State treasury returns $7M in unclaimed property

McRae

Treasurer David McRae announced this week that the Mississippi State Treasury has returned $7 million in unclaimed property since he took office in January.

This includes $1.7 million that was distributed during the COVID-19 shutdown.

“Recent events have hit many Mississippians right in the wallet,” said McRae in a news release. “Returning unclaimed property is one way the State Treasury can help give Mississippians a boost and stimulate our local economies without adding to the state budget or increasing the financial burden on taxpayers. Millions of dollars remains unclaimed though, so we are strongly encouraging every Mississippian to check the database for their name at Treasury.MS.gov.”

Unclaimed property is turned over to the state when banks, credit unions, and even retail stores are unable to find the rightful owner.

After five years, financial institutions turn that money over to the state and the Treasury’s Unclaimed Property Division is charged with finding the owner and returning the money.

To searching for unclaimed property, visit treasury.ms.gov, enter your name in the search box, and click go.

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