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(Des Moines, IA) -- Record amounts of unclaimed property are reported to the State of Iowa this year. They say it's as high as a 60% spike.
To State Treasurer Roby Smith, it makes sense given the pandemic of three years ago.
"There was lots of business closing, being transferred, bought and sold," Smith says.
Every three years, those assets are turned over to the state. The total recently turned into his office tops $68 million, which is way above the previous record. They're currently holding on to $586 million in unclaimed assets. A program called the Great Iowa Treasure Hunt is used to try to reunite the owners to their assets.
"A lot of it is just simply a lost utility fund or forgotten savings or checking accounts," Smith says. "An insurance benefit or an old payroll check. Lost stocks and dividends."
The Great Iowa Treasure Hunt website can be found here.