Texas Comptroller announces record $281 Million in unclaimed property returns
The Texas Comptroller’s office returned a record $281 million in unclaimed property to its rightful owners during the past fiscal year, Comptroller Glenn Hegar announced today.
The total breaks the previous record of $270 million returned in fiscal 2016 and marks the fifth consecutive record-breaking year.
“Each year we make a commitment to reunite unclaimed property with its rightful owners, and this record underlines that commitment,” Hegar said. “I encourage all Texans to visit ClaimItTexas.org to see if the state is holding some of their unclaimed property.”
The Comptroller’s office has returned more than $2 billion to its rightful owners since Texas’ unclaimed property program began in 1962. The state is currently holding more than $4 billion in cash and other valuables.
The $281 million in unclaimed property returned in fiscal 2017 includes forgotten utility deposits or other refunds, insurance proceeds, payroll checks, cashier’s checks, dividends, mineral royalties, dormant bank accounts and abandoned safe-deposit box contents. Businesses generally turn property over to the unclaimed property program after it has been considered dormant for one to five years.
There is no statute of limitations for unclaimed property the state holds, which means there’s no time limit for owners to file a claim — they can do so at any time.
For more information about the unclaimed property program, or to search for unclaimed property and begin the claims process, visit the Comptroller’s unclaimed property website, ClaimItTexas.org, or call 800-321-CASH (2274).