Home / Missouri State News / State Treasurer Says Unclaimed Property Returns Are Up Through First Six Months of Fiscal Year

State Treasurer Says Unclaimed Property Returns Are Up Through First Six Months of Fiscal Year

JEFFERSON CITY – State Treasurer Clint Zweifel (ZWY-ful) announced today $23.5 million in Unclaimed Property has already been returned in the first six months of fiscal year 2012. The amount is a 31 percent increase over the same record setting period the previous year. Contributing to the pace is what is thought to be the largest single Unclaimed Property return in the country’s history – $6.1 million to a Kansas City area woman in December.

The total number of accounts returned in the first six months is also on record pace with 64,000 returned. That is a 7 percent increase over the same time the previous year.

“It is one of my top priorities to let Missourians know they may have Unclaimed Property, and to return as much of it as fast as possible,” Treasurer Zweifel said. “The pace at which we are returning money is a testament to innovation and hard work. Paperless claims, email notifications and enhanced marketing efforts get money out the door and into the economy where it is needed. We have six months to go to break our previous records, and I am positive we will do it.”

Since January 2009, Treasurer Zweifel has returned $106 million to more than 310,000 account holders and cut wait times for Unclaimed Property in half. More than 51,000 paperless claims have been paid, and more than 42,000 people have signed up for email notifications.

The current 12-month Unclaimed Property records were set by Treasurer Zweifel in fiscal year 2011 when he returned $36 million to 120,000 account holders, breaking his previous record of $35 million to 92,000 account holders set in fiscal year 2010.

Following is an overview of the total dollar amounts and total accounts in Unclaimed Property remaining in each region of Missouri:

Kansas City Region (Bates, Carroll, Cass, Clay, Henry, Jackson, Johnson, Lafayette, Platte, Ray): $91 million in more than 717,000 accounts.

Mid-Missouri Region (Audrain, Benton, Boone, Callaway, Camden, Cole, Cooper, Dent, Gasconade, Howard, Maries, Miller, Moniteau, Montgomery, Morgan, Osage, Pettis, Phelps, Pulaski, Saline): $22.4 million in more than 250,000 accounts.

Northeast Missouri Region (Adair, Chariton, Clark, Knox, Lewis, Linn, Macon, Marion, Monroe, Pike, Putnam, Ralls, Randolph, Schuyler, Scotland, Shelby, Sullivan): $6.8 million in more than 68,000 accounts.

Northwest Missouri Region (Andrew, Atchison, Buchanan, Caldwell, Clinton, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Livingston, Mercer, Nodaway, Worth): $8.5 million in more than 84,000 accounts.

Southeast Missouri Region (Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison, Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francois, Ste. Genevieve, Stoddard, Wayne): $13.5 million in more than 161,000 accounts.

Southwest Missouri Region (Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Hickory, Howell, Jasper, Laclede, Lawrence, McDonald, Newton, Oregon, Ozark, Polk, Shannon, St. Clair, Stone, Taney, Texas, Vernon, Webster, Wright): $32 million in more than 361,000 accounts.

St. Louis Region (Crawford, Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, Warren, Washington): $187.9 million in nearly 1.2 million accounts.

For more information about Unclaimed Property, go to www.ShowMeMoney.com.

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, houses, cars and boats. There is $600 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.

Comments

comments

About News Server 2