MADISON, Wis. - The Wisconsin Department of Revenue is in the midst of its annual unclaimed property awareness campaign, publishing thousands of names of people with cash and other property waiting to be claimed.
"This is an exciting time of year for us as we see a precipitous uptick in people finding their name in the paper and contacting us," said DOR Tax Operations Bureau Director Erin Egan.
The agency currently holds more than $600 million in unclaimed property, a news release said. Egan said traffic to the DOR Unclaimed Property Search page continues to grow and is the best way for anyone to search, find, and claim their cash and other assets.
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How to search
The public can search any name for free. The DOR said one in seven people have unclaimed property in their name, and the average unclaimed property claim in Wisconsin is worth $1,225.
When someone finds money, the DOR said making a claim is fast and easy. There is also a live chat option on the search page that allows visitors to get help from a DOR unclaimed property specialist.
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"So many people don't know about Wisconsin's unclaimed property program or that they may have money waiting for them here," said DOR Secretary Peter Barca. "It could be an uncashed paycheck from past employment or an insurance policy payment that didn't reach them after they moved to a new home. All they need to do is search and make their claim, and we'll send them their money."
What is unclaimed property?
Unclaimed property, in general, any financial asset that hasn't had owner activity for a period of one year or more and the asset holder is unable to contact the owner. Unclaimed property includes funds from savings or checking accounts, uncashed dividends, insurance policies, or other accounts the owner may be unaware of or forgot. Banks, credit unions, insurance companies and other businesses must report unclaimed property to DOR each year by Nov. 1.