Found money? NJ treasury encourages search for unclaimed assets

Matthew Fazelpoor//February 2, 2024//

Found money? NJ treasury encourages search for unclaimed assets

Matthew Fazelpoor//February 2, 2024//

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The New Jersey Department of Treasury is urging the Garden State public to check and see if they have .

To mark Unclaimed Property Day Feb. 1, the department put out an advisory this week noting there are more than 33 million people in the United States with unclaimed assets. Here in New Jersey, Treasury’s Unclaimed Property Administration (UPA) is currently holding $6.3 billion in forgotten assets.

Unclaimed property can include forgotten bank accounts, unpaid life insurance benefits, utility deposits, unused rebate cards and more.

In Fiscal Year 2023, UPA returned a record $202.95 million to its owners through 73,686 claims filed with the agency. That surpassed the previous record, set in FY 2022, of $164.13 million in assets returned via 50,867 claims.

More than $2.4 billion has been returned since the program’s inception.

“Our Unclaimed Property Administration works diligently year-round to safeguard and reunite people with unclaimed assets,” said State Treasurer Elizabeth Maher Muoio in a press release. “In doing so, UPA has broken its own records for returning property to rightful owners for two consecutive years. This remarkable success is a testament to UPA’s commitment to its overarching mission and an example of public service at its finest.”

People can look up their name or business/nonprofit with the UPA’s free search tool to see if any property is being held by the state.

The state notes that while the search is free, certain third-party companies will charge a fee to connect individuals with their assets. Once approved, the asset is returned to its rightful owner with interest.

“It’s thrilling to hear stories from people who’d discovered they had missing assets, big or small, and its return making a real difference in their lives,” said UPA Administrator Steve Harris. “One quick search on our website can reunite people with property they’d entirely forgotten about – or didn’t know they had.”

The UPA search is available to access here.