State Treasurer Michael L. Fitzgerald announced a new change for the Great Iowa Treasure Hunt booth at the Clay County Fair. New this year, fairgoers will be able to make their claim directly with the Great Iowa Treasure Hunt at the booth. A stop inside the Varied Industries building may prove to be financially worthwhile, as fairgoers search their names for unclaimed money. “This year, claimants can search for their names and file their claims online during their visit at our booth,” Fitzgerald said. “Visitors will also be able to learn more about College Savings Iowa’s 529 Plan and register a child to win a $1,000 College Savings Iowa account.”
The Great Iowa Treasure Hunt program has returned over $232 million in unclaimed property to more than 537,000 individuals since Fitzgerald started it in 1983. Unclaimed property refers to money and other assets held by financial institutions or companies that have lost contact with the property’s owner for a specific period of time. State law requires these institutions and companies to annually report unclaimed property to the state treasurer’s office. The assets are then held until the owner or heir of the property is found. Common forms of unclaimed property include savings or checking accounts, stocks, uncashed checks, life insurance policies, utility security deposits and safe deposit box contents. Go to GreatIowaTreasureHunt.gov
to search for your treasure today.
College Savings Iowa is an affordable, tax-advantaged option for families who are saving for their children’s higher education. It takes just $25 to open a College Savings Iowa account, and anyone – parents, grandparents, friends and relatives – can invest on behalf of a child. Participants who are Iowa taxpayers can deduct contributions up to $3,239 per beneficiary account from their adjusted gross income in 2017 and there are no income or residency restrictions.* To learn more about College Savings Iowa, go to CollegeSavingsIowa.com
or call 1-888-672-9116.
Visit the Great Iowa Treasure Hunt and College Savings Iowa booth during the Clay County Fair in the Varied Industries building. The building will be open from 9 a.m. to 8 p.m. September 9 through September 16 and 9 a.m. to 6:30 p.m. on September 17. Be sure to like Great Iowa Treasure Hunt and College Savings Iowa 529 Plan on Facebook and follow the programs on Twitter (@GreatIATreasure and @Iowa529Plan) to keep up to date.
*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The availability of tax or other benefits may be contingent on meeting other requirements.
**Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.