Names of Persons with Unclaimed Property to Be Published Statewide in Newspapers This Week

BATON ROUGE, LA – Do you have a hidden treasure? State Treasurer John Kennedy announced today that the names of over 25,000 people who are eligible to claim more than $9 million in Unclaimed Property that was turned over to the state during the past year will be published in the legal notices section of newspapers throughout Louisiana this week.

Millions of dollars in lost money your money is being held by the state, Kennedy says. Now the Louisiana Legislature and the State Treasury want to give it back to its rightful owners.

Under Louisiana’s Unclaimed Property Law, the Louisiana Department of the Treasury is responsible for locating owners of unclaimed intangible personal property turned over to the state and refunding that property to them. This Unclaimed Property may include payroll checks, bank accounts, royalties, utility deposits, interest, stock certificates, and life insurance proceeds. State law requires that the newly acquired names of Unclaimed Property owners be published annually in a newspaper of general circulation in the parish of the owner’s last known address.

Kennedy managed the Unclaimed Property Division as Revenue Secretary for more than three years prior to his election for State Treasurer. During that time, the department returned over $22 million to more than 50,000 people across the state. The Legislature transferred the state’s Unclaimed Property Program from the State Revenue Department to Treasurer Kennedy’s office on July 1, 2000. Since that time, over $3 million has been returned, and Kennedy said another $160 million still remains unclaimed.

To see if you have a part of this Hidden Treasure, contact the Treasury toll-free at 1-888-925-4127 Monday through Friday from 8:00 A.M. to 4:30 P.M. Information may also be obtained by writing to the Louisiana Department of the Treasury, Unclaimed Property Division, P.O. Box 91010, Baton Rouge, LA 70821-9010. The state does not charge a fee for returning an owner’s property, and there is no expiration date for making a claim for unclaimed property. However, proof of ownership must be submitted before the funds will be released.

For more information or to perform a complete search of the Department’s Unclaimed Property database that contains more than 500,000 names and $160 million in total Unclaimed Property, visit the Department’s Internet Web Site at http://www.treasury.state.la.us. “It’s our job to find the rightful owners and we are delighted to return someone’s hard-earned money to them, says Kennedy. Government expects taxpayers to pay their taxes on time, so the least they can expect is for us to try to return what is rightfully theirs on time.”

Contact:
Jason Redmond, Deputy Treasurer
(225) 342-0010