$15M in unclaimed property set to be paid starting in November

85,000 people owed money

BATON ROUGE, LA (WAFB) - More than 80,000 citizens owed unclaimed property will receive checks in November or December, according to officials.

The Louisiana Department of the Treasury and Louisiana Department of Revenue are partnering up to send checks to 85,000 people owed up to $1,500, according to Treasurer John Schroder Sr.

“All you have to do to collect this money is open up your mailbox,” said Schroder. “You don’t have to file a claim form or submit any paperwork. We’ve done all of the work for you.”

Here is an explanation of unclaimed property:

Businesses from all over the country are required by law to report unclaimed property to the Treasury each year and provide the last known address of the owner. Sometimes, the address the company has on record is no longer correct. One of the main reasons an item becomes unclaimed property is because of an incorrect or old address. Act 339 of the 2018 Regular Session of the Legislature by Rep. Neil Abramson permitted the Louisiana Department of Revenue to share its database of current and correct addresses with the Treasury for the sole purpose of returning unclaimed property. As a result, the Treasury was able to update the addresses it had on file and clear out a backlog of unclaimed property that was still on the books. After cross-referencing the Louisiana Department of the Treasury's database with the Department of Revenue's updated addresses, 85,000 individuals who were owed $15 million were successfully matched. Recipients on this list whose claim did not exceed $1,500 can expect an official check from the Treasury sometime during the months of November and December. Citizens who are owed larger dollar amounts will be contacted to start the claims process in the near future.

Officials said the project covers unclaimed property from 2013-2017.

You can also call 1-888-925-4127 (Monday-Friday, 8 a.m.-4:30 p.m.).

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