Ohio officials: residents have $4 billion in unclaimed funds

COLUMBUS, Ohio (WDTN) — Billions of dollars in unclaimed funds are available to Ohioans, but are you one of them?

by Ohio Department of Commerce Unclaimed Funds Divisionapproximately $4 billion in unclaimed funds have been set aside by authorities and are awaiting claim.

These funds are reported by the bank or company as lost or forgotten after the account has been inactive for three to five years.

“No matter how good you are with your money or how fiscally responsible you are, you could be holding unclaimed funds and not even knowing it,” says the Unclaimed Funds Department. said Susie Wagner, outreach manager.

These unclaimed funds can come from a variety of sources, including:

• Unused checking and savings accounts.
• Balance refunded.
• Cashed checks, bonds, and stocks that are not cashed.
• Forgotten utility deposits and top paychecks.

“Once funds are released from a company or bank that had a dormant account, we protect those funds,” Wagner said. “We'll hold it until the rightful owner claims it, and it's forever.”

In 2023, Ohioans could put more than $139 million back in their pockets. The average payment requested was $3,021 per recipient, Wagner said.

If you are eligible, there are three steps to claim these funds.

• Search your name to see if you have money to claim. here.
• Please fill in the required information form.
• submit your argument Contact our Ohio agent online or by mail.

Filing a claim is completely free, there is no expiration date for unclaimed funds, and these funds are reported annually, so Ohio residents can claim their money even if they have claimed it in the past. We encourage you to check your eligibility.

The agency also recommends looking for unclaimed funds for yourself as well as family and friends to let them know money is waiting for them. You will also need to find a deceased family member to help you obtain these funds.

“We want to get that money back to claimants and our teams are working even harder and we want to help ensure everyone gets that money back into their hands. Because it's just sitting there, and we're protecting it, and we want to restore the rights to the rightful owner. Wagner said.

Click here for more information on how to start the process. here.

https://www.wdtn.com/news/local-news/ohio-agency-says-residents-can-earn-unclaimed-funds/ Ohio officials: residents have $4 billion in unclaimed funds