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Unclaimed property - KOAM TV 7

Unclaimed property

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News release from the Missouri State Treasurer

JEFFERSON CITY - As part of his continued effort to reunite Unclaimed Property with its owners, State Treasurer Clint Zweifel (ZWY-ful) announced today he has returned more than $1 million to three account owners. In fiscal year 2013, Treasurer Zweifel has returned more than $3.5 million to individuals with accounts over $100,000.

"Unclaimed Property is a promise to taxpayers, this is their money and I charge nothing to return it," Treasurer Zweifel said. "I hold nearly $700 million in Unclaimed Property for more than 4.3 million account owners. This is money that belongs to churches, small businesses, local governments and individuals. While not every account is worth more than $100,000, every dollar counts. I encourage you to go online to www.ShowMeMoney.com to see if you, family or friends have property."

Since January 2009, Treasurer Zweifel has returned more than $140 million in Unclaimed Property to more than 490,000 account owners.

Below is an overview of the three accounts returned:

 

  • The first account was returned to a business in Columbia, Mo. It totaled $163,000 and was made up of a checking account and a savings account. 
  • The second account was returned to a Fortune 500 Company doing business in Missouri. It totaled $761,000 and was made up of 33 separate claims, the majority of which were from a liquidated security and dividends. 
  • The third account was returned to a Springfield, Mo., business. It totaled $125,000 and was made up of a matured certificate of deposit.

 

The recipients' names are not being released for privacy reasons.

Treasurer Zweifel currently holds 63 accounts with $100,000 or more. The geographic breakdown is: 25 in St. Louis County; 20 in Jackson County; five in St. Louis City; three in Camden County; three in Cole County; two in Boone County; and one each in Butler, Clay, Franklin, Jasper and Johnson counties.

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 for five or more 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 $700 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.

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