Jefferson City, MO –Missouri State Treasurer Scott Fitzpatrick today announced that his administration has returned its first $1 million in Unclaimed Property to Missouri residents since taking office nine days ago. This is the fastest any Missouri State Treasurer has returned their first $1 million. The previous record was 11 days, set in 2017.
The two biggest claims were for accounts in St. Louis County. One St. Louis County resident received a payment of $225,000 while another account received a payment of $130,765 as a result of unclaimed property.
“Returning Unclaimed Property to Missouri residents is a priority of this Office and I encourage all Missourians to visit our website and check to see if they are entitled to Unclaimed Property,” Treasurer Fitzpatrick said. “I am proud of the hard work of the Unclaimed Property Division. This record-breaking million dollars is a reflection of their dedication—especially given that the time period included a State holiday!”
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets, including cash and the contents of safe deposit boxes, to the Treasurer’s Office. This is required after there has been no documented transaction 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 can also include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs.
Treasurer Fitzpatrick currently manages over $1 billion in unclaimed assets in more than 5 million owner accounts. One in ten Missourians have Unclaimed Property, and the average return is nearly $300. Unclaimed Property can be searched for and claimed on ShowMeMoney.com.