Protects Americans' retirement and investment accounts from early state seizure.
This bill would protect Americans' retirement and investment accounts, including digital assets, from being taken by states too soon. It would set new federal rules for financial institutions, making them wait longer and confirm deaths before turning over unclaimed assets to state governments. This means your money would stay in your account for a longer time if you become inactive or pass away.
Today, state laws allow financial institutions to turn over unclaimed securities, digital assets, or investment accounts to the state after periods of inactivity. This can sometimes happen too soon. If this bill becomes law, financial institutions would need to wait longer before turning over assets. For individuals, they must wait at least three years after confirming a person's death. For organizations, they must wait five years without contact from a representative. For retirees, institutions would also have to check a government death database every five years after a period of no contact.
HR 8338 · 119th Congress · April 16, 2026 · AI Summary by gemini-2.5-flash · 10/10
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