Banks, businesses and insurance companies are bound by Missouri law to turn over unclaimed property to the Missouri treasurer. If after a specified period of time, five years for most types of property, an account is inactive and the property owner cannot be reached, the treasurer’s Unclaimed Property division assumes control of the assets.
Currently, the division is holding more than $10.8 million of unclaimed property from 109,000 account holders in District 8. The goal of the treasurer’s office is to turn as much of this property over to the account owners or proper heirs of the accounts as possible.
There is no limit to the length of time the treasurer’s office will hold unclaimed property, meaning you or a family member could have property kept for years or even decades. It is not unusual for individuals to have hundreds of dollars in unclaimed property kept by the state. Property owners can also choose to donate their unclaimed property to one of the many eligible charitable organizations, which are listed on the Unclaimed Property website.
To check if you or a family member has unclaimed property being held by the state, visit ShowMeMoney.com, or send a letter to Treasurer Clint Zweifel at P.O. Box 1004, Jefferson City, MO 65102-1004.