(Des Moines, Iowa) – State Treasurer Roby Smith reports businesses will soon be doing their due diligence to inform Iowans they may have unclaimed assets. “Before an inactive bank account, uncashed check or other form of unclaimed property is sent to my office, the business holding the asset must perform their due diligence,” said Smith. “This is usually done by a letter to the last known address of the owner and gives a deadline for the owner to contact the business.”

Property that remains unclaimed after a specific period of time is sent to the State Treasurer’s Office for safekeeping. The Treasurer then works to reunite the owner or rightful heir with their property through the Great Iowa Treasure Hunt. “If you receive a due diligence letter, I encourage you to reach out to the business and take action,” continued Smith. “However, if your assets are turned over, it’s important to know you can always make a claim for them at GreatIowaTreasureHunt.gov.”

The Great Iowa Treasure Hunt is Iowa’s only legitimate source of unclaimed property. Over $485 million in forgotten checking and savings accounts, stocks, uncashed checks, life insurance policies, utility refunds, safe deposit box contents and other forms of unclaimed property are waiting to be claimed at GreatIowaTreasureHunt.gov. The website is free and secure, and allows you to search for your name or for businesses and people you know.