State of Iowa still getting lots of unclaimed property

More and more Iowans are forfeiting proceeds from unclaimed property, and State Treasurer Mike Fitzgerald is trying to get the word out on how they can claim the goods. The state logged almost 40 million dollars in unclaimed assets last year. Fitzgerald says only about 15 million dollars went back to the rightful owners. “Unclaimed property comes from bank accounts, savings accounts, people forget about property they own, when they move they don’t get their utility deposits back. That’s where it comes from, Fitzgerald says,”now the average over all is about 400 dollars that somebody has coming.”

Online scams which try to get people to give up their personal information have made it harder to convince people that they have unclaimed property. “When you try to notify folks in this day and age everybody is hypersensitive to scams. Oh, sure they want to give me money. They don’t believe it…. but actually the state’s holding millions of dollars. ,” according to Fitzgerald.

The money goes into the general fund until someone steps forward to claim it. The Great Iowa Treasure Hunt run through the treasurer’s office tries to find the owners of abandoned bank accounts, utility deposits, and other assets. Fitzgerald encourages you to visit the Great Iowa Treasure Hunt website and search for any unclaimed assets awaiting them.

Source: http://www.kjan.com/index.php/2017/11/state-still-getting-lots-of-unclaimed-property/

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