State Treasurer: More than 615,000 new properties added to Unclaimed Property Program

COLUMBIA, SC (WOLO)– State Treasurer Curtis Loftis says more than 615,000 new properties to the state’s Unclaimed Property Program.

According to officials, companies holding unclaimed property for South Carolinians must give the funds to the state’s Unclaimed Property Program every fall, and these funds are then administered by the treasurer.

“We know that approximately 1 in 10 Americans have unclaimed property. Each year billions of dollars get returned to State Treasurer’s Offices across the country,” said Treasurer Loftis. “It’s our job to return those funds to the rightful owners, and I am encouraging individuals, businesses, charities, schools and other organizations to check our website (treasurer.sc.gov) to see if we have funds waiting for you.”

Authorities say unclaimed property includes dormant bank accounts, uncashed checks and unclaimed insurance proceeds. Treasurer Loftis says there is currently more than $750 million in unclaimed property in the state.

“I often tell people that helping find owners of unclaimed property is one of the most gratifying parts of my job as state treasurer,” Loftis said. “Over the years, we’ve found people with a few hundred dollars to claims valued at nearly $1 million. There is no cost to search for or claim these funds, so we always want to remind people to check our database at least twice a year to see if they have unclaimed funds.”

Rightful owners of these funds can make a claim with the State Treasurer’s Office at treasurer.sc.gov/what-we-do/for-citizens/unclaimed-property-program.