Texas Comptroller of Public Accounts
09/05/2024 | Press release | Distributed by Public on 09/05/2024 09:24
Texas Comptroller Glenn Hegar Announces Record $422 Million in Unclaimed Property Returned in Fiscal 2024
September 5, 2024
Texas Comptroller Glenn Hegar Announces Record $422 Million in Unclaimed Property Returned in Fiscal 2024
(AUSTIN) - The Texas Comptroller's office approved and paid out a record $422.4 million in unclaimed property during the past fiscal year, Comptroller Glenn Hegar announced today.
The record in unclaimed property returns tops the $344 million returned to rightful property owners in fiscal 2023, and it is the fifth time in the last six fiscal years the Comptroller's office has returned $300 million or more in unclaimed property in a fiscal year.
"The $422.4 million represents nearly 250,000 claims paid to their rightful owners, and the fact that my office has returned nearly $3 billion to Texans since I became Comptroller is a testament to the hardworking folks in our Unclaimed Property Division," Hegar said. "I encourage everyone to visit ClaimItTexas.gov to see if the state is holding some of their unclaimed property."
The Comptroller's office has returned more than $4 billion in unclaimed property to its rightful owners since Texas' unclaimed property program began in 1962. The state is currently holding more than $9 billion in cash and other valuables through the program.
The $422.4 million in unclaimed property returned in fiscal 2024 includes forgotten utility deposits or other refunds, insurance proceeds, payroll checks, cashier's checks, dividends, mineral royalties, dormant bank accounts and abandoned safe-deposit box contents. Businesses generally turn property over to the unclaimed property program after it has been considered dormant for one to five years.
There is generally no statute of limitations for unclaimed property the state holds, which means there's no time limit for owners to file a claim - they can do so at any time.
For more information about the program, or to search for unclaimed property and begin the claims process, visit the Comptroller's website, ClaimItTexas.gov, or call 800-321-2274 (CASH).