SAFER Act of 2026

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8338 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8338 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 16, 2026 Mr. Liccardo (for himself and Mr. Lawler) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Safeguarding Americans' Fairly Earned Retirement Act of 2026'' or the ``SAFER Act of 2026''. SEC. 2. ESCHEATMENT OF CERTAIN SECURITIES, DIGITAL ASSETS, OR INVESTMENT ACCOUNTS HELD BY CUSTODIANS. (a) In General.--With respect to any covered asset that is directly held or beneficially owned by a person or entity and custodied by a financial institution, the financial institution may not yield custody of the covered asset, any proceeds from the sale of the covered asset, or a payment related to the covered asset (such as a dividend, principal payment, fork, or airdrop) pursuant to a State unclaimed property law, regulation, or administrative action or other means of escheatment, unless-- (1) in the case of a covered asset directly held or beneficially owned by a natural person-- (A) the financial institution receives confirmation of the natural person's death at least 3 years before yielding custody; (B) no fiduciary appointed to rep