The Belgian Government plans to recover nearly €500 million from dormant accounts by 2026, with shorter claim deadlines for account holders, according to De Tijd.
The Federal Government aims to shorten the time frame during which citizens can claim these funds, allowing inactive accounts to contribute to the budget.
Officials intend to recover €474 million in 2024 from the Deposits and Consignments Fund (CDC).
Finance Minister Jan Jambon (N-VA) is proposing to cut the claim period to ten years for accounts with missing beneficiaries and five years for inactive accounts.
Since 2008, banks have been required by law to transfer dormant funds to the CDC. Currently, €815 million is held by the CDC, spread across 674,961 accounts and contracts.
'Confiscating'
Flemish liberal party Open VLD has harshly criticised the proposal, arguing that funds in dormant accounts remain private property.
The party claims that amending expiration terms retroactively undermines ownership rights. Leader Frédéric De Gucht described the move as "disguised expropriation without compensation."
De Gucht further criticised what he views as inappropriate government interference. "Budgetary necessity cannot justify eroding property rights. The state is confiscating, controlling, and taxing. This amounts to statism," he said.
Open VLD also pointed out that dormant accounts often result from mergers between banks, changes to account numbers, or lost communication. "You cannot hold citizens accountable for this, let alone penalise them," remarked the party.
Calling the changes "pure patchwork," De Gucht accused the government of pursuing short-term financial gains without offering structural solutions.
"Aiming for €500 million by altering ownership rules is a slippery slope toward arbitrary confiscation policies. This should not be tolerated," he concluded.
