Over $60 million in missing money returned to Minnesotans during 2023 fiscal year
ST. PAUL, Minn. -- Tens of millions of previously missing dollars were returned to Minnesotans during the latest fiscal year, setting a new record for the state.
The Minnesota Department of Commerce says it distributed $62.6 million in unclaimed property during the 2023 fiscal year, which runs from July 1 to June 30 each year.
Last year, the state distributed the previous record of $53.5 million.
The department says it receives millions of dollars in unclaimed property every year from businesses and organizations that have lost contact with the owners. It then safeguards the money or property until it is claimed by the rightful owners or heirs.
Common types of unclaimed property include dormant bank accounts, uncashed checks, unclaimed wages, insurance claim payments or benefits, stocks or bonds and items from safe deposit boxes.
The state has a website that allows people to check whether they have property waiting to be claimed.