What is unclaimed property?

Ask Treasurer Michael Fitzgerald!

State Treasurer Michael Fitzgerald is reminding Iowans they may have cash to claim in the Great Iowa Treasure Hunt. “I know it can sound too good to be true,” said Fitzgerald. “But we are holding $454 million right now and there are thousands of individuals who are rightfully owed this money. As state treasurer, it is my responsibility to protect these financial assets and I work hard to return the property.” To inform Iowans about unclaimed property, Fitzgerald answered some common questions.

What is unclaimed property?

Unclaimed property is any financial asset that has been inactive for a set period of time. Common examples include forgotten checking and savings accounts, lost stocks and bonds, uncashed checks, life insurance premiums, security deposit refunds and the contents of abandoned safe deposit boxes.

What does the State Treasurer’s Office do with unclaimed property?

The State Treasurer’s Office is the administrator of unclaimed property in Iowa. Businesses and financial institutions are required by law to send the property to the State for safekeeping after it has reached the abandonment period. The State Treasurer’s Office then works to reunite owners with their funds through the Great Iowa Treasure Hunt.

How do people lose track of their financial assets?

It’s more common than one may think! Individuals may move and forget to update their contact information at their financial institution, or a family member may leave behind assets unbeknownst to the beneficiary. There are many reasons someone can have unclaimed property.

How do I claim my funds?

It’s free and easy to claim. Visit GreatIowaTreasureHunt.gov, search your name and follow the screen prompts. The site is secure and all information is kept confidential.

For more information on the Treasurer and unclaimed property, visit IowaTreasurer.gov/For-Citizens/Great-Iowa-Treasure-Hunt. Follow the Treasurer on Twitter, Instagram and Facebook for reminders to search and weekly lists of businesses with unclaimed funds.

Michael Fitzgerald is the state treasurer of Iowa.


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