Different Angecy in Charge of Missing Money

The state is currently holding more than $400 million in unclaimed assets. This money comes from forgotten paychecks, insurance premium overpayments, utility deposits, forgotten bank accounts, forgotten stocks, abandoned safe deposit boxes and many other forms of assets that have been lost, forgotten about or that people did not even know they had.

As part of the recently passed state budget, the administration of Wisconsin’s Unclaimed Property Program, which works to reunite citizens with lost property being held by the state, has been transferred from the Office of the State Treasurer to the Department of Revenue (DOR).

The transfer of the Unclaimed Property Program from the Office of the Treasurer to DOR is significant for two reasons.

First, the Program was one of the last substantive duties of the Office of the Treasurer. With little work left to do, recent discussion of the abolishment of the office will increase. Already a bill, AJR 48, has been introduced that would amend the state constitution to do so.

Secondly, DOR is a much more powerful agency than the Office of the Treasurer, with many more resources at its disposal. DOR could do much more to collect unclaimed property and also has access to data sources that could match more residents with their missing property.

You can search for you missing money online at www.wismissingmoney.com.