State Treasurer urging Alabamians to claim lost or forgotten property and money

Alabama News

MADISON COUNTY, Ala. — The State Treasurer’s office wants Alabamians to check its list for lost or forgotten property and money.

Plenty of Alabamians may not realize there’s money waiting to be claimed, like Kassidy Reeder. When she discovered she had unclaimed money at the treasurer’s office, she was asking herself if it was real.

“I didn’t think it was real because I never heard of it,” said Reeder, and she’s not alone.

The Treasury Department says nearly 33 million people in the United States, 1 in every 10, have unclaimed property. Alabama State Treasurer John McMillan says his office returned over $36 million in 2020.

“Every 2 or 3 months, people should take a quick look at that website and see if their name or their company name might have some assets there,” said McMillan.

When Kassidy checked, she had five claims listed, all ranging from $25-$100. She said she claimed them right away, filled out a form, and is now waiting for the cash to roll in.

“But I don’t know how it doesn’t get to somebody,” said Kassidy. “Like, how do they not know it’s out there?”

McMillan answered the question: “Well it depends where the money comes from, but a lot of it comes from uncollected insurance policies or neglected, abandoned bank accounts and those kind of things. All kind of cash! So the businesses that have that are obligated to turn it into the State Treasurer.”

The office says these assets may be in the form of cash, stock, bonds, insurance benefits or even valuables from safe deposit boxes.

Currently, the State Treasury Office has over one billion dollars of unclaimed property and some of it could be yours! McMillan says this is the second time in recent years the Treasury Department has reached a billion dollars in unclaimed property.

You may search Alabama’s unclaimed property database here. If you find your name on the list, you can submit a claim along with your documentation proving ownership.

For more information or assistance with a claim call (888) 844-8400.  

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories