Inactive Account FAQs

To safeguard the shares in the account owner’s mutual fund account(s) from being deemed abandoned and turned over to the state, it is necessary to affirmatively initiate contact with us.

The notice you received provides the methods for you to affirmatively make contact with us. They are as follows:

• Through this website that was set up specifically for this purpose; or
• By the account owner(s) or authorized representative signing the acknowledgement in the letter received and returning it to the address in the letter; or
• By calling the toll-free number contained in the letter received. Contact may be initiated by entering the control number provided in the notice received and the last four (4) digits of the Social Security number or Taxpayer Identification Number registered on the account over the secure automated phone system when prompted, or by speaking to a customer service representative.

Other than the initial setup of the automatic withdrawal option, many states may not consider ongoing automated withdrawals or the reinvestment of dividends as investor-initiated contact.

Investor-initiated contact generally includes:

• Establishing and maintaining ongoing active automatic transactions (varying by state law).
• One-time purchases and redemptions in the mutual fund account.
• Sending a letter to the fund company by the United States Post Office.
• Speaking to a customer service representative on the phone after going through a security verification process.
• Contacting the fund company through their automated phone system, where the account number, Social Security number, or a specific fund identifying number must be provided. 
• Directly accessing the account through the funds’ secure Web application.
• Cashing checks that are received and are made payable to the owner of the account. 

Escheatment is the process of turning over unclaimed or abandoned property to a state authority. Escheatment laws require mutual funds to turn over uncashed checks and/or client account fund shares if the owner cannot be located within a length of time determined by each state.

Unclaimed property is any financial asset with no activity by its owner for an extended period of time. (The definition of “activity” varies by state.) This includes mutual fund accounts, savings accounts, checking accounts, unpaid wages or commissions, stocks, underlying shares, uncashed dividend checks, paid-up life insurance policies, safe deposit boxes, and uncashed benefit checks, gift certificates, etc.

The states have unclaimed property laws to:

• Protect the property rights of owners and reunite them with their funds
• Provide a central point of contact for owners to claim unclaimed funds 

We encourage the account owner or his/her authorized representative to be proactive and make contact with the fund company on a regular basis going forward. Contact can be by one of the following methods:

• Directly accessing the account through the funds’ secure Web application.
• Contacting the fund company through its automated phone system where the account number, Social Security number, or a specific fund identifying number must be provided.
• Speaking to a customer service representative. 
• Cashing checks that are received and are made payable to the owner of the account.
• Sending a letter to the fund company by the United States Post Office.