SAFER Act of 2026

Section 2(a)(1)(A) prevents financial institutions from turning over a natural person's securities, digital assets, or investment accounts to a state under unclaimed property laws unless the institution receives confirmation of the person's death at least three years prior. This protects living individuals from having their retirement or investment accounts prematurely seized by the government simply due to a lack of account activity.

Section 2(a)(1)(B) protects individuals and their estates by ensuring that custody cannot be yielded if a fiduciary appointed to represent the estate has made an expression of interest in the asset, proceeds, or payment for at least three years before yielding custody. This gives designated representatives adequate time to step in and claim what rightfully belongs to the estate.

Section 2(b)(1) requires financial institutions to check state or federal government databases of deaths every five years for inactive accounts held by individuals who have attained retirement age. This common sense check ensures that financial institutions actively verify whether a person is actually deceased rather than prematurely assuming an inactive account is abandoned.

Section 2(e)(2) clarifies in the sense of Congress that owners of covered assets are not prevented from seeking remedies through state or federal law for the mishandling or improper escheatment of a covered asset. This holds financial institutions and authorities accountable if they improperly handle a person's hard-earned investments.