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In 2006, $41.5 million in unclaimed property was sent to the State of Oregon. One in four Oregonians has money to be claimed!
By November 1 of each year, thousands of businesses and organizations remit unclaimed property - mostly money - to the Department of State Lands (DSL), the state agency charged with holding unclaimed property for rightful owners.
Any company that writes checks, drafts or warrants has the potential to generate unclaimed property, which includes payroll checks, refunds, overpayments, money orders, bank accounts, mutual funds and securities.
Typically, people lose or forget to cash a check, or forget to alert their bank or stockbroker when they move.
Businesses are in the process now of locating and contacting owners to verify or update addresses so that “dormant” accounts do not have to be reported to the state. If you are contacted and do not respond, the business will consider your property unclaimed and remit it to DSL.
You may claim your property from DSL at any time. All unclaimed property receipts are held in trust forever until claimed by the owner. The receipts are held in the Common School Fund, a trust fund established at statehood to finance public schools.
It’s easy to search for your name. Click here to see if we are holding money for you.
If you own a business or think your organization might have unclaimed property to report, click here to find out more about complying with Oregon's unclaimed property law.
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