Kansans have more than $500M lingering with the state. Here’s how to see if some is yours
Looking at your bank account and notice something seems off? You’re not the only one.
According to the Kansas State Treasurer’s office, thousands of people accidentally lose property every year. It mostly takes the form of money, like court deposits, dormant checking and savings accounts, insurance benefits, utility deposits, wages and more.
The treasurer’s office currently has about $67 million worth of unclaimed property from Sedgwick County, part of a wider more than $500 million being held by the state, according to a treasury spokesperson.
The unclaimed property accounts for all amounts accumulated since the program began in 1979. Last year, almost $2 million was returned to residents in Sedgwick County.
Despite some publicity around unclaimed property, the state only returned less than half of the money it received last year, just $26 million of $56 million, according to the office.
Want to see if you have unclaimed property in Kansas? We put together a guide on doing so.
How does unclaimed cash and property end up with the state?
There are multiple ways to lose track of your property. According to the treasurer’s website, moving and forgetting to send someone, like a bank or an employer, a forwarding address is a common way for checks to get lost in the shuffle.
Instead of reaching their rightful owners, these unclaimed assets end up with the treasurer’s office, where their job is to unite the property with the correct owners.
Not only does the unclaimed property come from individuals, but it can also be from businesses and government organizations, as well.
If money never gets claimed, it will remain in the database and never revert to the state.
How do I know if I have unclaimed property in Kansas?
To see if you have any unclaimed property, visit the Kansas State Treasurer’s website and go to the unclaimed property page.
From there, click on “search for unclaimed property,” where it will then ask you for your first, last and middle name. Once you have answered all prompted questions, it will then show you what properties match your search and you can select the properties and “add them to your cart.”
If you’ve lived in multiple states, make sure to check in every state you’ve lived in.
How long before I get my money?
Once your claim is approved, it can take up to two weeks for the payment to be made.
According to the state’s website, there is no time limit on when you have to claim your funds, but all stock properties have to be liquidated in six months, and the proceeds are applied to the property for the owner.
Safe deposit boxes are sold in three years, with the proceeds being applied to the owner’s property.
The average claim in Kansas is about $260.
