More than $570 million in unclaimed property is waiting to be claimed in Indiana. The state reunited Hoosiers with over $34 million so far this year, but millions more is yet to be returned to rightful owners.
Unclaimed property is any financial asset with no activity from its owner for an extended period of time. That includes wages or commissions, forgotten bank accounts, insurance claims, stock dividends, credit balances, customer deposits or overpayments, refunds and money orders. It does not include real estate, abandoned vehicles or stolen property.
Organizations holding unclaimed property will work to find its owner, but if attempts are unsuccessful they must report the assets to the state listed on the person’s last known address. The state in turn works to reunite this property with its owner via promotional efforts through advertisements, social media, mailings and media coverage.
While the average claim in Indiana is about $1,000, the largest paid this year so far was nearly $1 million. The state distributed more than 33,000 claims this year. They have a list of frequently asked questions about unclaimed property, including how to submit a claim and avoid having abandoned funds. Visit IndianaUnclaimed.gov or call 866-IN-CLAIM (866-462-5246) to see if you or someone you know has any unclaimed assets.