SAFER Act of 2026 Safeguarding Americans’ Fairly Earned Retirement...
To prevent the premature seizure of an individual's securities, digital assets, or investment accounts in the custody of a financial institution under State escheatment laws, and for other purposes.
This bill, known as the SAFER Act, aims to protect individuals from losing their securities, digital assets, or investment accounts held by financial institutions due to State escheatment laws. These laws often claim ownership of assets if they are not accessed for a long time. The bill ensures that people's fairly earned retirement funds are not prematurely seized.
The bill would primarily affect individuals who hold investments with financial institutions, including retirement accounts. It aims to safeguard these accounts from being claimed by the state due to inactivity, thereby preserving the owner's access to their savings.
Introduced on April 16, 2026, the bill has been referred to the House Committee on Financial Services for further review. Key actions include its introduction in the House and its referral to the relevant committee, indicating the start of the legislative process.
