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State Treasury proactively returning $10 million in unclaimed funds to Oregonians

Oregon State Treasury

SALEM, Ore. (KTVZ) — Oregon State Treasurer Tobias Read announced Friday that the state Treasury will be proactively returning approximately $10 million in unclaimed property this month to individuals as part of the agency’s 2024 'Checks Without Claims' initiative.

“We’re excited to reconnect thousands of individuals with their unclaimed funds without requiring any action on their part,” Treasurer Read said. “In addition to collecting and safeguarding Oregonians’ unclaimed property, Treasury is committed to returning these assets and helping to bolster our citizens’ financial well-being.”

Through 'Checks Without Claims,' Treasury will proactively disburse payments to verified owners of unclaimed property reported to the state's Unclaimed Property Program in 2021 and 2022. Payments, via check, will be mailed to individuals this month and accompanied by an additional confirmation letter from the Treasurer.

In 2023, Treasury's Unclaimed Property Program conducted 'Checks Without Claims' and reconnected more than 18,000 individuals – from Oregon and 47 other states – with their unclaimed funds.

With over $1 billion in unclaimed funds currently held by the state, 'Checks Without Claims' is one of many efforts to reconnect more Oregonians with their unclaimed money and property.

Payments distributed through 'Checks Without Claims' represent unclaimed property reported to the state in 2021 and 2022 by various businesses and organizations that were unable to return funds to the rightful owner. Common examples of unclaimed property include uncashed checks, forgotten bank accounts, tax refunds, credit balances, investment accounts, payroll checks, refunds, and more.

Nearly one in seven people in the United States has unclaimed property. To help raise awareness around unclaimed funds, Treasury joined programs across the country this week to celebrate National Unclaimed Property Day, held annually on February 1. In fiscal year 2023, more than $5.4 billion dollars in unclaimed property was returned to its rightful owners according to the National Association of Unclaimed Property Administrators.

Typically, individuals need to file a claim with Oregon’s Unclaimed Property Program and complete the verification process to receive the funds they are owed. Treasury conducts 'Checks Without Claims' to proactively verify some owners of unclaimed assets and facilitate payments directly to them. Checks distributed will vary in amount between $50 and $10,000.

Searching for unclaimed funds is free and easy. Interested individuals are encouraged to visit Treasury’s unclaimed property website at unclaimed.oregon.gov.

More information about 'Checks Without Claims' is available online at https://unclaimed.oregon.gov/app/checks-without-cl... Questions about unclaimed funds or “Checks without Claims” can be directed to Oregon’s Unclaimed Property Program via email claims@ost.state.or.us or phone at 503-378-4000.

About Oregon State Treasury
Oregon State Treasury improves the financial well-being of all Oregonians. We provide low-cost banking, debt management, and investment programs for governments and empower Oregonians to invest in themselves and their loved ones through the Oregon College Savings Plan, Oregon ABLE Savings Plan, and OregonSaves.

Article Topic Follows: Oregon-Northwest

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