La. Sending Checks for More Than $4M in Unclaimed Property
BATON ROUGE – Louisiana State Treasurer John M. Schroder announced last week that the Department of Treasury will mail $4.3 million in unclaimed property checks to citizens across Louisiana after using tax records to update addresses. More than 33,000 checks began to go out last week.
“Every year, we work with the Department of Revenue to update addresses in our Unclaimed Property files,” said Treasurer Schroder in a press release. “We want people to know this is real money. Through data matches, we can mail checks without requiring people to send in a claim form. All you have to do is check your mailbox and cash your check. Even if you don’t get a check, you still may have unclaimed property. Visit our website at www.latreasury.com to search.”
The Department of Treasury said the greatest number of checks are going to addresses in East Baton Rouge, Jefferson, Orleans and Caddo parishes.
Unclaimed property is the state’s term for the millions of dollars in payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates and life insurance proceeds that wind up in the treasurer’s office each yea – often because the funds were sent to an incorrect or old address. Schroder said one in six individuals in Louisiana has such property, with claims averaging $900.
Louisiana law allows the Louisiana Department of Revenue to share its database of current and correct addresses with the Treasury for the sole purpose of returning unclaimed property.