Gov. Gordon proclaims Feb. 1 “Unclaimed Property Day”

State Treasurer’s Office has nearly $350 million waiting to be claimed

     CHEYENNE – Wyoming Gov. Mark Gordon is encouraging all residents of the State to search www.mycash.wyo.gov and see if they are entitled to any of the $350 million in Unclaimed Property that has been turned over to the Wyoming State Treasurer’s Office.

     To help spread the word throughout the Cowboy State, Gov. Gordon has proclaimed Feb. 1 “Unclaimed Property Day.” 

     “One of our biggest challenges is letting residents know that we are holding all of this money owed to individuals, estates and businesses,” Treasurer Curt Meier said. “We appreciate the Governor making this proclamation and spreading the word about Unclaimed Property.” 

     The Governor commended Meier for his dedication and efforts to reunite these funds to their rightful owners.

     “Returning unclaimed property to its rightful owners is about basic fairness and good government,” Gordon said. “This proclamation highlights our responsibility to protect what belongs to the people of Wyoming and ensure it finds its way home.”

     Meier said these “properties” are usually money, but they can also include stock and mutual fund shares as well as the contents of safe deposit boxes that have been abandoned.

     “During the last fiscal year that ended June 30, our office approved and paid nearly 6,000 claims totaling more than 41.3 million dollars,” Meier said. “Despite that, we still have nearly 350 million dollars left with more money added every month. Even if we have paid you in the past, it is worth the time to search your name every year or two to see what else you might be entitled to.”

     Some of these properties may only be worth a few pennies, but the State of Wyoming made three payments that exceeded $1 million in the last fiscal year. On top of that, in November, the State mailed a $976,000 check to an individual in Seattle and in October paid a Cheyenne estate $688,000.

     Nationally, an estimated one out of every seven Americans is owed unclaimed property, according to the National Association of Unclaimed Property Administrators (NAUPA). More than $4 billion was returned by all the states over the last year.

     Common examples of unclaimed property include unpaid life insurance benefits, account refunds, forgotten bank accounts, royalty payments, utility deposits, unused rebate cards and liquidated virtual currency accounts, to name a few.

     Those wanting to see if they are owed any of the properties held by the State are encouraged to watch the 2-minute instructional video at www.mycash.wyo.gov before searching the online database.

     Unclaimed property is turned over to the state of last known address. If there was no last known address, it is turned over to the state in which the business was incorporated. Taking this into account, those who have lived in another state may want to visit www.missingmoney.com and see if they are owed unclaimed property from any other state.  

     To make a valid claim at www.mycash.wyo.gov or any other state’s site, owners will need to provide information about themselves and may need to submit official documents. This could be as simple as a copy of a driver’s license, but additional documents may be required for those claiming as an heir or a closed/dissolved business.

     Wyoming law requires the State to hold unclaimed property in perpetuity until it is claimed by the rightful owner.