MADISON, WI (WTAQ-WLUK) — If you see your name printed in your local newspaper, you could have some money coming your way.
The Wisconsin Department of Revenue is in the midst of its annual unclaimed property awareness campaign; trying to get Wisconsinites to claim their money and other assets.
In general, unclaimed property is any financial asset that hasn’t had owner activity for a period of one year or more and the asset holder is unable to contact the owner. Unclaimed property includes funds from savings or checking accounts, uncashed dividends, insurance policies, or other accounts the owner may be unaware of or forgot.
Earlier this year, the state asked Wisconsinites to do an online search of their name to see if they had any unclaimed money or property.
Now the state is using newspapers to spread the word of the more than $600 million the agency currently holds.
However people decide to search for unclaimed property, it is important that they do search. The DOR says one in seven Wisconsinites have unclaimed property and the average unclaimed property claim is worth $1,225. You can also search a friend or family member’s name to alert them of their unclaimed property.
“So many people don’t know about Wisconsin’s unclaimed property program or that they may have money waiting for them here,” said DOR Secretary Peter Barca. “It could be an uncashed paycheck from past employment or an insurance policy payment that didn’t reach them after they moved to a new home. All they need to do is search and make their claim, and we’ll send them their money.”
Banks, credit unions, insurance companies and other businesses must report unclaimed property to DOR each year by November 1.
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