Michiganders Reminded To Check For Unclaimed Property

Michigan Business NewsLansing, MI - Michiganders are encouraged to conduct a simple search online to see if they have any lost or abandoned property at any time after having observed National Unclaimed Property Day last Thursday, February 1, 2024, according to the Michigan Department of Treasury (Treasury).

“I encourage Michiganders to take a few moments out of their busy day to see if they have lost or unclaimed property,” said Terry Stanton, who oversees Michigan’s Unclaimed Property Program. “Even if you have searched for unclaimed property recently, please check our website again. Our unclaimed property database is updated multiple times throughout the year. My team is ready to help begin the process to reunite you with your unclaimed property or assets.”

To find out if you have cash or property, 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 who live outside of the state of Michigan can check multiple states’ unclaimed property listings at www.UCPday.com.

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.

Treasury is the custodian of these assets and reunites them with their owners -- or the owners' heirs -- when they are rightfully claimed.

Individuals are encouraged to search their name, a maiden name, or the name of a business or nonprofit. There is never a charge to search for and claim property.

Claimants may also call 517-636-5320 between 9 a.m. and 2 p.m., Monday through Friday.

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.

According to the National Association of Unclaimed Property Administrators (NAUPA), more than $2.87 billion dollars in unclaimed property was returned to rightful owners around the country in 2023. Nearly 33 million people in the United States – 1 in every 7 – has unclaimed property: financial accounts or items of value in which the owner has not initiated any activity for a number of years.

In Michigan, $138.5 million was returned to rightful owners and heirs last year and more than $600 million over the last five years.

In 2021, to increase awareness of unclaimed property, NAUPA launched the first National Unclaimed Property Day on Feb. 1. Then and now, unclaimed property administrators encourage everyone to search for unclaimed property. To learn more about National Unclaimed Property Day, go to www.UCPday.com.

In support of National Unclaimed Property Day, Gov. Gretchen Whitmer has proclaimed Thursday, Feb. 1, as Michigan’s Unclaimed Property Day.

For more information about other services provided by the state Treasury Department, go to www.michigan.gov/treasury.

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