Are you wondering whether you have any unclaimed money Minnesota owes you that you don’t know about yet? Here is how to locate it. St Paul, Minnesota – You might be amazed to learn of all the Minnesotans who may have money stashed away they didn’t realize they possessed.
Minnesota Department of Commerce returns record $62.6 million to residents during fiscal year 2023, surpassing their previous year’s record return of $53.5 million.
Every year, the agency collects millions of dollars of unclaimed property from businesses who have become disenfranchised from their owners and abandoned it in unclaimed property accounts.
In 2023, the Commerce Department processed claims for nearly 247,000 shares of stock and nearly 60,000 other forms of financial property.
Commerce Department released a news release detailing several common forms of unclaimed property:
Uncashed checks, dormant bank accounts and insurance claim payments or benefits that have gone unclaimed have all contributed to bankruptcies or are sitting uncollected for years now.
Safe deposit boxes offer valuable stocks or bonds storage.
Commerce Commissioner Grace Arnold stated in the release, “Minnesotans may owe financial institutions and other companies unclaimed property that we collect and return. With an increase in claims submission, this shows more Minnesotans appreciate our efforts to collect Minnesota Unclaimed Money and retrieve their rightful assets.”
If you suspect money may have gone missing from your accounts, use the Commerce Department website to search your name.