Mass Unclaimed Property Div Looks to Return Funds During Holidays

Twice a year, the Massachusetts Unclaimed Property Division (UCP) announces the latest group of names that have been added to the state’s list of unclaimed property owners. During the holiday season, the team wants to remind the many non-profit organizations in the state that they too may have unclaimed property. So just like Santa, they should be checking the lists twice.

Non-profits have millions in lost or misplaced property. Like individuals or businesses, filing claims is fast, easy, and free. A quick search at Find Mass Money can tell you if there is something waiting for your organization. {We looked and found several area not-for profits as well as hundreds of area businesses that are owed money!}

“All we want this holiday season is to return what is rightfully yours,” said State Treasurer Deborah B. Goldberg. “You better watch out, you better not cry. You better not pout we’re telling you why. Just give us a call today!”

Unclaimed property includes forgotten savings and checking accounts, un-cashed checks, insurance policy proceeds, stocks, dividends, and the contents of unattended safe deposit boxes. Most accounts are considered abandoned and are turned over to the state after three years of inactivity.

Non-profits should also be aware that unclaimed property might result from an individual leaving an organization money or property in a will.

The Treasury releases an updated list of unclaimed property assets every six months as the new accounts are turned over to the Commonwealth. There is no time limit for a person, business, or non-profit to claim this property and, in many cases, claimants will receive interest.

Last year, Treasury processed over 122,000 claims and returned over $163 million in property to its rightful owners. Treasurer Goldberg urges everyone to check the comprehensive list for all amounts at www.findmassmoney.com or call our live call center at 888-344-MASS (6277).