AUSTIN (KXAN) — From forgotten deposits to checks that were never cashed, the Texas Comptroller’s office worked all year to reunite Texans with money that’s rightfully theirs. It set a record for the total amount returned this past fiscal year — $281 million.
The past five years have all broken records for the amount of money returned to residents. The last record, set in 2016, was $270 million.
“Each year we make a commitment to reunite unclaimed property with its rightful owners, and this record underlines that commitment,” Comptroller Glenn Hegar said. “I encourage all Texans to visitClaimItTexas.org to see if the state is holding some of their unclaimed property.”
Unclaimed property includes forgotten utility deposits or refunds, insurance proceeds, payroll checks, cashiers checks, dividends, mineral royalties, dormant bank accounts and abandoned safety deposit box contents. Back in 1962, Texas started its unclaimed property program, which holds on to that money until people file claims to get it back. There is no time limit for people to file a claim, and they can search ClaimItTexas.org to see if they are owed any money and to start the process to get it back.
The state requires institutions, businesses and governmental entities to let the state know about any personal property that hasn’t been claimed for up to five years.
Texas currently has $4 billion in unclaimed property.