The “Show Me” State Legislature of Missouri is moving forward with legislation to move more money into the hands of its residents (and the State Treasury)
If new legislation becomes law, the State Treasurer, Clint Zweifel will start the process of redeeming US Savings Bonds currently held by the Federal Government when those bonds have been misplaced or lost in order to help reunite Missourians with their money. That amount is potentially in the Millions of Dollars.
The Benefit to the State? Missouri would safeguard the cash value of the bonds for owners and enable the State’s Unclaimed Property team to work towards finding the rightful owners. Owners or heirs would find federal bonds using www.showmemoney.com as they do for other financial assets safeguarded by the State of Missouri.
The State Treasury already holds more than $810 million in Unclaimed Property for more than 4.7 million owners. During Fiscal Year 2013, the State Treasurer returned a record-breaking $39.5 million to more than 135,000 accounts.
The Bank of Canada (as of December 2013) holds approximately $420 Million in Canada Savings Bonds that have matured but have not been redeemed. While Canadians can search the database on the Bank of Canada website for Unclaimed bank accounts (Federally chartered bank accounts (held in Canadian Dollars only) where there has been no activity for more than 10 years, there is no equivalent site for Unclaimed Canada Savings Bonds.