Tennessee Treasury Returns Record Amount Of Unclaimed Property To Tennesseans In 2016

The Tennessee Treasury Department returned a record amount of unclaimed property in 2016 to Tennesseans across the state, marking a 28% increase over the prior year. In total, 41,827 claims were processed in 2016, totaling more than $34 million with an average claim amount of $817.

Unclaimed property is money that has been turned over to the state by businesses and organizations that cannot locate their original owners. Each year, millions of missing dollars are returned with the assistance of the Tennessee Treasury Department helping get that money back to original owners. And, while $34 million was returned during 2016, there is currently $789.2 million of money and property still waiting to be claimed.

Types of unclaimed funds held by the Treasury include stocks, bonds, gift certificates, checks, unclaimed wages, refunds from utility and other companies, life insurance annuities, among others. In Tennessee, unclaimed property does not include real estate or physical items.

The Treasury Department credits the large increase in returned property in 2016 to the Department’s website: ClaimItTn.gov. This searchable online database contains all unclaimed property in Tennessee dating back to the beginning of the program. You can visit www.ClaimItTn.gov to search for your name, and can file your claim through the website. The Department recommends searching for common misspellings of your name and addresses as well.

There is no expiration date for unclaimed property in Tennessee and it is held by the state until claimed by its rightful owner.

These unclaimed property services are offered by the Treasury Department free of charge and no fees are associated with processing a claim. Once a claim is received, the Treasury verifies the funds are going to the correct person, with many claims being returned within two weeks of being submitted.

For those without internet access, the Unclaimed Property Division can be contacted by phone at (615) 741-6499.

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