Is the state holding some missing money that belongs to you?

Tax returns are upon us, and many Minnesotans are tucking away their extra cash for a rainy day. Yet thousands – and I mean that literally – of Minnesotans don’t realize that they have unclaimed money being held by the state.

I know this sounds like some sort of scam, but it’s not. This is a local elected official, a state legislator, telling you to check the database because there is more than $700 million in state coffers, unclaimed and waiting to be returned to its rightful owners.

There are many reasons, according to officials at the Minnesota Department of Commerce, that people may lose track of their money or financial property – change of address, an unexpected death, or just a lapse in memory. Often, veterans and active duty military personnel find themselves on this list – with frequent moves and demands of the position, it’s easy to lose track of things.

This “unclaimed property” includes: savings and checking accounts, uncashed checks, securities, dividends, insurance refunds and wages. According to the Minnesota Uniform Disposition of Unclaimed Property Act, all unclaimed property must be reported to the Minnesota Department of Commerce.

Each year, Commerce receives millions of dollars in unclaimed property from businesses and organizations that have lost contact with the owners. The department is responsible for safeguarding the funds or property until claimed by the rightful owners or heirs. Visit MN.gov/Commerce and search for “missing money” to find out if the state is holding assets that belong to you.

For some Minnesotans, discovery of significant unclaimed property can be life changing. If you have family or friends who are veterans or active military members, please take 90 seconds to see if they have unclaimed funds at mn.gov/commerce/consumers/file-acomplaint/inquiries-and-information/unclaimed-property.jsp. Or you can call or email the Unclaimed Property Program at -unclaimed.property@state.mn.us

. Greater MN only: 1-800-925-5668

. Phone: 651-539-1545

Thirty seconds of your day could make a big difference to your pocketbook. Check online, and make sure the state isn’t holding what’s yours.

Rep. Rob Ecklund (DFL)
Minnesota House of Representatives