State Treasurer of Iowa

Treasurer Smith Raising Awareness on Due Diligence Letters

July 9, 2024

DES MOINES, Iowa – State Treasurer Roby Smith wants to inform Iowans that businesses soon will be sending due diligence informing customers they may have unclaimed assets. “Businesses holding dormant assets are required to send due diligence before sending unclaimed property, such as an uncashed check or inactive bank account, to my office,” said Smith. “Due diligence is usually done by letter and sent to the owner’s last-known address, stating property will be turned over to the State if the owner fails to respond to the business within a specified time frame.”

Unclaimed property sent to the State Treasurer’s Office is held for safekeeping. The Treasurer then works to reunite the owner or rightful heir with their property through Great Iowa Treasure Hunt. “If your assets are turned over, it’s important to know you can make a claim from However, if you receive a due diligence letter, I encourage you to contact the business and take action,” concluded Smith. 

Great Iowa Treasure Hunt is Iowa’s only legitimate source of unclaimed property. Over $524 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 The website is free and secure, and allows you to search for your name or for businesses and people you know.

To see if you have unclaimed property in Iowa, visit Connect with the Treasurer on Facebook, Instagram and X to stay up-to-date on all areas of the office.


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