Bucks County has $133 million in unclaimed assets. How to check if any is yours

Everyone loves a surprise, like discovering $10 in your pocket or winning the lottery.

And there is luck to be had, courtesy of the state of Pennsylvania.

About 1 in 7 individuals in Pennsylvania may have unclaimed property, with the state Treasury currently holding over $4.5 billion in unclaimed funds. Bucks County alone accounts for more than $133 million of this unclaimed property.

Here's how to check if any is yours.

What is unclaimed money?

Unclaimed money, often referred to as 'unclaimed' or 'abandoned' property, encompasses assets or accounts held by financial institutions or companies that have seen no activity for a period of one year or longer. This money is typically considered abandoned or unclaimed, and efforts are made to return it to its rightful owner or beneficiary.

The catalog of unclaimed property is extensive and diverse, encompassing stocks, dividends, and the contents of unattended safe deposit boxes, among other assets.

"I urge everyone to search online at any time. You never know what you’ll find,” said Pennsylvania State Treasurer Stacy Garrity

The property enters the 'unclaimed' category after a prescribed dormancy period with no activity or communication, as mandated by law, necessitating its transfer to the state. When a company, bank, or other entity cannot locate the owner after a specified timeframe, typically three to five years, the assets are automatically transferred to the state.

Recently, Bucks County residents reclaimed over $200,000 in unclaimed property in a single day.

"I encourage anyone who may think they have unclaimed property to check online or contact our office for assistance,” said state Sen. Frank Farry, of Langhorne.

Several individuals have received refunds for overpaid utility bills from years ago, while others have reclaimed funds from previously forgotten paychecks. The amounts can vary, ranging from a few dollars to hundreds, and even thousands.

“I’m proud that we were able to bring these important services directly to our constituents in Bucks County. Never did I think we would help recover over $200,000 of their own money,” said state Rep. Joe Hogan.

How to check if you have PA unclaimed property?

To determine if you have unclaimed property, start by visiting usa.gov/unclaimed-money, where you'll discover a comprehensive list of potential sources of funds and websites to input your personal information for further details.

MissingMoney.com, backed by the National Association of Unclaimed Property Administrators and the National Association of State Treasurers, serves as a nationwide hub for unclaimed assets, featuring participation from most states. Officials say to conduct both a national search and specific state searches, especially in areas where you've previously resided, no matter how briefly.

Avoid using search engines like Google due to the prevalence of scammers in search results. Instead, find the link to your state's treasury website by visiting the National Association of Unclaimed Property site and selecting your state or province.

The U.S. Department of the Treasury has introduced Treasury Hunt, a tool allowing users to search for "matured, uncashed savings bonds." Eligible bonds must be over 30 years old and no longer earn interest.

The state safeguards a diverse range of unclaimed property, including old stocks and forgotten savings accounts, until their rightful owners or heirs emerge.

Each state maintains an unclaimed property division responsible for returning these funds to their rightful owners. The process is free, and once a claim is submitted, it is a relatively straightforward and swift procedure, officials said. However, exercise caution when dealing with companies that charge a fee for unclaimed property searches or claims.

This article originally appeared on Bucks County Courier Times: Many people are surprised to discover they have unclaimed property