Millions owed to McKean County residents
HARRISBURG — Treasurer Stacy Garrity announced more than $5.9 million of unclaimed property is owed to residents of McKean County.
‘One of my top priorities as state treasurer is to return unclaimed property to Pennsylvanians in every corner of the Commonwealth,’ Treasurer Garrity said. ‘I’m glad to safeguard these funds, but this money doesn’t belong to the state – it belongs to our hardworking taxpayers. Every dollar can make a huge difference for families right now, so I encourage everyone to search our website for themselves and their loved ones to see if they’re owed any unclaimed property.’
Treasury returned the most unclaimed property ever over two consecutive years, restoring more than $500 million to the rightful owners. Since taking office, representatives said, Garrity has returned more than $880 million in unclaimed property.
More than one in 10 Pennsylvanians is owed unclaimed property, and the average claim is worth about $1,600. Over the past four years, $865,489 has been returned to residents of McKean County. In total, Treasury is working to return more than $4.5 billion in unclaimed property.
In May, more than 40,000 Pennsylvanians will receive letters notifying them that unclaimed property will be returned to them as a part of the Pennsylvania Money Match program. Pennsylvania Money Match authorizes Treasury to automatically return single-owner properties worth up to $500 after a thorough identification and verification process. Treasury will complete this process quarterly.
Pennsylvanians are still encouraged to search Treasury’s unclaimed property database regularly at patreasury. gov/unclaimed-property to see if property is available for them to claim.
Unclaimed property includes things like dormant bank accounts, uncashed checks, forgotten stocks, insurance policies and much more. State law requires businesses to report unclaimed property to Treasury after three years of dormancy.
Unclaimed property can also include tangible items, such as jewelry or other valuables stored in abandoned safe deposit boxes. Tangible property may be auctioned by Treasury after three years of searching for a rightful owner. All auction proceeds are available in perpetuity for a rightful owner to claim.
Treasury often receives military decorations and memorabilia as unclaimed property and works diligently to find the veterans who earned them or their families. Military decorations and memorabilia are never auctioned.
Since taking office, Garrity has returned 491 military decorations and memorabilia, including 12 Purple Hearts, one Gold Star and three Bronze Stars. About 480 military decorations remain in Treasury’s vault, including two associated with McKean County. Anyone wanting to help Treasury find the rightful owners can visit patreasury.gov/ unclaimed-property/medals.
Anyone searching for unclaimed property who needs assistance can call (800) 222-2046 or email tupmail@patreasury.gov. State legislative offices can also assist.