unclaimed property

Harrisburg, Pa. – The Pennsylvania Treasury is holding $3.8 billion in unclaimed property. Such property includes uncashed checks, forgotten bank accounts, stocks and bonds, and safe deposit box contents. Items often become unclaimed and are returned to the Treasury due to simple mistakes such as misspellings or incorrect addresses. Unclaimed property may also include unissued military medals. Items such as collectible coins, jewelry, military medals, stamps, antiques, savings bonds or other physical objects are held for three years before being liquidated. If a person's items are liquidated, they may still collect the money that the Treasury holds from the sale.

According to the Treasury, one in ten Pennsylvanians is owed unclaimed property, and the average claim is worth around $2,000. To help Pennsylvanians track down their unclaimed property, the Treasury has a free online database search. Simply enter a name, city, and zip code to search the database. There are also professional "finders" who specialize in helping clients assemble claims for items in the Treasury's possession; these people charge fees for their services. If using the services of a finder, make sure that they are certified by the Pennsylvania Treasury.

The online Treasury database is searchable at any time; however, those who search now may want to perform a repeat search after April. Pennsylvania businesses and other entities file new unclaimed property reports by April 15 each year.

This story was compiled by an NCPA staff reporter from submitted news. To see a list of our editorial staff please visit our staff directory.