Claiming Unclaimed Property
For years, the Missouri state treasurer’s office has been the home of countless treasures some people do not know exists. Simply called Unclaimed Property, this division of the treasurer’s office houses thousands of different items that come from abandoned safe deposit boxes throughout our state.
Here is how Unclaimed Property works: The state treasurer has approximately $1 billion in various items, including cash, from more than 5 million owner accounts. Each year, banks and other financial institutions, businesses, government agencies and other organizations turn over the contents of safe deposit boxes to the treasurer’s office. Law requires these entities to turn over the contents of safe deposit boxes if there has been no documented transaction or contact with the owner for a minimum of five years. According to the Unclaimed Property webpage, one in 10 Missourians has Unclaimed Property, and the average return is $300.
These safe deposit boxes usually contain jewelry, family heirlooms and other keepsakes. Military medals and insignia have also been found. To learn more about this, the treasurer has a special site: treasurer.mo.gov/military.
You can also learn more about what charities are involved with Unclaimed Property: https://treasurer.mo.gov/UnclaimedProperty/Donate.aspx.
I would invite you to take the time to explore the Unclaimed Property page on the state treasurer’s website. You never know what you may find there.
As always, please feel free to call, email or write with your ideas or concerns. My Capitol office number is 573-751-1415, my email is email@example.com and my mailing address is Room 332, State Capitol Building, Jefferson City, MO 65101.