Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (2024)

A Network of the National Association of State Treasurers

Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (1)

Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (2)

Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (3)

A Network of the National Association of State Treasurers

Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (4)

Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (5)

Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (6)

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About the National Association of Unclaimed Property Administrators

Since 1935, the U.S. Treasury’s Bureau of the Public Debt has issued more than six billion savings bonds worth more than $600 billion. Approximately $26 billion in savings bonds have reached final maturity and ceased to pay interest. The Bureau does not have an active program to locate the bondholders and reunite them with the proceeds of their bonds. S.2417, the Unclaimed Savings Bond Act of 2019, proposes to empower the states to act on behalf of the Bureau to find owners of matured unredeemed savings bonds and facilitate the payment of their claims.

Access a copy of the legislation as well as sponsorship information:S. 2417

View Sen. Kennedy’s speech on Unclaimed Savings Bonds: Video 1,Video 2

Why S.2417 Is Necessary

Most savings bonds have an initial maturity of 20- to 40-years. When savings bonds reach final maturity, and cease earning interest, the Bureau does not notify the bondholder. For those fully matured bonds remaining unredeemed, there is no active program by the Bureau to locate the bondholders and pay them the proceeds to which they are entitled. Traditionally, it has been up to the registered owner to remember to redeem the matured bond decades after the initial purchase. This has resulted in approximately $26 billion in matured U.S. savings bonds left unclaimed in the U.S. Treasury.

Formal NAUPA Statement Issued on August 23, 2019:

Passing the Unclaimed Savings Bond Act of 2019 will allow state treasurers and other state officials who administer unclaimed property programs to return more than $25 billion in unclaimed savings bonds to the rightful owners. We support Senator Kennedy’s bill, and look forward to working with Congress to secure passage of the legislation.

Contact Your Senators and Representatives to ask them to Sponsor the Unclaimed Savings Bond Act

As the State Treasurer, program administrators, or other advocates, NAST and NAUPA encourages you to contact your entire Congressional delegation asking them to support the bill. (Please thank the member if they are already supporting it.)

Here is asample letter for the Senateand Houseto use as a draft, then follow up with an email, and a telephone call. Please send a copy to NAST so we can also follow up.

To assist with your call, here is a list of Congressional staff to contact by state and office for theSenateandHouse.

Once done, your office may want to send a press release stating your support for the bill’s passage. Here is asample of a releaseyou may wish to review when drafting your own.

NAST encourages you to submit an op-ed to your largest state’s newspaper.Here are some tipson how to write one for print or online submission. Send us a link once published and we’ll help promote it.

Here is anexample of an op-edoutline.

FAQs

Q: Why are there so many unclaimed savings bonds?

A: After tens of years, many bond holders no longer have record of the bond – they are often lost, stolen, destroyed, or the physical bond is otherwise not available. Records relating to savings bonds are not fully automated, so a report listing the owners of matured, unredeemed accrual savings bonds is not easily accessible to the rightful owners. Claims filed after six years of maturity of a savings bond are entertained only if the claimant supplies the serial number of a bond. However, in many cases the U.S. Treasury is the sole holder of that information, making retrieval extremely difficult. As a result, approximately $26,000,000,000 in matured U.S. savings bonds are presently left unclaimed in the U.S. Treasury.

Q: Why are states the appropriate entity to help facilitate bond owners’ receipt of funds for unclaimed U.S. Savings Bonds?

A: The U.S. Treasury has not made an affirmative effort to contact the owners of unredeemed savings bonds to assist them in redeeming them. All fifty states, the District of Columbia and Puerto Rico have existing, successful unclaimed property programs. If, given access to federal records, states will be able to list the bonds in their established unclaimed property databases allowing them to make the strongest impact on the effort to reunite bond owners with their lost bonds. The existing infrastructure that is already empowering states to return unclaimed property will enable states to successfully add savings bonds to their unclaimed property programs.

Q: What is the potential value of bonds to my state?

A: Based on historical buying patters and population, the estimated value of unredeemed, lost, or missing bonds has been calculated here.

For additional assistance, please contact Jeremy Dawson, NAUPA Director atJeremy@StateTreasurers.org

Unclaimed Savings Bond Act Toolkit – National Association of Unclaimed Property Administrators (NAUPA) (2024)

FAQs

Is Naupa legitimate? ›

NAUPA is the leading, trusted authority in unclaimed property.

