The Wisconsin Department of Revenue (DOR) has matched more than $6.6 million in unclaimed property to nearly 23,000 claimants as part of its annual unclaimed property data match process.
About $2.5 million of the total property will be automatically mailed to more than 22,600 individuals matched with property worth $2,000 or less. The remaining 330 have property worth more than $2,000 and will soon receive “notice of unclaimed property” letters with instructions on how to claim property DOR is holding in their names.
“It is a wonderful feeling every time we are able to match and mail unclaimed property to a claimant,” said DOR Secretary Peter Barca. “Making these connections on a grand scale through the data match process is that much more satisfying.”
The data match process managed by DOR—the state’s regulatory holder of unclaimed property—locates, verifies and delivers property to its lawful owners.
Over $600 million still unclaimed
Beyond the $6.6 million in matched claims is more than $600 million still unclaimed by many thousands of potential claimants. An unclaimed property search on the DOR website takes seconds and is available to everyone.
Unclaimed property includes funds from savings or checking accounts, uncashed dividends, insurance policies, or other accounts the owner may be unaware of or forgot. Banks, credit unions, insurance companies and other businesses must report unclaimed property to DOR each year by November 1.