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Each state and U.S. territory has its own laws regarding abandoned and/or unclaimed property and looks at factors like owner-initiated contact, owner-initiated account activity and/or returned mail to determine if property is unclaimed. Due to these laws, financial organizations, like Franklin Templeton, are required to report and turn over property to the account owner’s last known state of residence if certain activities do not occur concerning an account within an identified time period. The process of turning over property to the state is known as “escheatment.”
Therefore, it is very important to ensure that your account remains active, according to your state’s or territory’s specific laws.
Actions you can take to help keep your mutual fund shares safe from being escheated include:
In addition, you should take one of the following actions at least once a year, which may qualify as customer initiated contact/activity in your state:
NOTE: Automated transactions, such as the reinvestment of dividends or amounts paid directly to your bank account, are generally not considered account activity.
Depending on the requirements of your state of residence, and if we can’t determine if we’ve had contact with you within the time frame required by your state, we may send you a letter. The letter will ask that you take action by a specific date, by one of the following methods, to keep your account active:
We will rely on you to respond quickly, preferably using one of the methods noted.
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Franklin Templeton Distributors, Inc.
This website is for US residents.
This website is for US residents.
Copyright © 2021 Franklin Templeton. All Rights Reserved.
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You can compare a maximum of 4 funds.
Money funds and liquidated funds cannot be added to comparison.
Quarterly commentary discussing fund performance. View more details
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