Treasury Encourages New Jerseyans to Search for Missing Assets on Unclaimed Property Day

In recognition of Unclaimed Property Day on February 1st, the Department of the Treasury is encouraging the public to find out if they are one of nearly 33 million people in the United States with unclaimed assets like forgotten bank accounts, unpaid life insurance benefits, utility deposits, and unused rebate cards.

When the owner of a financial account or item of value does not initiate any activity for a number of years, and the company cannot locate the owner, the money or properties are submitted to the State.

Treasury’s Unclaimed Property Administration is currently holding $6.3 billion in forgotten assets. 

“It’s thrilling to hear stories from people who’d discovered they had missing assets, big or small, and its return making a real difference in their lives,” UPA Administrator Steve Harris said in a statement. “One quick search on our website can reunite people with property they’d entirely forgotten, or didn’t know they had.”

UPA makes it simple and convenient to search for unclaimed property for free. Anyone can search for their name on https://www.unclaimedproperty.nj.gov/ to determine if the State is holding their property. Individuals are encouraged to search their name, a maiden name, or the name of a business or nonprofit.

While certain third-party companies will charge a fee to connect individuals with their assets, there is never a charge for searching UPA’s database or for claiming property on the State’s secure website. Once approved, the asset is returned to its rightful owner with interest.

In Fiscal Year 2023, UPA returned a record $202.95 million in assets to rightful owners, the result of 73,686 claims filed with the agency.

This effort far surpassed UPA’s previous record set in Fiscal Year 2022, when $164.13 million in assets were returned via 50,867 claims filed. More than $2.4 billion has been returned since the inception of the program.

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