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(NEXSTAR) – More money doesn’t always mean more problems, unless funds that are rightfully yours are being held by your state. Then, you have only a small problem — having to claim it.
Throughout the country, state officials are often left in charge of unclaimed property. It typically comes from inactive bank accounts, bills that you paid too much for, checks that haven’t been cashed, benefits that haven’t been disbursed, or safe boxes that have been abandoned. That property is usually, but not always, monetary.
State laws generally require businesses that owe you funds or property to make every effort possible to return it to you. If they are unable to, it can be turned over to the state office in charge of unclaimed property.
Ohio Lt. Gov. Jim Tressel recently called on the residents to check whether any portion of the $4.8 billion currently in the state’s custody belonged to them.
Even if you don’t live in Ohio, there’s a good chance there is some unclaimed money waiting for you: Projections estimate 1 in 10 Americans have unclaimed property.
How can you tell if you have unclaimed funds?
States have their own repositories that can be easily searched. You’ll need to search your name (or that of a relative or spouse or a business you own) and complete the claim process, which can vary by state and property type.
You can search for property via MissingMoney.com, created by state governments and Canadian provinces, to find property belonging to you throughout both countries, or by clicking on your state name below for more information. Others may automatically return your unclaimed property, like Virginia and North Dakota.
AlabamaHawaiiMassachusettsNew MexicoSouth DakotaAlaskaIdahoMichiganNew YorkTennesseeArizonaIllinoisMinnesotaNorth CarolinaTexasArkansasIndianaMississippiNorth DakotaUtahCaliforniaIowaMissouriOhioVermontColoradoKansasMontanaOklahomaVirginiaConnecticutKentuckyNebraskaOregonWashingtonDelawareLouisianaNevadaPennsylvaniaWest VirginiaFloridaMaineNew HampshireRhode IslandWisconsinGeorgiaMarylandNew JerseySouth CarolinaWyomingSome states end up auctioning off unclaimed items. One such auction in Florida next month features gold, currency, and watches.
Others are holding on to millions or billions of dollars in unclaimed funds. Officials in Arizona, Massachusetts, Missouri, North Carolina, and Oklahoma say their states each have more than $1 billion in property waiting to be collected.
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