Oregon People Will Get $10 Million In Unclaimed Funds; Find Out If You Owe Money

Unclaimed Funds: People in Oregon who have unclaimed salaries, security deposits, tax refunds, or other types of unclaimed property can expect to receive cheques in the amount of up to ten thousand dollars from the state Treasury.

Oregon People Will Get $10 Million In Unclaimed Funds

Last Monday, Oregon’s Treasurer, Tobias Read, made the announcement that the department would proactively return nearly $10 million in unclaimed monies to both current and former residents of the state. According to Eric Engelson, who serves as the public information director for the Treasury, it constitutes a relatively insignificant portion of the almost $880 million in unclaimed property that is held by the state.

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According to a statement released by Read, “We are excited to return millions of dollars in unclaimed funds to their rightful owners.” [Citation needed] The Oregon State Treasury is “dedicated to promoting awareness across Oregon and giving easy, accessible options for individuals to discover and claim money entitled to them.” This commitment comes in addition to the collection and protection of unclaimed property belonging to Oregon residents.

Oregon People Will Get $10 Million In Unclaimed Funds
Oregon People Will Get $10 Million In Unclaimed Funds

Checking the website unclaimed.oregon.gov will let people in Oregon and beyond find out if they have any unclaimed property. This property may consist of funds that were left in dormant bank accounts or investment accounts, cheques that were written but never redeemed, unclaimed tax refunds, or overpayments on utility bills.

In the majority of instances, residents of Oregon are required to submit claims to the Treasury in order to get their money. However, the government will be immediately sending payments to some persons in the spring of this year if they have unclaimed property that was reported in 2018, 2019, or 2020. The property is qualified for return if it is owned by a single person, has a value between $50 and $10,000, is not an investment in stocks, bonds, or mutual funds, and was reported with the owner’s Social Security number.

The recipients will be notified by letters from the Treasury Department one month before cheques are handed out, and the first checks, which are for a property that was reported in 2018, will be mailed in February. Following that, checks for a property that was reported in 2019 will be mailed in the month of April, and checks for a property that was reported in 2020 will be mailed in the month of June.

According to Engelson, a few other states, notably Louisiana and Illinois, have successfully completed programs that are very similar.

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