Maine returns $18 million in unclaimed property, breaks state record

Tue, 06/27/2017 - 3:45pm

    Maine’s Treasury has returned more than $18.1 million in unclaimed property to Mainers in FY 2017. This is a new record, surpassing the old record of $16.1 million in FY 2016. That’s an increase of 12.5 percent in just one year.

    State Treasurer Terry Hayes credited her staff, legislators, and staff at the Legislature for this resounding success.

    “The combination of effort, across agencies and across the state, has proven very successful,” she said, in a news release. “This is our third consecutive record-breaking year – very good news for people throughout the state who have been reunited with their money.”

    Every year, incorrect addresses, misspelled names and dormant accounts result in financial property being submitted to Treasury by Maine businesses. More than $25 million was submitted in FY’17.

    At present, the Treasurer’s unclaimed property database includes more than $232 million.

    The properties can be claimed by the rightful owners through the Treasurer’s office at any time.

    The fastest, most direct way you can find out if you have unclaimed property is by visiting maine.gov/upsearch. Search for your name, family members, and friends.

    If you have unclaimed property in the database, you can file a claim right from the website. Claims are processed in the order they are received. Treasury’s goal is to get the money back in the hands of the rightful owners as quickly as possible.

    “Breaking through $18 million in returned funds has been a major accomplishment. We have our sights set on beating that total in FY’18,” said Hayes, “You can help us by searching your name today.”