Thursday, July 18, 2024

$5.1 Million in Unclaimed Property Checks on The Way

by BIZ Magazine

BATON ROUGE, LA. – Louisiana State Treasurer John Fleming, M.D., announced that 27,842 unclaimed property checks totaling $5.1 million will be mailed out on Thursday June 13 following a data match to update addresses with the Louisiana Department of Revenue. Checks will be mailed to individuals living in every parish in the state.

“I want to stress to all of the recipients that these are real checks from the Louisiana Department of Treasury, so please cash them,” said Dr. Fleming. “Every year, some of the checks we mail out are not cashed. This is due to people changing addresses and others not believing the checks are real. Let me guarantee that these checks are real. It’s your money,” said Dr. Fleming.

Act 339 of the 2018 Regular Session permits the Louisiana Department of Revenue to share its database of current addresses with the Louisiana Department of Treasury to return unclaimed property. As a result, the Louisiana Department of Treasury annually updates the addresses on file and clears out a backlog of unclaimed property still on the books and mails checks to citizens without the need to file a claim.

There is currently $1.2 billion in unclaimed property to return to Louisiana citizens. Each year businesses turn over millions of dollars in unclaimed cash, stocks, bonds, securities, and insurance proceeds to the Louisiana State Treasurer’s Office.

These assets are known as “unclaimed property,” and can include payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates, and life insurance proceeds.

Occasionally, the address the company has on record is no longer correct. One of the main reasons an item becomes unclaimed property is an incorrect or old address.

One in six individuals in Louisiana has unclaimed property, with claims averaging $900. To find out if you have unclaimed property, search at LaCashClaim.org or call the Treasury’s Unclaimed Property Division toll-free at 1-888-925-4127 (Monday through Friday, 7:30 am to 4:00 pm).

Below is a list of parishes in alphabetical order, amounts returned, and the total number of checks issued:

Source: La. Dept. of the Treasury

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