National Treasury Releases Discussion Paper on Centralised Unclaimed Assets

Posted 20 August 2026 Written by Acts Online
Category National Treasury

Brought to you by SA Legal Academy: National Treasury has published a policy discussion paper proposing a centralised framework for the management, tracing, and transfer of unclaimed financial assets, with public comments open until 19 September 2026.

The discussion paper elaborates on policy proposals outlined in the 2026 Budget speech regarding the establishment of a dedicated central administrator responsible for record keeping and tracing across the financial sector.

Key Proposals of the Centralised Framework

Under the proposed model, statutory mechanisms will govern how financial institutions handle dormant balances and unclaimed funds:

  • Asset Transfer Obligations: Regulated financial institutions holding unclaimed financial assets will be required to transfer these balances to the central administrator.
  • Centralised Administration and Tracing: The central administrator will manage central record-keeping and lead tracing mechanisms to connect assets with rightful beneficiaries.
  • Investment with the Corporation for Public Deposits: Transferred assets are to be invested with the Corporation for Public Deposits, a South African Reserve Bank subsidiary responsible for managing public sector deposits.

Submissions and comments on the discussion paper must be submitted to National Treasury by 19 September 2026.

What this means for you, your business, or your clients

  • For yourself: Note future centralised mechanisms to locate and claim dormant personal accounts, insurance policies, or retirement benefits across financial institutions.
  • For your business: Financial services practices must review their dormant account identification mechanisms, tracing systems, and readiness for mandatory asset transfer obligations prior to the 19 September 2026 comment deadline.
  • For your clients: Financial sector clients holding unclaimed liabilities face future mandatory reporting, tracing directives, and fund transfers to the central administrator.

Originally published at https://legalacademy.co.za/news/read/unclaimed-financial-assets-discussion-paper-out-for-comment

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