PA Treasurer McCord: Notification Letters On The Way to 60,000 Potential Property Owners
Letters are not junk mail, Treasurer warns; residents could have unclaimed property they can claim for free via patreasury.gov
Harrisburg – Pennsylvanians who open their mailboxes and find a letter from the State Treasury in coming weeks may have unclaimed property waiting for them, Treasurer Rob McCord announced today as his department issued more than 60,000 notification letters to the owners of the newest unclaimed property in its database.
“Treasury’s Return Team has used many methods to locate the owners of more than $456 million in unclaimed property since I took office in January 2009,” Treasurer McCord said. “We run newspaper ads, partner with media outlets, reach out via the web, and in this case, the U.S. Mail, to let people, businesses and organizations know they are owed property.
“I want to remind Pennsylvanians who receive a letter from the Pennsylvania Treasury that it is not junk mail – it is a legitimate communication from our Return Team wanting to help you claim what’s yours free of charge,” the Treasurer continued.
Each year, Treasury receives millions of dollars in unclaimed property – money from items such as abandoned bank accounts, forgotten stocks, uncashed checks, and contents of safe deposit boxes. State law requires Treasury to send a letter to the last known address reported with the new property as well as advertise it in that county’s newspaper, the Treasurer noted. Once these statutorily-required steps are completed, McCord’s Return Team continues its search for owners using other media and outreach methods, along with old-fashioned detective work.
More than $234 million in new unclaimed property was recently reported to Treasury. The Treasurer pointed out that this represents only a small portion of the $2.2 billion in unclaimed property Treasury currently holds.
“We estimate that 1 in 10 Pennsylvanians has unclaimed property. Even if you don’t receive a letter, I hope you will visit www.patreasury.gov and search for your name and the names of your family and friends. You never know what you might find,” the Treasurer said.
Individuals who receive a notice from Treasury may claim their property by calling 1-800-222-2046, Monday through Friday, 7:30 a.m. to 4:30 p.m. Treasury’s Return Team will be happy to assist them in recovering their property free of charge. Claims can also be initiated online at www.patreasury.gov.
Since January 2009, the McCord Treasury has collected more than $1 billion in property, returned more than $456 million to rightful owners, and generated about $631 million for the state’s General Fund through the Unclaimed Property Program.
To learn more about Pennsylvania’s Unclaimed Property Program or to search for property, visit www.patreasury.gov or call 1-800-222-2046.
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Media contact: Elizabeth Foose, 717-787-2991 or news@patreasury.gov
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