Successful Clay County Fair for Treasure Hunters and Savers
DES MOINES, IA (09/20/2017) (readMedia)-- A stop at State Treasurer Michael L. Fitzgerald's Great Iowa Treasure Hunt and College Savings Iowa booth during the Clay County Fair paid off for many fairgoers. "The booth had a very successful year at the Clay County Fair," Fitzgerald said. "New this year, fairgoers were able to make their Great Iowa Treasure Hunt claims directly at the booth and take advantage of the easy-to-use online claiming process." Over 200 fairgoers found nearly $25,000 in unclaimed property.
In addition, fairgoers were able to register for a chance to win a $1,000 College Savings Iowa account during their visit to the booth. "If you missed the chance to sign up at the fair, visit Iowa529Contest.com to enter the 2017 College Savings Iowa fall giveaway," Fitzgerald encouraged. The giveaway is open to all Iowan's until December 31.
The Great Iowa Treasure Hunt program has returned over $232 million in unclaimed property to more than 540,000 people since Fitzgerald created 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.
Be sure to like Great Iowa Treasure Hunt and College Savings Iowa on Facebook and follow the programs on Twitter (@GreatIATreasure and @Iowa529Plan).
*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.
For more information about the College Savings Iowa 529 Plan, call 888-672-9116 or visit www.CollegeSavingsIowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.