Treasurer McRae returns over $40 million in unclaimed money

Do you have any unclaimed money waiting to be claimed? It’s time you checked.

On Tuesday, State Treasurer David McRae announced he has returned over $40 million in unclaimed property to Mississippi since taking office in January 2020. This marks the second-record breaking year in a row.

McRae noted that when his office returns unclaimed money, it stimulates the state’s economy without increasing the burden on taxpayers, saying it is a “win-win.”

Unclaimed money are funds that are turned over to the state when banks, credit unions, retail stores, and others are unable to find the rightful owner. Financial institutions turn that money over to the state after five years and the Treasury’s Unclaimed Property Division is responsible for returning the money to the owner.

“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,” State Treasurer McRae said. “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.”

In November, McRae stated that they are planning on doubling down on their efforts to return unclaimed money to the people of Mississippi this holiday season.

To see if you have unclaimed money, visit Treasury.MS.gov/UnclaimedMoney.