State Department of Treasury returns $20 million worth of unclaimed property

State Department of Treasury returns $20 million worth of unclaimed property

NEW ORLEANS, LA (WVUE) - There’s a chance people throughout the state could receive a check up to $1,500 in the mail by the end of the year.

The State Department of Treasury is sending out $20 million worth of unclaimed property back to their rightful owners. The Department of Treasury is partnering with the Department of Revenue for the first time to mail out almost 100,000 unclaimed property checks.

"We matched information on unclaimed property, which is lost money, with the files with the department of revenue, and we got a match of over 90,000 people, which equaled to almost $20 million dollars," State Treasurer John Schroder said.

Schroder said the department started sending checks a couple of weeks ago. This is money that was turned over to the state from a variety of places like insurance companies or banks.

"This is actually lost money that these companies have lost your address and after a certain amount of time, that money has to be returned or given to the state, and the state returns the money to the citizens of Louisiana," Schroder said.

Some people said they might be skeptical if they received the check in the mail.

"If there was something in the news, if there was a form that went along with the check explaining it, yea. And seven out of ten, if a person gets that, hopefully they won't throw it away," Jerome Wilson said.

“Treasury Department has to be legit, right? So, if it comes through the mail, fantastic. I hope I get one, and I hope a lot of people do get one,” Pierre Pichon said.

If you didn’t get a check in the mail, there’s still a chance to check for unclaimed property by going on the State Treasury website and checking in the “Unclaimed Property” section.

"We are doing what we can to, if we have your money and you have a tax return on record, and it's under $1,500, you're going to get a check," Schroder said.

Schroder said they will be sending the close to 20 million dollars worth of checks by the end of the year. Those who do receive one have up to 180 days to deposit it.

He said the check should come in a Department of Treasury envelope including a seal. Those wary about it being a scam can call the department to check.

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