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Dinniman: $3.4 Billion in Unclaimed Property Waiting to Be Claimed
WEST CHESTER (December 26, 2018) – As we approach the New Year, state Senator Andy Dinniman reminded residents to check with the Pennsylvania Treasury’s Bureau of Unclaimed Property to see if there is property waiting for them to claim.
The Treasury returned hundreds of millions in unclaimed property to Pennsylvanians last year. Still, there is more than $3.4 billion in unclaimed property waiting to be claimed by its rightful owners and about 1 in 10 residents have unclaimed property waiting for them.
“Extra cash is always helpful, especially after the holidays,” Dinniman said. “I encourage you to search the database. If your name is listed, please feel free contact my district office for assistance in claiming your property. You just might find that you are due a belated Christmas present.”
You can search the registry by visiting www.patreasury.gov or calling the Treasury’s Bureau of Unclaimed Property toll-free at 1-800-222-2046
Unclaimed property is any financial asset that has gone unclaimed for a period of time, usually three years. Under Pennsylvania law, businesses are required to report this to Treasury, which serves as the custodian until it can find and verify its rightful legal owner. The registry includes items from forgotten bank accounts and stocks, uncashed checks, and rebates, the contents of safety deposit boxes and other unclaimed property.
“Often funds go missing for something as simple as a misspelled name or out-of-date address and owners don’t even know it,” Dinniman said. “If you’ve ever forgotten to cash a last paycheck or reclaim a deposit, that money is not lost forever, it is held for you by the Pennsylvania Treasury and it remains available to be claimed by its rightful owner or heir in perpetuity,”
Dinniman encouraged residents to search the database and see if the Treasury may be holding unclaimed property for them.