State Revenue Department officials urge Montanans to check for abandoned assets

HELENA – The Montana Department of Revenue is holding about $128 million dollars that has yet to be claimed by citizens.

Montanans can search for abandoned money or other types of property. The fastest and easiest way to search is online at MissingMoney.com, a national database listing abandoned money in Montana and other states.

“We want to get this money back to the rightful owners," said Montana Department of Revenue Director Brendan Beatty in a statement. “I encourage everyone to take a few minutes to search MissingMoney.com.”

Nearly 33 million people in the United States – 1 in every 7 – have unclaimed property, usually financial accounts or items of value in which the owner has not initiated any activity for several years. When that happens, and the company cannot locate the owner, the money or properties are submitted to the state. Examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. In Montana, abandoned property is turned over to the Montana Department of Revenue to be claimed by its owner.

"The chance that you or someone you know having unclaimed property is 1 in 7," said Patti Wilson, unclaimed property administrator for the state of Washington and president of the National Association of Unclaimed Property Administrators. 

"[That is] much better odds than winning the lottery," she added. "While many people say 'I know where all my money is,' you would be surprised how many times they search their name and find they have money owing to them. Searching your name is free and only takes a few minutes at MissingMoney.com." 

In 2021, to increase awareness of unclaimed property, the National Association of Unclaimed Property Administrators launched the first National Unclaimed Property Day on Feb. 1. Each year, unclaimed property administrators encourage everyone to search MissingMoney.com to determine if a state is holding their property. Individuals are encouraged to search their name, a maiden or previous name, or the name of a business or nonprofit. Searches are free.

The association leads and facilitates collaboration among administrators, holders and the public in their efforts to reunite unclaimed property with its owner. More than $2.87 billion dollars nationwide in unclaimed property was returned to its rightful owners by state unclaimed property offices in 2023, according to the latest association annual report.