Hundreds of Thousands of New Jerseyans Have Unclaimed Property of Value, Here’s How To Find Yours
The New Jersey Department of Treasury’s Unclaimed Property Administration returned a record $163 million in assets to rightful owners in Fiscal Year 2022, which concluded at the end of June. More than 200,000 new unclaimed assets were reported to the State this year alone and are now waiting to be claimed by the rightful owners.
“Returning valuables to the rightful owners is always a rewarding mission, but in times of financial uncertainty, our mission is essential. We encourage every New Jerseyan to complete the free search on our website. Our staff stands ready to help them claim any assets they may be entitled to,” said Unclaimed Property Administrator Steve Harris.
Nearly 33 million people in the United States – 1 in every 10 – have unclaimed property such as financial accounts or items of value in which the owner has not initiated any activity for a number of years. When the property goes unclaimed and untouched for several years, and the company cannot locate the owner, the money or property is submitted to the State. Common examples of assets submitted to the State include life insurance benefits, forgotten bank accounts, utility deposits, and unused rebate cards.
“Our Unclaimed Property Administration does a tremendous job conducting outreach all year long to make residents aware of this state service that is absolutely free to them,” said State Treasurer Elizabeth Maher Muoio. “We encourage New Jerseyans wishing to avoid fees charged by others for this service to take advantage of our free, easy-to-use website and reconnect with their unclaimed assets.”
Every year the Unclaimed Property Administration (UPA) publishes in newspapers around New Jersey a list of all assets reported to the State in the previous year to help rightful owners connect with their money or property left unclaimed.
This year’s list of unclaimed property surpasses 224,000 names and businesses, up from 153,000 in Fiscal Year 2021 when UPA returned $139 million in assets to its rightful owners. In total, the UPA is currently safeguarding assets worth a combined $5.9 billion that are waiting to be claimed.
This year, the list of newly added properties is available by county on the Unclaimed Property Administration’s website. While certain third-party companies will charge a fee to connect individuals with their assets, there is never a charge for searching the UPA’s database or for claiming property on the State’s secure website. Once approved, the asset is returned to its rightful owner with interest.