Representatives from the Virginia Department of the Treasury’s Unclaimed Property Program will be in Danville next week to help local citizens who might be owed funds they don’t know about.
The representatives will set up at the City of Danville Treasurer’s Office from 1 p.m. to 5 p.m. on Wednesday, Dec. 4, and from 8:30 a.m. to 12:30 p.m. on Thursday, Dec. 5. The Danville Treasurer’s Office is located at 311 Memorial Drive.
The state Treasury’s Unclaimed Property Division operates essentially as a centralized lost and found. It handles unclaimed money and property turned over by companies when they have lost track of the rightful owner.
Unclaimed property can include utility deposits, customer refunds, unpaid wages, money from insurance policies, securities and investments, bank accounts, and tangible property.
Under Virginia law, any funds in dormant financial accounts must be turned over the state government, which holds them in trust. Examples of dormant accounts include a company that sent a check but was never cashed or perhaps a loved one who died with money he or she never collected.
The state Treasury’s Unclaimed Property Program is a consumer protection initiative to benefit citizens. No commissions or fees are charged.
In addition to attending next week’s community outreach event, citizens can always go online 24/7 to www.vaMoneySearch.org and search their name for unclaimed property.
There is no charge for searching, either at community-outreach events or through the Website at www.vamoneysearch.org.
In the fiscal year 2019, the program paid out a record $87.1 million, representing over 129,900 asset accounts, and since its founding in 1961, the effort has doled out more than $847 million.
State officials caution consumers to be aware of fee-based unauthorized or unsolicited offers and make sure they are working with an authorized state representative.