Unclaimed Savings Bond Act of 2021

Bill 117 HR 4085, also known as the Unclaimed Savings Bond Act of 2021, aims to address the issue of unclaimed savings bonds in the United States. The bill was introduced in the House of Representatives on March 15, 2021.

The main purpose of this legislation is to establish a process for the Treasury Department to identify and return unclaimed savings bonds to their rightful owners or their heirs. Currently, there are billions of dollars worth of savings bonds that have gone unclaimed, either due to loss or lack of awareness by the owners or their heirs.

Under the provisions of the bill, the Treasury Department would be required to create a searchable online database where individuals can check if they are the rightful owners of any unclaimed savings bonds. The department would also be responsible for making efforts to notify potential owners or heirs of unclaimed savings bonds. Additionally, the bill includes measures to streamline the process for claiming unclaimed savings bonds, including providing guidance on how to submit a claim and establishing a timeline for the Treasury Department to respond to claims. Overall, the Unclaimed Savings Bond Act of 2021 seeks to address the issue of unclaimed savings bonds in a transparent and efficient manner, ensuring that individuals or their heirs are able to access the funds that rightfully belong to them.