Louisiana returned roughly $35.5 million to approximately 116,000 residents via the state’s annual Unclaimed Property Program in fiscal year 2013-14, which Treasurer John Kennedy says is the most money ever returned in a single year in the program’s 42-year history.
“We beat our previous year record by $4.2 million,” says Kennedy in a prepared statement. “This isn’t our money. It is taxpayers’ money, and it belongs back in their hands.”
The average claim through the program this past fiscal year, which ended June 30, was $660. Claims can come from old checking and savings accounts, says Kennedy, as well as old payroll checks, CDs, stocks, dividends, insurance proceeds, utility payments, and oil and gas royalties. When a business or agency cannot locate someone owed a check, usually because of a wrong address, the state receives the money for safekeeping.
This month, the program is printing the names of people with at least $50 in unclaimed property in newspapers across the state. You can also search a database of unclaimed property online.
“We get more money in as quickly as we return it. We’re holding more than $635 million in Unclaimed Property,” says Kennedy. “Christmas is around the corner. It’s the perfect time to check and see if you’re owed money. Check for yourself, check for relatives and check for friends. It’s absolutely free to search and to claim your money.”
Since 1972, the Unclaimed Property program has returned more than $338 million to almost 570,000 Louisiana citizens. —Steve Sanoski
