For Immediate Release
February 1, 2023
Sheena Kadi
Communications Director & Public Information Officer
sheena.kadi@state.co.us
303-349-8113
Today is Proclaimed Unclaimed Property Day in Colorado
In the last year, almost $58 million was returned to rightful owners or heirs
COLORADO: TODAY is the third annual National Unclaimed Property Day, and Treasurer Dave Young wants to reunite Coloradans with their lost money or property.
“The Treasury Department is holding on to more than $1.5 billion in cold, hard cash,” Treasurer and former President of National Association of Unclaimed Property Administrators Dave Young shared. “We want to reunite rightful owners or heirs with their lost money or property. It only takes 30 seconds to search your name at colorado.findyourunclaimedproperty.com.”
Colorado Governor Jared Polis proclaimed today to be Unclaimed Property Day.
“Unclaimed property is often left behind for extended periods of time so I appreciate Treasure Young’s initiative in making this process accessible for all Coloradans and reminding people to file claims. Thousands of Coloradans have filed so far with almost $58 million being returned last year and I encourage everyone to take a moment and check it out for themselves at colorado.findyourunclaimedproperty.com,” said Governor Polis.
Live stream can be found on the Colorado Department of Treasury’s Facebook page.
In the last year since National Unclaimed Property Day 2022, The Great Colorado Payback returned almost $58 million to 67,696 claimants through our Unclaimed Property Division. To simplify the claims process, a program which proactively returns funds was started, returning $4.13 million to 13,702 rightful owners without requiring additional paperwork for identification purposes. The average claim last year was $855.68.
“There’s a chance – at least 1 in 7 – that there’s unclaimed property, like gift certificates, unpaid wages, or uncashed checks, with your name on it,” Unclaimed Property Director Bianca Gardelli said. “And the Great Colorado Payback wants to make sure that you’re reunited with your money.”
“It’s not just individuals with unclaimed property,” Treasury spokesperson Sheena Kadi stated. “Schools, businesses, nonprofits, municipalities - there are millions of dollars waiting to be claimed. Search not only for yourself, family, and friends, but also search for your favorite school, nonprofit, or coffee shop.”
Money or property turned over to the State Treasury for safekeeping is held for the owner or heir of the account and there are no time limits for filing a claim.
The Colorado State Treasurer currently maintains a list of over 12.5 million names of individuals, corporations, municipalities, schools, nonprofits, hospitals, and small businesses are also listed among the many individuals whose property is available to be claimed, including over $1.5 billion in cold, hard cash. To date, the Great Colorado Payback has reunited over $624 million to their rightful owners.
Unclaimed Property Laws
Unclaimed Property laws began in the United States as a consumer protection program and they have evolved to protect not only the owners, but also their heirs and estates. Unclaimed property is tangible or intangible property that has had no activity for a specific period of time. Unclaimed property includes, but is not limited to, abandoned financial assets such as stocks and dividends, mutual funds, checking and savings accounts, unpaid wages, securities, life insurance payouts, uncashed checks that are without activity for a certain period of time, as well as the contents of safe deposit boxes for which the rent has been expired for at least five (5) years. It does not include real estate or vehicles.
The organization holding the original obligation is required to make every effort to contact the owner and establish activity. If they are not able to make contact, that asset is reported to the state of the owner’s last known address.
Once the property is in the custody of the state of Colorado, outreach begins through mailings, the website, advertisements, and local media coverage.
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colorado.findyourunclaimedproperty.com