SAFER Act of 2026

The SAFER Act of 2026 establishes federal standards for when financial institutions can transfer certain unclaimed securities, digital assets, and investment accounts to state governments under unclaimed property laws. It directly affects individuals and entities holding these assets, as well as the financial institutions that custody them. Under the bill, financial institutions generally cannot turn over assets from natural persons unless their death is confirmed at least three years prior with no fiduciary interest, or after five years of no contact for other entities. The bill also requires financial institutions to periodically check death databases for inactive accounts of individuals at retirement age and preempts conflicting state escheatment laws regarding these assets.