Bill would reunite citizens with billions of dollars in unclaimed bonds

A bipartisan plan in Washington would reunite tens of billions of dollars in bonds with their rightful owners or heirs.

About $26 billion in savings bonds is sitting unclaimed at the U.S. Treasury. The bill, if approved, would require the Treasury to transfer the bond to states.

Read: Are you leaving unclaimed tax money on the table?

Officials could then notify someone to cash in the bond, even if they no longer have the proper paperwork.

In Florida, there is about $1.4 billion in unclaimed bonds.

“The federal government doesn’t have a process to go out and seek individuals to return their money. State treasuries do,” said Rep. Ron Estes (R-Kansas).

The Treasury says it’s developing an online tool that will be shared with states.

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