PORTLAND, Ore. (KOIN) — Check your mail! Some Oregonians will be receiving checks ranging from $50 to $10,000 in the coming months, according to the state Treasury.
In a release on Tuesday, Treasurer Tobias Read announced about $10 million in unclaimed funds will be returned by summer 2023. The disbursement of unclaimed funds is part of the “Checks Without Claims” initiative that aims to connect forgotten funds to the rightful owners.
These unclaimed funds come from a slew of sources, including uncashed checks, forgotten bank accounts and tax refunds.
The disbursement process begins in February, with the Treasury returning unclaimed funds that were reported to the state in 2018. For unclaimed funds reported in 2019, checks will be distributed to verified owners during the month of April. The final disbursement of unclaimed funds, which were reported to the state in 2020, will be made in June.
Individuals determined to be the owners of unclaimed funds will reportedly receive a letter notifying them of the anticipated payment. The Treasury will then mail a check and a confirmation letter to the verified owner.
Individuals can search for unclaimed money on the Treasury’s website and file an online claim to recover it. The Unclaimed Property Program, however, asks Oregonians who receive a letter as part of the “Checks Without Claims” initiative to wait for their check before submitting a claim.
The state estimates more than $1 billion in unclaimed funds is out there waiting to be found.
