Treasurer Zweifel Announces Record Pace for Unclaimed Property Accounts Returned
45,809 accounts receive $16.6 million in first six months of fiscal year
JEFFERSON CITY, MO – January 4, 2010 – (RealEstateRama) — State Treasurer Clint Zweifel announced that half way through the 2010 fiscal year his office was on pace to break the previous record for Unclaimed Property accounts returned by more than 15 percent. A total of 45,809 accounts had been returned since July 1. The previous record was set by Treasurer Zweifel’s office in fiscal year 2009.
Treasurer Zweifel credited a combination of customer service, efficiencies, a new Web site and marketing efforts for the record-setting pace. The total amount of Unclaimed Property returned since July 1 was $16,602,498, a 16 percent increase over the first six months of fiscal year 2009.
“Returning more money to more Missourians in these tough economic times is essential,” Treasurer Zweifel said. “We are returning an average of $360 per account owner and one in 10 Missourians has Unclaimed Property. This money comes in handy any time, but especially now. These assets belong in the hands of their owners.”
While setting the record pace, Treasurer Zweifel said wait times for a return had decreased to 28 days, which is a 15 day reduction versus Dec. 31, 2008.
“There were 14 staff members handling Unclaimed Property when I took the oath of office and there are 14 members now,” Treasurer Zweifel said. “We continue to work hard each day for taxpayers to return their property to them.”
Missourians may search for Unclaimed Property at www.ShowMeMoney.com.
About Treasurer Zweifel’s Unclaimed Property Division
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel’s office 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’s office 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’s office never charges for the return of Unclaimed Property.
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Jon Galloway
Office of State Treasurer Clint Zweifel
Director of Communications &
Policy Assistant
Missouri State Capitol, Room 229
P.O. Box 210
Jefferson City, Missouri 65102
(573) 418-2923 (cell)
(573) 751-7595 (office)
(573) 751-9443 (fax)
