State Treasurer Urges Local Governments to Claim Unclaimed Property to Help Fill COVID-Fueled Funding Gaps
State Treasurer David McRae today urged local governments to search for unclaimed properties held by the state to help fill COVID-fueled funding gaps. In the last month, the state has returned a quarter-million dollars to local governments in Unclaimed Property, but more than $1 million remains unclaimed. To streamline the process, the State Treasury has posted a special State and Local Government Claims form and encouraged entities to take advantage of remote notarization to ensure a faster return.
“Local governments are really struggling to make ends meet right now,” said McRae. “I want to encourage them to make sure the state isn’t holding any Unclaimed Property that they are entitled to, which could help bridge some of the funding gaps. We recognize this is not the state’s money, and especially during this time of uncertainty, we are focused on getting it out of state accounts and into the hands of its rightful owners.”
Since the beginning of the COVID-19 outbreak, the State Treasury has returned more than $500,000 in Unclaimed Property to Mississippians. To begin your search, please visit treasury.ms.gov.
Click here to access the State and Local Government Claims Form.
What is Unclaimed Property?
It’s sometimes very difficult for banks, credit unions, and even retail stores to find the rightful owner of big chunks of money. People move – families lose touch – and the money just sits there. After five years, financial institutions turn that money over to the state to find the rightful owners, which is what our team does in the Unclaimed Property Division.
Where do I search for Unclaimed Property?
Visit treasury.ms.gov. Enter your last name. And begin your search!