The state treasurer’s office issued a reminder on Tuesday that the government may be holding onto some of your money.
Maine Treasurer Henry E.M. Beck’s office said in a statement today that millions of dollars in unclaimed monies remain in state hands. The money, Beck said, represents cash left in bank accounts, uncashed checks, life insurance policies, unpaid wages, stocks and dividends, refunds and other monies.
In these cases, Beck said, entities such as banks cannot locate the owners or account holders, and after a long enough period of inactivity the funds are turned over to the state and considered “lost or abandoned.”
According to the statement, as of June 30, the treasurer’s office has amassed $274.4 million in unclaimed funds, some in accounts dating back to 1979.
The money, however, does not belong to the state, and anyone who wishes to claim their money may do so, with no fees or other charges attached. State officials processed more than $16 million in such claims in the past fiscal year alone.
Anyone wishing to check to see if any money exists in their name, can visit www.maineunclaimedproperty.gov and search by name.