All articles tagged with #unclaimed property
Pennsylvania mailed over $22 million in 'Money Match' checks to nearly 100,000 residents as part of a new program that automatically returns unclaimed property valued up to $500, with more than $50 million returned overall; residents are advised to cash or deposit these checks promptly and beware of scams.
Colorado holds over $1.5 billion in unclaimed property, with $677,064,160 returned since the program began in 1987. Residents, schools, hospitals, small businesses, and corporations can search for their unclaimed property on the state's website and file a claim by providing necessary documentation such as a photo ID and social security number. Once the claim is submitted, it can be tracked using a claim number, and if a letter is received from the State of Colorado Department of the Treasury Unclaimed Property Division, the process is similar.
Colorado holds over $1.5 billion in unclaimed property, with $677,064,160 returned since the program began in 1987. Residents, schools, hospitals, small businesses, and corporations can search for their unclaimed property on the state's website and file a claim by providing necessary documentation. The process includes verifying the address, gathering required documents, and tracking the claim using a claim number.
Rhode Island's General Treasurer James Diossa marked National Unclaimed Property Day by urging residents to check for unclaimed property through FindRIMoney.com, a process that takes less than 30 seconds. Unclaimed property includes bank accounts, wages, refunds, and insurance payments, and can be claimed by contacting the state treasury at (401) 462-7676 or [email protected].
The Michigan Department of Treasury holds millions of dollars in unclaimed property, including dormant bank accounts, uncashed checks, and valuables left in safe deposit boxes. Governor Gretchen Whitmer has proclaimed February 1, 2024 as Unclaimed Property Day in Michigan to encourage residents to reclaim their lost assets. The state holds over $2 billion in unclaimed property and returns more than $130 million each year. Michiganders are urged to check if they have unclaimed property and can initiate a claim through the state's website.
More than 30 million people in the United States have unclaimed property, including money from inactive bank accounts, unused rebate cards, or uncashed paychecks, according to the National Association of Unclaimed Property Administrators. State treasurers are urging people to check state-by-state databases to see if they have unclaimed assets, which can range from $10 to $500 on average. Over $4 billion worth of unclaimed property was returned to people in fiscal year 2022, and most states do not have a statute of limitations for claiming your property. All state-based searches and claims processes are free, so be cautious of companies offering to do the legwork for a fee.
Alabama State Treasurer Young Boozer encourages residents to search for unclaimed property for free online through the state treasury's website, treasury.alabama.gov, as the state currently holds over $1 billion in unclaimed funds. Unclaimed property includes financial accounts or items of value that have had no activity for years, and the state returned $50.7 million to citizens in 2023. Residents are urged to check the database annually, and can search using their name, business name, or family members' names.
The Minnesota Department of Revenue is reissuing nearly 150,000 expired one-time tax rebate checks that went uncashed within 60 days of their issuance in August and September. The reissued checks will be valid for 60 days from their new issuance dates, and eligible taxpayers who haven't received the reissued check will be assisted. Unclaimed rebate checks will eventually be transferred to the Unclaimed Property Division of the Minnesota Department of Commerce.
Michigan's unclaimed property program collects hundreds of millions of dollars each year but returns less than half to rightful owners, pocketing over $611 million in the past five years. Critics argue that the state should implement automatic repayment and other reforms to improve return rates, but Michigan officials have little motivation to do so as unclaimed money helps balance the state's budget. The state's online system allows potential owners to claim lost property, but properties under $50 are not listed. Michigan's 48 percent return rate is far behind other states with automatic repayment programs. The state also uses unclaimed property proceeds for discretionary spending, including pork projects. Critics call for greater scrutiny and reforms to ensure more money is returned to owners.
The Pennsylvania Treasury will hold an online auction of unclaimed property on Wednesday and Thursday, featuring fine jewelry, coins, currency, and other items. The auction will include 4,250 items from Treasury's vault, with the majority of items being featured on Wednesday. Interested bidders can preview items on Pook & Pook's website and register to bid. Unclaimed property comes to Treasury in accordance with state law, and proceeds from the auction will be available for the rightful owner to claim at any time.
Pennsylvania Treasury is holding an online auction on April 12 and 13 to sell some of the unclaimed property in its vault, including gold and silver bars, gold coins, Morgan dollars, and various comic books and magazines. The auction is being held to make room for incoming items. Every piece of unclaimed property is held for at least three years, and auction proceeds remain available for the owner to claim at any time. Military decorations and memorabilia are never auctioned and remain in the vault for safekeeping until a veteran or their family is found.