The state announced a new system to make the search and recovery process for claiming lost or forgotten money easier for Ohioans, according to our news partner 10TV WBNS.
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The Ohio Department of Commerce’s Division of Unclaimed Funds says the state is holding around $4.8 billion in unclaimed funds, according to WBNS. The division returned nearly $150 million to Ohioans last year through around 26,000 claims.
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The division retains the unclaimed funds, which come from dormant bank accounts, uncashed checks, stocks and bonds, utility deposits and unclaimed wages, WBNS says. The division says the funds never expire.
The new system can search for unclaimed funds, upload required documents and track their claims status, WBNS says.
Business owners can also use the system instead of having to use the Ohio Business Gateway, according to WBNS.
Claiming funds is a three-step process:
- Search for unclaimed funds and generate a claim form by accessing the new system at com.ohio.gov/UnclaimedFunds.
- Review and gather the required documentation.
- Submit the claim form and any documents by mail or upload them directly through the system.
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