Oregon State Treasury will be proactively returning approximately $3.5 million in unclaimed property in October to individuals as part of the agency’s annual initiative ‘Checks Without Claims.’
Treasurer Steiner stated, “At Treasury, we are pleased to reunite thousands of Oregonians with their forgotten cash—especially since they don’t have to lift a finger to get it. Our mission is to do more than just hold these funds, it’s to put them back in people’s pockets so they can thrive financially.”
Through ‘Checks Without Claims’, Treasury will proactively disburse payments to verified owners of unclaimed property reported to the state’s Unclaimed Property Program between 2019-2023. Payments, via check, will be mailed to individuals this month and along with an additional confirmation letter from the Treasurer.
Earlier this year, Treasury’s Unclaimed Property Program conducted ‘Checks Without Claims’ and reconnected more than 20,000 individuals with their unclaimed funds totaling nearly $11 million.
With over $1 billion in unclaimed funds currently held by Treasury, ‘Checks Without Claims’ is one of many efforts done to reconnect more Oregonians with their unclaimed money and property. Payments distributed through this initiative represent unclaimed property reported by various businesses and organizations that were unable to return funds to the rightful owner within the appropriate time period. Common examples of unclaimed property include uncashed payroll checks, forgotten bank accounts, tax refunds, credit balances, investment accounts, refunds, and more.
Nearly one in seven people in the United States has unclaimed property. Typically, individuals need to file a claim with Oregon’s Unclaimed Property Program and complete the verification process to receive the funds they are owed. Treasury conducts ‘Checks Without Claims’ to proactively verify some owners of unclaimed assets with up-to-date information and facilitate payments directly to them. Checks distributed will vary in amount between $50 and $10,000.
Searching for unclaimed funds is free and easy. Interested individuals are encouraged to visit Treasury’s unclaimed property website at unclaimed.oregon.gov. Questions about unclaimed funds or “Checks without Claims” can be directed to Oregon’s Unclaimed Property Program via email claims@ost.state.or.us or phone at 503-566-9445.