Unclaimed property returns topped $16 million in Mississipp

Published 7:07 am Sunday, November 22, 2020

Unclaimed property returns topped $16 million for the year in Mississippi,  State Treasurer David McRae said.

McRae urged Mississippi citizens, businesses and non-profit organizations to check with their bank or financial institution to ensure all accounts (including long-term investments like CDs, savings accounts, and stocks that they may not check regularly) are properly claimed. If a bank or other financial institution loses track of an account’s owner, the account can be declared inactive. After five years, that unclaimed property is turned over to the state to find the rightful owner.

“Losing track of an account is easier to do than you might think, which is one of the reasons why we’ve been able to find and return more than $16 million to Mississippians this year alone,” said McRae. “My team works quickly to get this money back into Mississippians’ wallets, but citizens can also take steps to ensure it doesn’t get lost in the first place. That’s why I’m encouraging you to contact your bank or financial institution before year’s end to be sure every account in your name is properly claimed.”

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If your property is declared unclaimed and has been returned to the state, you can search for it at Treasury.MS.gov. Enter your name in the search box, and click go.