Unclaimed Property Program Helping You Find Your Money on WIS
March 7, 2018
Treasurer Curtis Loftis and WIS want to help you find your lost money. The State Treasurer’s Office currently has over $550 million in unclaimed property and more than $107 million of this belongs to individuals in the Midlands.
WIS is hosting a “Claim Your Cash” phone bank on Wednesday March 7th. Staff from the State Treasurer’s Office will be on hand to take your calls. If you miss the live phone bank, you can also search for unclaimed property online by clicking here.
Below are some common questions and answers regarding the Unclaimed Property Program at the State Treasurer's Office:
How do I find out if I have unclaimed property?
Go to the official website: www.treasurer.sc.gov and click to search for unclaimed property.
What is unclaimed property?
Unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds, and other accounts that typically have been abandoned for one to five years. Funds become unclaimed because the company loses track of the consumer, due to an incorrect address or other missing information.
How does unclaimed property end up at the State Treasurer’s Office?
If a company cannot locate the owner of funds after a certain period of time (usually five years), the company cannot keep the money. Acting in the best interest of consumers, every state has a law that requires unclaimed funds to be sent to the State’s Unclaimed Property Program which holds the funds until the rightful owner can be found.
How long does the State hold money?
There is no time limit. The rightful owner always has the right to claim the funds.
What if the original owner is deceased?
The Personal Representative for the estate can submit a claim for the property by providing a copy of the death certificate, a currently dated Certificate of Appointment from the Probate Court, as well as proof of ownership of the property.
Is there any charge or fee for this program?
No. There is no fee for this service. If you are contacted by an individual or firm offering to return property to you for a fee, contact the South Carolina Unclaimed Property Program BEFORE YOU SIGN AN AGREEMENT.
How much money is the State holding?
Over $550 million dollars.
How much money was returned to its rightful owners last year by the Treasurer's Office?
$33 million was returned.
Follow the Treasurer’s Office on Facebook for updates