4 Fast Facts
- U.S. savings bonds have declined in popularity over the years
- $722,000 in unclaimed savings bonds in Indiana
- Many bonds were passed down or have old information
- Hoosiers can check online to see if they have unclaimed money
INDIANAPOLIS, Ind. (March 3, 2016) – More than $700,000 in Indiana savings bonds are still unclaimed, even decades after they've matured.
"Years ago, people used to buy savings bonds really out of a sense of patriotism," said Indiana Attorney General Greg Zoeller. "You would buy them for your children or yourself, but it was really an investment in our Country."
Although savings bonds aren’t nearly as popular as they once were, many of the matured bonds are getting lost and ending up in unclaimed property divisions across the country.
The Indiana Attorney General Unclaimed Property Division has placed public notices in newspapers across the state about 1,772 bonds valued at more than $722,000.
"We've really been working very hard to get the money back to the rightful owners," said Zoeller. "If you're holding a matured savings bond, you should really look at it and go collect it before it comes to the Office of the Attorney General as unclaimed money."
Zoeller recommends that Hoosiers review the specified unclaimed savings bond owner list to see if they’re on it. In many cases, the bonds will have passed by inheritance to someone other than the original owner. Many of the bonds have outdated information, as old as 74 years in some cases.
“It's a big challenge to return the proceeds of these savings bonds to the rightful owners, the hardworking citizens of Indiana," Zoeller said. "The fact that these old bonds lack complete information has made it more difficult to find the owners, but since it comes from investments that Hoosiers made in our country it makes the effort very worthwhile.”
If the bond does get turned over to the Unclaimed Property Division, it will remain there for 25 years but after that the money could go to the State.
You can check to see if you’re on the list by going to IndianaUnclaimed.gov and starting the claim process. Hoosiers can also call 1-866-IN-CLAIM (1-866-462-5246).