Montpelier, VT - Today, State Treasurer Mike Pieciak announced his office is launching a pilot program that will proactively reunite Vermonters with their unclaimed property. Though the Treasurer’s Office processes an average of over 17,000 unclaimed property claims per year, the amount of unclaimed property held by the state grows each year. The state currently holds nearly $120 million in unclaimed property.
The pilot program aims to return more money to Vermonters by proactively verifying their identities and mailing them checks. The Treasurer’s Office collaborated with the Vermont Department of Taxes, using address data the Department is allowed to share with the Treasurer, to verify the identities of 350 Vermonters with unclaimed property in amounts ranging from $200 to $225. As a result of the program, over $75,000 will be directly returned to Vermonters.
“The Treasurer's Office does a great job reuniting millions of dollars to thousands of Vermonters every year, and this pilot program will build on that success,” said Treasurer Pieciak. “Vermonters have felt the pain of rising prices over the last 18 months, so I am pleased we are able to proactively return over $75,000 of unclaimed property, especially before the holiday season. More money in Vermonter’s pockets means more money to support our state’s economy. I hope we are able to continue and expand this pilot program in the future.”
The Treasurer's Office generally raises awareness of unclaimed property through media campaigns and outreach events. Individuals are encouraged to search missingmoney.com to locate their money and then file a claim to retrieve their funds.
Individuals who fit the criteria of the pilot program will receive a certified letter in the next 10 days alerting them that they have been identified as someone with unclaimed property held by the Treasurer’s Office. Those individuals will then receive a check in the mail for their unclaimed property within three weeks following the receipt of the letter.
The Treasurer’s Office will closely monitor the success of the pilot program by determining how many letters are accurately delivered and the number of checks that are ultimately cashed. If successful, the Treasurer’s Office hopes to expand the pilot program to include more claims for Vermonters and work with Secretary of State Sarah Copeland Hanzas to include claims for businesses and nonprofits.
All Vermonters are encouraged to visit missingmoney.com to check if they have unclaimed property. For any questions about a claim or completing the claims process, please contact the Unclaimed Property Division at (802) 828-2407 or by email at unclaimed.property@vermont.gov.
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