Did you know mutual fund accounts can be considered abandoned property? Many states are looking at inactive mutual fund accounts as possible abandoned property. If you have not accessed your MainStay account in the last 24 months, it may be at risk of being forfeited to your state government.
Different states have different criteria for defining inactivity and abandoned property, but generally a mutual fund account may be subject to "escheatment" if the account owner has not conducted any transactions or contacted the fund company holding the account for three to five years.
Help us, help you. We strongly encourage all MainStay shareholders to contact us at least once every two years or sooner to review your account information. It's also important to promptly notify us of any name or address changes, so that your account statements and other mailings are sent to the proper address.
Below are ways in which you can assist us in safeguarding your MainStay investments. Any one of the following will allow us to establish that you have made contact on your account as of the date received.
- Log into your account at mainstayinvestments.com to view your account information. Once you log in, we will capture the log-in and consider it contact. Please note that simply visiting our public web site will not satisfy establishing contact with us and state escheatment rules. You must enter your User ID and Password to establish contact.
- Call our 24-hour automated service line at 800-MAINSTAY for an account balance using your password. We will capture this activity and consider it contact.
- Call one of our customer service representatives at 800-MAINSTAY, option 2, Monday through Friday from 8:00 a.m. to 6:00 p.m eastern time
- Take action on letters received in the mail from MainStay concerning account inactivity, outstanding checks, and/or escheatment and follow the directions in the letter, so we may capture your response.