Madison, WI – In a timely boost for Wisconsinites, the Wisconsin Department of Revenue (DOR) has successfully matched and returned approximately $9.9 million in unclaimed property to its rightful owners. This significant return comes at a crucial time, providing much-needed financial relief to individuals and families across the state.
DOR distributed 470 “notice of unclaimed property” letters, totaling over $4.4 million, to individuals whose names have been matched with assets exceeding $2,000.
Additionally, DOR mailed $3.5 million in checks to 30,342 claimants matched with property worth less than $2,000.
Another 216 recipients received both a “notice of unclaimed property” letter and an automatic check, an amount that totals $1.8 million.
“It’s our duty to reunite rightful owners with their unclaimed property,” said DOR Secretary Designee of Revenue David Casey. “At a time when many are struggling, the Department of Revenue is proud to play a role in providing financial relief. By returning almost $10 million in unclaimed property this March, we’re hoping to ease some of the burden facing our citizens.”
As the state’s regulatory body for unclaimed property, DOR conducts this annual process to locate, verify and return assets to their lawful owners.
Many Wisconsinites Have Unclaimed Property
The $9.9 million in matched claims represents just a small portion of unclaimed property in Wisconsin. Unclaimed property includes funds from savings or checking accounts, uncashed dividends, insurance policies and other accounts the owner may be unaware of or has forgotten. Banks, credit unions, insurance companies and other businesses must report unclaimed property to DOR each year by November 1. DOR holds onto the property for safekeeping until the owner claims it. All Wisconsin residents are urged to search for unclaimed property on the DOR website.
