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Celebrate 529 Day with FIVE Chances at $529 
To celebrate 529 Day and add a little cheer to the summer, we are giving away five $529 College Savings Iowa contributions. Celebrated on May 29, 529 Day is a national celebration of college savings plans around the country and showcases the importance of saving for a child’s future. It takes the whole family to help prepare our children for their education and beyond, and 529 Day is another way for me to spread awareness about the importance of 529 plans like College Savings Iowa. By giving away five $529 College Savings Iowa contributions, I’m hoping to guide more families down the path of saving for higher education. A little can go a long way when invested with College Savings Iowa and getting more Iowans involved with savings can help more children achieve their dreams. The giveaway is open May 1 through May 31, and any Iowa family with a child or grandchild under the age of 18 is eligible to register. You can visit Iowa529Contest.com to watch our short video and sign up for the giveaway before the deadline. This 529 Day, help me spread the message by forwarding this newsletter to family and friends so they can register for the giveaway and learn about the importance of saving for higher education. Together we can create a bright future for our future generations. While our summer is looking a little different right now, that doesn’t mean we can’t celebrate. Despite the challenges this year, high school seniors are still graduating and preparing for their next steps. Whether those steps be colleges and universities or trade and vocational schools, many families will be starting to use their College Savings Iowa investments for the first time. I want to make sure as many families as possible are prepared for that moment, so I would urge anyone who hasn’t done so yet, to check out CollegeSavingsIowa.com. College Savings Iowa offers families a tax advantaged way to save money for their children’s higher education. It only takes $25 to open an account, and anyone – parents, grandparents, friends and relatives – can invest in College Savings Iowa on behalf of a child. Iowa taxpayers have the additional benefit of being able to deduct contributions up to $3,439 per beneficiary account from their 2020 Iowa income taxes.* *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. |
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Weathering Through COVID-19 
As the COVID-19 pandemic creates a new normal for many Iowans, my staff and I continue to operate with the same intensity you have come to expect from the Treasurer’s office. Some of my staff is working remotely as we reduce the staffing levels in the office. Through this time, we continue to provide the same services with the same mission – to keep the money safe and serve Iowans. In response to the pandemic, the lobby is closed to the public until further notice. However, College Savings Iowa, IAble and the Great Iowa Treasure Hunt remain staffed and open to serve you. Contact Us The Great Iowa Treasure Hunt webpage is accessible for searching and claiming unclaimed property 24/7. There may be delays in processing when mailing documents to the office; therefore, I encourage claimants to utilize our secure portal to upload supporting documentation and complete their claims. College Savings Iowa and IAble account owners are encouraged to visit their respective websites to access and manage their accounts. Electing e-delivery for all documentation can help make sure you receive timely transactions and communications regarding your account(s). Visit each plan’s website for more information on e-delivery. Visit IowaTreasurer.gov for financial literacy resources, services for businesses and more. Social Media Keep up with all things treasury by following Iowa Treasurer on Facebook and Twitter. For updates related to College Savings Iowa, visit its Facebook and Twitter. |
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5 Things to Know About IAble 
What is an IAble account? After the Achieving a Better Life Experience (ABLE) Act was passed by the federal government, states were allowed to create tax-advantaged savings plans for eligible individuals with disabilities, and their families, to save for qualified disability related expenses without the fear of losing their federal benefits. IAble is Iowa’s ABLE plan and enables account owners to use the funds for qualified expenses such as assistive technology, housing, education and more.* Why the need? Many individuals with disabilities and their families depend on public benefits like Social Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid and more. Eligibility for these programs are often means-tested, which limits the individual from having more than $2,000 in savings or they risk the loss of their benefits. IAble allows eligible individuals to save above the $2,000 threshold and still maintain eligibility for these programs. Who is eligible to open an IAble account? An individual is eligible to open an account if the onset of their disability was present before the age of 26. An individual can be over the age of 26 and open an account, but the disability had to be present before their 26 birthday. If you meet the age criteria and are entitled to SSI and/or SSDI, you are eligible to open an account. If you are not receiving SSI and/or SSDI but still meet the age criteria for onset, you may have the option to self-certify. How can I help an IAble account owner during the COVID-19 pandemic? During these trying times, it’s important to look out for those we love. You can do so by contributing to their IAble account. As a bonus, if you are an Iowa taxpayer, you can deduct up to $3,439 of your contributions from your adjusted gross income taxes for 2020.** Just ask for the account owner’s unique and secure Ugift code to make a contribution today. How do I manage my account during the COVID-19 pandemic? I recognize the importance of being able to access critical accounts like IAble during these trying times. Our website, IAble.gov, has the tools for you to find answers to FAQ’s, discover which type of investor you are, open an account and manage your existing account. *Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes. ** The Federal Annual Contribution is $15,000. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. Adjusted annually for inflation. |
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Free Money? Tips on How to Find Unclaimed Property 
You know how exciting it is to find some extra money in your pocket or under the couch cushion. Imagine how surprising it’ll be to find unclaimed property waiting for you or a family member just a few clicks away at GreatIowaTreasureHunt.gov. Each year, millions of dollars are turned over to the Great Iowa Treasure Hunt as unclaimed or abandoned by financial institutions and businesses. These assets may be in the form of cash, stocks, bonds, insurance benefits or even valuables from safe deposit boxes. Since 1983, the Great Iowa Treasure Hunt program has returned over $280 million in unclaimed property to more than 532,000 past and present Iowans. Here are some tips on where to find unclaimed property:
Other sites you can search for unclaimed money:
I look forward to continuing our efforts to return forgotten money to the rightful owner and encourage everyone to search their name on the website annually to see if we have something that belongs to you. Visit GreatIowaTreasureHunt.gov to begin your search and make your claim today. |
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Keeping Iowans Finances Safe from Scammers 
As part of the federal response to the COVID-19 crisis, the Internal Revenue Service (IRS) has been distributing economic impact payments. Iowans are already receiving their payments by direct deposit or by mail from the federal government. Unfortunately, even during a global health crisis, scammers have no shame and will try to take advantage of the public. I’m warning Iowans to be on the lookout for scams to protect themselves and their money. Here are some tips from the Federal Trade Commissions to help protect your payment:
Many individuals and families are under financial strain. Be sure to pay attention to your bank accounts, credit card statements and monitor your credit score for irregularities. Iowans can report scams to the Federal Trade Commission at ftc.gov/complaint or through the Iowa Attorney General’s office at IowaAttorneyGeneral.gov. My office is not responsible for issuing these payments. Further questions can be directed to your federal senators or representatives. Share this information with your friends and family to keep those you love safe as well. For more information on economic impact payments, visit IRS.gov. |
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State Treasurer of Iowa Newsletter |
State Treasurer of Iowa
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