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Treasurer sets record in unclaimed property returns

by Ryan Pivoney | August 13, 2021 at 4:05 a.m. | Updated August 13, 2021 at 11:08 a.m.

Almost 31,000 Missourians were returned more than $7.7 million in unclaimed property in July, state Treasurer Scott Fitzpatrick announced Thursday.

July marks the fifth time the office has broken a record for unclaimed property returns.

Unclaimed property usually consists of cash from bank accounts, stocks, bonds and abandoned safe deposit boxes, but it also includes uncollected insurance policy funds, government refunds, utility deposits and checks from previous employment.

The Treasurer's Office also has more than 250 military medals and insignia that have been turned over as unclaimed property. As treasurer, Fitzpatrick currently manages more than $1 billion in unclaimed assets in more than 5 million owner accounts.

About one in 10 Missourians have unclaimed property with an average return of $300.

"Returning this money to rightful owners is a priority for my office," Fitzpatrick said in a news release. "This record-breaking accomplishment is a reflection of the dedicated staff in my office as well as effective outreach efforts. I am always looking for new ways to connect Missourians to their money through innovative partnerships and new promotional strategies."

The state's previous record, set in 2011, was $7.3 million in unclaimed property returned in a single month. It included the program's largest single claim of $6.1 million.

This isn't the first unclaimed property record achievement to be set recently. In July, Fitzpatrick announced the office returned more unclaimed property in fiscal year 2021 than any other fiscal year in the program's history.

In addition to claims that can be submitted at ShowMeMoney.com, Fitzpatrick said he is committed to implementing innovative ways for Missourians to receive their returned property.

The Treasurer's Office partnered with the Missouri Department of Labor and Industrial Relations last year to return unclaimed property to Missourians applying for unemployment benefits amid the COVID-19 pandemic, which resulted in more than 17,000 Missourians being returned more than $4.3 million.

He also has a partnership with the Missouri Department of Social Services that created an automatic system to match past-due child support cases with the unclaimed property database, resulting in $3.9 million to Missourians so far.

Missouri State Fair goers can search and file a claim at the unclaimed property booth in the Mathewson Exhibition Center from 9:30 a.m.-3:30 p.m. every day the fair is active.

Print Headline: Treasurer sets record in unclaimed property returns

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