State Treasurer David McRae today announced he has returned more than $40 million in unclaimed property to Mississippi since taking office in January 2020. This marks the Treasurer’s second record-breaking year in a row.
“When we return unclaimed money, we are stimulating the state’s economy without increasing the burden on taxpayers. It’s a win-win,” said McRae. “Over the last year, we have made it easier than ever to file a claim, offering Mississippians the option to complete the entire process online. We have also improved the holder reporting system. Because of those updates and the priority we continue to place on proactively finding the rightful owners of unclaimed money, I am incredibly proud to announce we have exceeded $40 million in returns since I took office in 2020.”
Unclaimed money 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 cash.
To search for unclaimed money, visit Treasury.MS.gov/UnclaimedMoney.