Treasurer Zweifel has now returned more than $242 million of Unclaimed Property since 2009
JEFFERSON CITY – State Treasurer Clint Zweifel (ZWY-ful) announced today that his Unclaimed Property team has once again returned a record amount of Unclaimed Property, $41.7 million, to Missourians in Fiscal Year 2015, which runs from July 2014 – June 2015. Treasurer Zweifel protects more than $874 million of Unclaimed Property for nearly 5 million account owners.
“Each year my team strives to quickly and efficiently return as much Unclaimed Property as possible by utilizing technology, promotion and quality customer service,” Treasurer Zweifel said. “It is because of this hard work and innovation that I have been able to break records every year since I took office. One in 10 Missourians has Unclaimed Property; this is money that belongs to you and I will continue to do all I can to ensure it gets back to the rightful owner.”
Since taking office in 2009, Treasurer Zweifel has returned more than $242 million of Unclaimed Property to 820,000 account owners, more than half of all Unclaimed Property ever returned in state history. He has implemented technological changes that allow Missourians to search for their property at license offices, receive email alerts when new Unclaimed Property matching their information is added to the database and launched an updated, user-friendly website where more than 50 percent of claims can be filed without a single piece of paper, ShowMeMoney.com. These efforts, combined with regular outreach through advertising, telethons and mailings have resulted in shorter wait times and more money returned to account owners.
“Missourians want to know that government is listening to them and every day my team looks for new ways to make claiming Unclaimed Property easier,” Treasurer Zweifel said. “As I travel throughout the state, I am inspired by the many individuals who thank me for the good experience they have with my office. Transparency and flexibility are vital. It is an honor to ensure that Missourians not only continue to have a quality experience with my office, but also know that we are doing all we can every day to improve.”
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.