NC Speeds Up Return Of Unclaimed Property: Are You Owed Money?

NORTH CAROLINA — Does the state of North Carolina owe you money? With about $800 million in unclaimed assets currently safeguarded by the Department of State Treasurer, it's possible. A new state program is now speeding up the return of unclaimed money to its rightful owners, the state's treasurer said.

“One of the most rewarding parts of my job is returning money to North Carolinians, especially during these economically challenging times of job, food, health and education insecurity,” Treasurer Dale Folwell said.

The new program, put in place by the North Carolina General Assembly, waives paperwork requirements for tens of thousands of unclaimed property claims valued at $250 or less, Folwell said.

The Unclaimed Property Division will research claims valued at $250 or less, send a letter of notification and issue a check in six to eight weeks. For these claims, there will be no forms to fill out, no proof of ownership or signature pages to complete.

UPD said it expects to pay out $1.4 million by April 2021 through 25,000 expedited claims, and has a goal of paying out $2.8 million for at least 50,000 claims annually thereafter.

According to DST, the state has nearly $800 million in money, uncashed checks, forgotten bank accounts, utility deposits, stocks, bonds, other abandoned funds and personal property, many of which are worth more than $250.

“There are more items waiting to be claimed than there are residents of North Carolina, so the chances that there is unclaimed property with your name on it are very good,” Folwell said.

Do you know if the state of North Carolina owes you money? Check online here.

"[D]o a search for your name, your wife’s maiden name, and your friends’ and relatives’ names," Folwell said. "You may be surprised to find you have money just waiting to be claimed.”

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