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AG Zoeller seeks to find rightful owners of decades-old Savings Bonds
Start Date: 3/2/2016Start Time: 12:00 AM
End Date: 3/2/2016
Entry Description

INDIANAPOLIS, Ind. – Savings Bonds – once used as a way to save for the future or as a meaningful gift for children and grandchildren, have almost become a thing of the past.  The historic nature of the Savings Bond is cause for many becoming lost and ending up in the possession of unclaimed property divisions across the nation.  The Indiana Attorney General’s Unclaimed Property Division is no exception.  Indiana is working hard to return the bonds that they have in their possession, however the process has been difficult as these bonds have outdated information that consists of names and addresses that are at least 27 years old, and in some cases as old as 74 years old.   

In an effort to find the rightful owners of this unclaimed money, a public notice has been placed in each of the major newspapers across the state that lists 840 bond owners of 1,772 U.S. Savings Bonds with a total matured value of $722,266.99. 

In the last month, the Indiana Unclaimed Property Division has created over 2,000 claims for matured bonds.

Zoeller encourages all Hoosiers to review the list and pass it along to friends and family, remembering that in many cases these bonds will likely have passed by inheritance to persons other than the original owner.

“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.” 

This effort is part of a larger initiative to assist Hoosiers in obtaining millions of dollars in matured U.S. Savings Bonds that are currently being held by the United States Treasury.  Currently, the United States Treasury is not required to turn over unclaimed U.S Savings Bonds unless the State obtains title of the bonds.  With the necessary resources to return the unclaimed property already in place, Indiana is seeking a court judgment to take title of the matured U.S. Savings Bonds in our possession, as well as unredeemed, matured bonds issued to Indiana residents.  This step is necessary for the Unclaimed Property Division to include these bonds in the State’s unclaimed property database, giving Hoosiers the opportunity to claim and collect their money.

The Indiana Attorney General’s Office has a proven track record in returning unclaimed money to the rightful owners.  Through extensive outreach, advertising and a searchable database, a record 108,477 properties totaling more than $88.5 million in unclaimed property was returned to Hoosiers in 2015 and a total $610 million has been returned since 2000.      

If you believe you are entitled to the above mentioned unclaimed U.S Savings Bonds, either by ownership or as an heir, please visit www.IndianaUnclaimed.gov to begin a claim.  The Unclaimed Property database can be searched 24-hours a day, 7 days a week.  The Unclaimed Property Division’s toll-free number is 1-866-IN-CLAIM (1-866-462-5246).  This is a free service of the Indiana Attorney General’s Office. 
Contact Information:
Name: Jaime Barb
Phone: 317-234-8105
Email: Jaime.Barb@atg.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • Education
  • Government
  • Agency Name
    Attorney General

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