How do I find out if I have any uncashed savings bonds? ›

With your Social Security Number (or Taxpayer Identification Number) or name and state, you can use our Treasury Hunt search to see if you have any savings bonds listed in our database. If you do, you'll get information on how to claim and cash them. We update Treasury Hunt every month.

How do I know if I have money from the government? ›

www.unclaimed.org is the website of the National Association of Unclaimed Property Administrators. This is a legitimate site created by state officials to help people search for funds that may belong to you or your relatives. Searches are free.

How do I claim unclaimed savings bonds? ›

If your bond was issued in 1974 or after, go to Treasury Hunt. Enter the information Treasury Hunt requests. If the system finds your bonds, it will give you a special version of FS Form 1048 that enables us to process your claim without serial numbers.

Does missing money really work? ›

Each state offers a free online search of their unclaimed property database, and there's no fee to claim funds that are owed. The NAUPA has created a website, www.missingmoney.com, that allows users to search most states' sites at once, and, if the states allow, to even file a claim directly.

How to claim unclaimed money in Tennessee? ›

You can claim your unclaimed cash or property as easy as 1-2-3!
  1. 1) Visit our search portal at ClaimItTN.gov.
  2. 2) Enter your name and information.
  3. 3) If there's a match, claim your cash!

How much is a $100 EE savings bond worth after 30 years? ›

How to get the most value from your savings bonds
Face ValuePurchase Amount30-Year Value (Purchased May 1990)
$50 Bond$100$207.36
$100 Bond$200$414.72
$500 Bond$400$1,036.80
$1,000 Bond$800$2,073.60

Can I look up bonds in my name? ›

The U.S. Treasury keeps a record of each U.S. savings bond's original owner, and offers a partially-complete online listing of those owners' bonds. Using the owner's social security number, you can search for unclaimed U.S. savings bonds, or file a claim for one, by going to the U.S. Treasury's Treasury Hunt webpage.

Can I cash my deceased parents' savings bonds? ›

TO CASH BONDS FOR A DECEDENT'S ESTATE:

Series EE, Series E, and Series I bonds can be cashed at a local financial institution. Some of these transactions may have to be forwarded for further processing. Series HH and Series H bonds must be sent to one of the addresses shown at the bottom of the following page.

Can the government pull money from your bank account? ›

The IRS can take money out of your bank account when you have an unpaid tax bill, but levies aren't automatic. If you owe unpaid tax debts to the federal government, the IRS has to follow the proper procedures in order to take money from your bank account.

When the government sends you money? ›

When you'll receive your payment
Last 3 digits of ZIP codeMailing timeframes
376-58411/15/2021 through 12/03/2021
585-71911/29/2021 through 12/17/2021
720-92712/13/2021 through 12/31/2021
928-99912/27/2021 through 1/11/2022
3 more rows

How do I check my funds? ›

How to Check Your Bank Account Balance
  1. On Your Bank's Website.
  2. Through Your Banking App.
  3. At an ATM.
  4. Over the Phone.
  5. With Bank Statements.
  6. Through Account Alerts.
  7. With a Bank Teller.
Jan 12, 2024

How do I know if I have uncashed savings bonds? ›

Search for matured savings bonds and missing interest using Treasury Hunt, an online tool from TreasuryDirect.

What happens to unredeemed savings bonds? ›

Occasionally, bond owners hold onto bonds after they have reached maturity and are no longer earning interest. These outstanding but unredeemed bonds are called Matured Unredeemed Debt (MUD) . The government continues to be responsible for this debt, as it may be redeemed at any time.

What is naupa? ›

NAUPA is the foremost authority on unclaimed property

The National Association of Unclaimed Property Administrators (NAUPA) leads and facilitates collaboration among administrators in their efforts to reunite unclaimed property with the rightful owner.

Is the National Registry legit? ›

The National Registry is accredited by the National Commission for Certifying Agencies (NCCA), the accreditation body of the Institute for Credentialing Excellence.

Is abandoned property advisor legit? ›

APA is not just another vendor; they're a partner, ensuring minimal exposure and optimal results. As the go-to choice for North America's top corporations, APA is synonymous with trust, efficiency, and excellence in the domain of abandoned property management.

Is NYS unclaimed funds legitimate? ›

New York State has over $13 billion in lost money. Every day we return $1 million to those who file a claim. Lost or unclaimed money gets turned over by organizations required to report dormant accounts to the New York State Office of the State Comptroller.

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