$5M in unclaimed funds to be distributed to Oregonians

Oregon

The funds come from "unclaimed properties" that have been reported to the state

A stack of $100 bills (Nexstar, file)

PORTLAND, Ore. (KOIN) — About $5 million in unclaimed funds is set to be distributed to current and former Oregonians this fall.

The money is coming from the state’s Unclaimed Property Program, as the Oregon Department of State Lands initiates the distribution of unclaimed funds. People will begin to receive letters informing them of the forthcoming checks by mid-October, according to the department. The initial letter will be followed by a check in early November.

Usually, individuals would need to file a claim with the program to receive the funds. However, with financial uncertainty still permeating our communities as the pandemic rages on, funds will be directly mailed to the correct owner for the first time in the program’s history.

These funds are referred to as “unclaimed property.” The ODSL says the unclaimed properties “have been reported to the state by companies and organizations that do business with Oregonians and have been unable to return the money to the correct owner.”

These “unclaimed properties” funds comprise of items such as uncashed checks, forgotten bank accounts, security deposits, tax refunds, credit balances, investment accounts, payroll checks, refunds and more.

The checks will vary between $50 and $2,500. The amount people receive will depend on how much unclaimed property each recipient is owed. Find further criteria online here. Anyone wishing to recover funds that will not be distributed this fall can file a claim online.

Any further questions about the funds distribution or about the Unclaimed Property Program can be directed to the Oregon Unclaimed Property Program via email at claims@dsl.state.or.us by phone at 503.986.5251 or 503.986.5200.

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