Millions of dollars are waiting to be claimed in Oregon. Are you aware that the state of Oregon is currently holding over $773 million in unclaimed funds? This money belongs to Oregonians, and it could be yours! These unclaimed assets come from various sources, including forgotten bank accounts, uncashed checks, security deposits, and much more. The good news is that Oregon makes it easy to search for and reclaim your lost money through their Unclaimed Property Program, now managed by the Oregon State Treasury.
What is Oregon Unclaimed Money?
Oregon Unclaimed Money, also known as unclaimed property, refers to financial assets that have been turned over to the state because the rightful owner could not be located. Businesses and organizations are legally required to report and remit these unclaimed funds to the state after a period of inactivity, typically ranging from one to five years.
The Oregon Unclaimed Property Program, operated by the Oregon State Treasury, acts as a custodian for these assets, safeguarding them until the owners come forward to claim them. These assets can include:
- Uncashed checks: Payroll checks, vendor payments, insurance payouts, and refunds.
- Bank accounts: Savings and checking accounts that have been dormant.
- Security deposits: Rental deposits or utility deposits that were not returned.
- Stocks and bonds: Unclaimed dividends or matured securities.
- Life insurance payouts: Proceeds from policies where beneficiaries could not be found.
- Contents of safe deposit boxes: Items removed from safe deposit boxes with no activity.
Oregon State Treasury Takes Over Unclaimed Property Program
As of July 1, 2021, the Oregon State Treasury assumed responsibility for the Unclaimed Property Program and the Estates Administration Program, previously managed by the Department of State Lands. This transition, facilitated by Senate Bill 454, was designed to streamline operations without disrupting services for Oregonians.
Treasurer Tobias Read emphasized the importance of these programs: “These programs are vital to reuniting Oregonians with their lost property. I appreciate the inter-agency team that worked hard to complete the transfer without any interruptions or hiccups for people claiming or reporting funds.”
The good news is that for individuals searching for oregon unclaimed money, the process remains largely unchanged. The main online portal for searching and claiming funds remains unclaimed.oregon.gov.
How to Search for Your Oregon Unclaimed Money
Finding out if you have oregon unclaimed money waiting for you is simple and free. Follow these steps to search the Oregon State Treasury’s unclaimed property database:
- Visit the official website: Go to unclaimed.oregon.gov. This is your primary resource for all things related to oregon unclaimed money.
- Search the database: Use the search tool on the website to enter your name, former addresses, or business name. Be sure to try variations of your name, as records may be listed under slightly different spellings.
- Review the results: If your search yields results, carefully review the details to see if any listings match your information.
- File a claim: If you find property that you believe belongs to you, follow the instructions on the website to initiate a claim. You will typically need to provide documentation to verify your identity and ownership of the property.
Estates Administration Program
In addition to unclaimed property, the Oregon State Treasury also manages the Estates Administration Program. This program safeguards estates when Oregonians pass away without a will and without known heirs. The Estates team manages various tasks, including funeral arrangements, asset identification, debt settlement, and heir searches. Any remaining funds are also deposited into the Common School Fund, benefiting Oregon’s K-12 education, until claimed by rightful heirs.
Businesses Reporting Unclaimed Property
For businesses, nonprofits, and government agencies in Oregon, the reporting process for unclaimed property is now handled by the Oregon State Treasury. Starting with the 2021 reporting year, these entities will work directly with the Treasury to meet annual reporting deadlines for unclaimed funds. Detailed information and reporting guidelines can be found on the unclaimed.oregon.gov website.
Don’t Wait – Claim Your Oregon Unclaimed Money Today!
There is a significant amount of oregon unclaimed money just waiting to be returned to its rightful owners. Take a few minutes to search the unclaimed.oregon.gov database. You might be surprised to discover funds that belong to you or your family. It’s free, it’s easy, and it could put some unexpected cash back in your pocket!
Search for your unclaimed money now: unclaimed.oregon.gov
