Escheatment is the process of identifying accounts that are considered abandoned and turning over those funds to the appropriate state. Financial institutions are required to turn over unclaimed property to comply with state laws.
Your account may be considered abandoned if your account has been inactive (you haven't logged in) for several years or we haven't been able to deliver any paper communications to you for some time. The inactivity period varies by state, but is typically between three and five years.
To avoid the escheatment of your account, simply log in. Logging in automatically updates our records, and we consider your account to be active at that time. It's also a good idea to update your contact information to make sure we have a current address and phone number on file.
If your account has already been escheated, contact your state's unclaimed property division to reclaim your funds.
If you are unable to log in to your account or have questions or concerns about escheatment, contact your local Scottrade office for assistance at 800-619-SAVE.