One in two Washingtonians have unclaimed property being held by the state. Defined as money or tangible property held by an organization that has lost contact with the owners, unclaimed property is now easier than ever to claim with the Washington State Department of Revenue's new UCP system called Claim Your Cash.
Patti Wilson from Revenue's Unclaimed Property Program joins New Day NW to share details about how the system works
You may have unclaimed property without even realizing it. In fact, Washington state currently holds more than $1.3 billion in unclaimed property.
“Not only does the state of Washington have an unclaimed property program, but every state in the United States has an unclaimed property program,” said Patti Wilson of the Washington State Department of Revenue. “So, if we’re not holding money for you, if you’ve lived in another state, you’re going to want to check in those states where you’ve lived to see if there’s unclaimed property.”
Unclaimed property can be things like a final paycheck you forgot to pick up, a utility deposit, shares of stock or the contents of a safe deposit box. These get reported to the state of the owner’s last known residence after the business has lost contact with that person.
The state of Washington has returned more than $1.1 billion to rightful owners so far, with the average claim being $250. The Department of Revenue’s new website provides a quick and simple way to find out if you have unclaimed property and then file a claim.
The new fast track process automatically approves claims that meet certain criteria, allowing most fast tracked checks to be received within five days or less. The Department of Revenue has paid more than 6,000 people who have qualified for the fast track process more than $400,000.
Here’s how to file a claim using the new website:
- Go to claimyourcash.org.
- Search for your name.
- File your claim.
- The Department of Revenue emails you a claim form (unless your claim is approved for FastTrack).
- Upload documents requested on the website.
- If approved, you are sent a check.
Wilson says her job in unclaimed property at the Department of Revenue is a rewarding one.
“It’s a fun job to have, especially working at the Department of Revenue, people don’t always want to hear from us,” Wilson said. “But our little unit is the place where we do make people happy returning their money to them.”
To learn more and find out if you have unclaimed property in the state of Washington, visit claimyourcash.org.
Sponsored by Washington State Department of Revenue. Segment Producer Suzie Wiley. Watch New Day Northwest 11 AM weekdays on KING 5 and streaming live on KING5.com. Contact New Day.