(Part 2 of 2)

According to the Penn. State Treasurer's Office, "Each year, Treasury receives millions of dollars in unclaimed property from abandoned bank accounts, forgotten stocks, checks that have not been cashed, certificates of deposit, life insurance policies, safe deposit boxes, and other sources. Treasury maintains custody of this unclaimed property, holding assets indefinitely, until it is returned to its rightful owners." Lost assets can also come from money orders, safe-deposit box contents, expired gift certificates, uncollected or unpaid salaries and wages, and traveler's checks. As a matter of fact, more than $157 in unpaid salaries and wages were reported to have been owed by the H.J. Heinz ketchup company recently and the company allegedly failed to report this to the State. Under Penn. Unclaimed Money Law, unpaid payroll checks held by businesses have to be given to the PA Treasurer's Office every 2 years and every five years for unclaimed assets like uncashed company checks and stock shares abandoned by shareholders. State Treasurer Robert Casey recently stated, "By law, all businesses, financial institutions and legal entities must report and return all unclaimed property to the Commonwealth."

The Penn. Unclaimed Money Div. and the State Treasurer's Office makes an effort to notify owners of unclaimed money in Penn. advertising campaigns, through letters, and state-run unclaimed money databases. "Annual advertising and letter campaigns are just some of the methods Treasury employs to seek the owners of over $1 billion in unclaimed property. Treasury sends representatives to statewide public events year-round, including malls, consumer expos and fairs. Treasury also works with members of the General Assembly in helping determine if their constituents have unclaimed property", According to a statement from the Treasurer's Office of Penn..

Considering the tremendous size of the Penn. unclaimed money pile though, it's clear that the state's efforts are not adequate for the sheer numbers (literally tens of thousands) of residents owed unclaimed monies each year. If you believe you or anyone you know might have unclaimed money in Penn. or other states, now would be the best time to get some lost money back in your hands. Get started on your unclaimed money search ASAP!

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