LANSING, MI (WKZO AM/FM) – February 1 marks National Unclaimed Property Day, and state officials are working to help citizens reunite with lost assets.
The Michigan Department of Treasury has millions of dollars in lost or forgotten assets that includes dormant bank accounts, uncashed checks, valuables left in safe deposit boxes and stock certificates.
These properties were all turned over to the state once they were determined to be abandoned as required by law.
The Michigan Department of Treasury is the custodian of these assets and reunites them with their owners — or the owners’ heirs — when they are rightfully claimed.
To find out if you have cash or property, check multiple states at www.UCPday.com or go directly to the Michigan’s Unclaimed Property website, which provides enhanced search options and the ability to upload verifying documentation easily and securely.
Individuals are encouraged to search their name, a maiden name or the name of a business or nonprofit. The search is free.
Claimants may also call 517-636-5320 between 9 a.m. and 2 p.m., Monday through Friday.
“I encourage everyone to check to see if they have forgotten or abandoned property,” State Treasurer Rachael Eubanks said. “Our Unclaimed Property staff are standing by and ready to reunite these assets with their rightful owners or heirs.”
Nearly 33 million people in the United States – 1 in every 10 – has what the industry calls unclaimed property: financial accounts or items of value where the owner has not initiated any activity for several years.
Common examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards.
“We have returned more than $500 million in unclaimed property to rightful owners over the last five years,” the manager of Treasury’s Unclaimed Property Program Terry Stanton said. “Filing a claim is easy, secure and free. We receive new properties every year, so even if you’ve searched in the past, it’s a good idea to make it an annual event. You never know what could be out there until you check.”
For businesses, corporations, nonprofits, public entities and other organizations holding unclaimed or abandoned property, instructions on how to prepare and easily submit your report and remittance online can be found on Michigan’s Unclaimed Property website as well.
To increase awareness of lost or abandoned personal assets, the National Association of Unclaimed Property Administrators declared the first National Unclaimed Property Day on February 1, 2021.
For more information about other services provided by the state Treasury Department, go to www.michigan.gov/treasury
