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Is The State Holding Your Unclaimed Property?

At any given time, the State of Minnesota is holding millions of dollars in “unclaimed property” that has been abandoned or not claimed by citizens. Examples of unclaimed property are dormant bank accounts, unclaimed wages, safe deposit boxes, unclaimed utility security deposits, unclaimed insurance payments, and the like. Most unclaimed property results from a change in address, a death, or just plain forgetfulness. State officials estimate that there is a 1 in 20 chance that the State is holding unclaimed property for you. Here is how you can check to see if there is unclaimed property in your name.

How to Find Unclaimed Property in Minnesota

Under State law, the Minnesota Department of Commerce is responsible to gather and distribute unclaimed property to its rightful owners. The law requires that banks, insurance companies, and others forward unclaimed property to the Department of Commerce’s unclaimed property fund if there has been no activity or if it remains unclaimed for a period of time. For example, if a deposit held by a utility has not been claimed by the owner for one year after services have ended, the utility is required to send the deposit to the State. Banks and other financial organizations are also required to send money in accounts that have been inactive for three years to the State.

You can find out if you are the owner or the heir to unclaimed property held by the State by contacting the Department of Commerce as follows:

Minnesota Department of Commerce
Unclaimed Property Division
85 7th Place East, Suite 280
St. Paul, MN 55101
(651) 539-1545 or (800) 925-5668
www.mn.gov/commerce

You may obtain information on how to file a claim, download a claim form, or search the Department’s unclaimed property database online at www.mn.gov/commerceexternal link icon or www.missingmoney.com.external link icon

How to Find Unclaimed Property in Other States

The National Association of Unclaimed Property Administrators (NAUPA) maintains a database of each of the 50 states’ unclaimed property websites. The NAUPA site may be found at www.unclaimed.org.external link icon Click on “Select a State,” choose any state in which you have lived or may have owned property, and search your name to find if you have unclaimed property in that state. The NAUPA website also has links to news about and other sources for finding unclaimed property.

Hiring “Finders” to Find Your Unclaimed Property is not Necessary

There is no charge or cost to find out if a state is holding property that belongs to you. This is something you can do by yourself for free just by contacting the appropriate government agencies. Yet, private companies, known as “finders” or “locators” sometimes contact citizens offering to search for any unclaimed property in their name for a fee, typically a percentage of the value of the property. There is no need to hire a finder to find out if there is unclaimed property in your name.

Unclaimed Property Held by the Federal Government

Links for sources of unclaimed property held by the federal government include:

The Internal Revenue Service
(tax refunds)
(800) 829-1040
www.irs.gov/refundsexternal link icon

United States Department of the Treasury
(savings bonds)
(844) 284-2676
www.treasurydirect.gov/indiv/tools/tools_treasuryhunt.htmexternal link icon

United States Department of the Treasury
(other Treasury securities)
(844) 284-2676

Federal Deposit Insurance Corporation
(unclaimed insured deposits 1989-93 and dividends)
(877) 275-3342
https://closedbanks.fdic.gov/funds/external link icon

Department of Housing and Urban Development
(FHA-insured mortgage refunds)
(800) 697-6967
entp.hud.gov/dsrs/refundsexternal link icon

Pension Benefit Guaranty Corporation
(800) 326-5678
TTY: (800) 877-8339
search.pbgc.gov/mp/mp.aspxexternal link icon

National Credit Union Administration
(512) 231-7900
www.ncua.gov/services/Pages/asset-management/unclaimed-deposits.aspxexternal link icon

Veterans Administration Benefits
(life insurance)
(800) 669-8477
www.insurance.va.gov/liability/ufsearch.htmexternal link icon

Other Sources of Information on Unclaimed Property

National Association of Unclaimed Property Administrators
www.unclaimed.orgexternal link icon

Missingmoney.com
www.missingmoney.comexternal link icon

USA.gov
(844) 872-4681
www.usa.gov/unclaimed-moneyexternal link icon

For more information, contact the Minnesota Department of Commerce or Minnesota Attorney General’s Office as follows:

Minnesota Department of Commerce
Unclaimed Property Division
85 7th Place East, Suite 280
St. Paul, MN 55101
(651) 539-1545 or (800) 925-5668
www.mn.gov/commerce external link icon

Office of Minnesota Attorney General Lori Swanson
445 Minnesota Street, Suite 1400
St. Paul, MN 55101
(651) 296-3353 or (800) 657-3787
TTY: (651) 297-7206 or TTY: (800) 366-4812

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