While Ameriprise makes every effort to locate clients to remove them from the escheatment process, this can easily be avoided by keeping your accounts and personal information current. Most state laws require us to ensure we have affirmative contact with property owners at regular intervals and Ameriprise strives to maintain annual contact with all clients.
If you have not taken action on your account for a certain period of time, the assets may be considered abandoned under state law. Prior to escheating assets to the states, Ameriprise attempts to contact you and it is important that you promptly follow the instructions provided to prevent your assets from being turned over to the state.
To protect your Ameriprise account(s) from being deemed abandoned under state unclaimed property laws and turned over to the state, consider the following easy ways you can establish affirmative contact:
Advisor: Regular communication with your financial advisor in person, over the phone, or via email
Online: Logging into your account on ameriprise.com
Phone: Calling our client service center and being authenticated by the service agent
Check cashing: Checks written to you that have not been cashed will be considered abandoned and may be turned over to the state. Some states will consider your entire account unclaimed if checks remain uncashed beyond a certain time period.