifel said. “I have implemented technological innovations that have streamlined the process and allowed many account owners to complete the process entirely online, making it easier than ever for Missourians to search for and claim their Unclaimed Property.”

 

The treasurer currently holds $822 million in unclaimed assets for 4.8 million account owners, and of the $442,483,044 ever returned in Missouri, Treasurer Zweifel has returned $221,361,962.

 

Treasurer Zweifel has made claiming Unclaimed Property easier for Missourians by maximizing efficiency through the entire process. More than 50 percent of claims can be processed entirely online without a single piece of paper, significantly cutting wait times. Missourians can access his Unclaimed Property search database using search kiosks that rotate through license offices around the state. Treasurer Zweifel also allows individuals to sign up for email alerts when property matching their information is added to his database. Missourians can search for, claim or sign up for email alerts 24 hours a day at www.ShowMeMoney.com.

 

In 2013, Treasurer Zweifel announced that Unclaimed Property could be donated to any one of 20 eligible charities and non-profit organizations operating in Missouri, including the American Red Cross, the American Cancer Association and the Muscular Dystrophy Association.

 

Unclaimed Property can belong to individuals, businesses, nonprofits or any entity that conducts financial transactions. It can come from abandoned bank accounts, uncollected insurance policies, uncashed checks and more. State law requires those entities to turn over assets to Treasurer Zweifel’s office after a statutorily defined period of time, generally five years. The assets are held by the office in perpetuity until the original owners or a proper heir is located. All Unclaimed Property is returned free of charge. One in 10 Missourians has Unclaimed Property, and the average return is $300.

 

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About Treasurer Zweifel’s Unclaimed Property

State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer 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. Treasurer Zweifel does not handle real property such as land and houses or certain types of personal property such as cars and boats. There is more than $822 million in Unclaimed Property maintained by Treasurer Zweifel.  Treasurer Zweifel never charges for the return of Unclaimed Property.

 

 

Meghan Lewis

Office of State Treasurer Clint Zweifel

Director of Communications

Missouri State Capitol, Room 229

P.O. Box 210

Jefferson City, Missouri 65102

 

(573) 289-3673 (cell)

(573) 526-6024 (office)

(573) 751-9443 (fax)

twitter.com/megmlewis