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Lost IRA Search - Find a missing Individual Retirement Account |
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Lost and Unclaimed IRAs - Individual Retirement Account Search |
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Approximately 50 million
Americans own IRAs, including Traditional IRAs, Roth IRAs and Education
(Coverdell) IRAs; as well as SEP (Simplified Employee Pensions) and
SIMPLE (Savings Incentive Match Plan for Employees) IRAs - totaling an
estimated $3 trillion. Almost half of all IRAs are administered by and invested in various mutual funds. About a third are held in brokerage accounts, while bank deposits and life insurance annuities account for the remainder. About 15% of IRAs worth cumulatively worth $450 million are held by those aged 70 and above. Due to tax free compounding over the years, the average accounts is valued at about $100,000. While unclaimed 401(k) retirement plan assets come under federal guidelines mandated by ERISA (Employee Retirement Income Security Act of 1974); missing and forgotten IRAs at banks, brokerages and insurance companies do not. Traditional Individual Retirement Accounts may be considered dormant or unclaimed if a withdrawal is not made by age 70½; the age at which non-withdrawal triggers a 50% tax penalty. Both Traditional and Roth IRAs may be considered abandoned if one or more distribution checks remains uncashed, which can occur as soon as the owner reaches age 59½. Due to the long term nature of this type of investment, each year owners and heirs who may not be aware of an account's existence fail to claim IRAs worth tens of millions of dollars. For information on tracing, claiming lost, missing and unclaimed IRA assets complete the form below. |
| Unclaimed Individual Retirement Account Search |
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