Does The NJ Treasury Owe You Money? Find Out Here

Millions of New Jersey residents could be sitting on some extra holiday cash that is being held by the state treasury. The state holds onto unclaimed money from forgotten savings accounts, uncashed checks, inheritances, insurance policies and other sources.

The good news is, it's easy to find out of some of that money is yours.

The state treasury has partnered with missingmoney.com to allow residents to search online to determine if they have unclaimed property.

According to some estimates, the state was holding onto more than $4.5 billion as recently as 2016, Unclaimed Property Administration Administrator Steven Harris told New Jersey 101.5 last year.

So what if you do have unclaimed property?

You'll have to file a claim to have it returned, but the process is simple, according to the UPA.

"Abandonment periods" — or the amount of time it takes for the property to be designated as unclaimed — varies for different types of property. Once property reaches the defined abandonment period with no activity, it is turned over to the state.

This process was established to protect the consumer, according to the UPA. Otherwise, the bank or other holder could simply pocket the money and not return it to its owner.

There is no time limit to claim your property. Once it is turned over to the state, the owner never relinquishes ownership. If property is not claimed it simply remains in the Unclaimed Property Trust Fund in perpetuity or until a valid claim is submitted and processed.

In fact, the state pays interest on the money. The interest is calculated starting from the date the property was handed over to the Unclaimed Property Administration.

Find out if you are owed money here.

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