– Rep. Sandra Major (R-Susquehanna/Wayne/Wyoming) is encouraging area residents to check the Pennsylvania Treasury Department’s Bureau of Unclaimed Property for any financial asset that has been left inactive for a period of about five years and is waiting to be claimed.
“It only takes a couple of minutes to see if there may be property that is rightfully yours being held by the Treasury Department,” said Major. “The department wants these accounts to be collected if possible, so please check it out – it just may be your lucky day.”
According to the Pennsylvania Treasury Department, millions of dollars in unclaimed property comes into the bureau each year. The most common types of unclaimed property are dormant bank accounts, stocks and dividends, uncashed payroll checks, uncollected utility deposits, unredeemed gift certificates and items in safe deposit boxes.
In an effort to return the property to those who rightfully own it, an online database was created in 2000 to make information more easily accessible. The Treasury is only required to advertise the names of people, businesses or organizations owed property valued in excess of $250.
Treasury Department officials are also cautioning individuals to be wary of services or “finders” who charge fees to help locate unclaimed property. Finders often charge the maximum amount allowed by law, up to 15 percent of the property’s value, for making use of the same online databases that individuals can use free of charge.
For additional information on unclaimed property, visit Major’s website at www.RepMajor.com or call the Bureau of Unclaimed Property toll-free at 1-800-222-2046.