Little Rock, Arkansas – Arkansas Auditor Dennis Milligan announced that his office is joining a nationwide effort aimed at making it easier for Americans to claim matured savings bonds that have not yet been redeemed.
Milligan said Wednesday that he is working with other state financial officials to encourage changes to federal rules that he believes have created unnecessary barriers for states and residents trying to recover the value of older savings bonds.
The Arkansas auditor said the effort focuses on removing certain bureaucratic restrictions that limit cooperation between state governments and federal agencies. According to Milligan, changing those regulations would help more people reconnect with savings bonds that have reached maturity but remain unclaimed.
The issue has been under discussion for years, with state officials arguing that outdated or complicated procedures can make it difficult for individuals and families to access money they are entitled to receive.
Milligan said he has been working with U.S. Rep. French Hill (R-02) since early 2025 to encourage the U.S. Treasury Department to reconsider regulations involving savings bonds that were put in place during the Biden administration.
“I appreciate Chairman Hill’s dedication to Arkansas and his work on Capitol Hill in always putting our state’s needs first,” Milligan said. “This has been an ongoing issue for decades, and while I’m certainly not the first financial officer to pick up the reins on this issue, I hope to be the last.”
The Arkansas auditor recently joined a group of 30 state auditors, comptrollers, and treasurers who signed a letter dated July 9 calling on President Trump to roll back the regulations. The letter was submitted through the State Financial Officers Foundation, a nonprofit organization focused on promoting fiscally conservative policies.
The group believes that reducing federal restrictions would allow states to play a larger role in helping residents identify and recover matured savings bonds. Supporters of the effort say many Americans may not realize they still have savings bonds that have reached maturity and are waiting to be claimed.
Savings bonds are long-term financial products issued by the federal government that allow individuals to invest money over time. When bonds mature, owners can redeem them for their value, but some remain untouched for years because owners may lose track of them or may not know the redemption process.
Milligan said the goal of the initiative is to improve access and simplify the process while protecting the interests of bond owners. He and other state financial officials are asking federal leaders to reconsider rules they believe stand in the way of effective state-federal cooperation.
The effort is part of a broader discussion among state officials about financial accountability, government efficiency, and helping residents recover assets that may otherwise remain unused.
Milligan’s office said it will continue working with lawmakers and other state financial leaders as the proposal moves forward. The group hopes federal action will lead to a more streamlined system that benefits people across the country who are searching for their matured savings bonds.
