State Treasurer asking Mississippians to check for unclaimed “property”

State Treasurer asking Mississippians to check for unclaimed “property”
State Treasurer David McRae is asking Mississippians to check their accounts and other investments to avoid being deemed "unclaimed." (Source: Colin Watts)

JACKSON, Miss. (WDAM) - The Mississippi Treasury already has returned this year more than $16 million in unclaimed “property” to state residents, businesses and non-profit organizations.

Treasurer David McRae wants that figure to grow even larger before the calendar flips to 2021.

“Losing track of an account is easier to do than you might think, which is one of the reasons why we’ve been able to find and return more than $16 million to Mississippians this year alone,” McRae said. “My team works quickly to get this money back into Mississippians’ wallets, but citizens can also take steps to ensure it doesn’t get lost in the first place.

“That’s why I’m encouraging you to contact your bank or financial institution before year’s end to be sure every account in your name is properly claimed.”

Accounts can include long-term investments like certificates of deposit, savings accounts and stock, financial property that may not be checked on a regular basis.

If a bank or other financial institution loses track of an account’s owner, the account can be declared inactive. After five years, that unclaimed property is turned over to the state to find the rightful owner.

“If your property is declared unclaimed and has been returned to the state, it’s easy to search for it,” McRae said. “Please visit Treasury.MS.gov today, enter your name in the search box, and click go. You never know what money you may have left behind at some point.

“If there’s cash listed beside your name, let us know, and we’ll get the claims process started for you.”

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