Unclaimed property initiative: You may receive a check or letter from the state soon

MADISON -- The Wisconsin Department of Revenue is celebrating the one-year anniversary of its unclaimed property matching program, which uses the agency's tax records to proactively locate owners of unclaimed property.

According to a release from the DOR, the agency launched the initiative on June 11th, 2015, and returned more than $11.6 million related to 96,748 claims in just three months.

A total of $38.7 million in unclaimed property was returned in 2015.  In March 2016, the agency returned another $13 million through its unclaimed property matching initiative, according to the DOR.

Starting Monday, June 20th, the agency will send another 13,972 unclaimed property checks worth $1.5 million, and 349 letters for properties worth more than $2,000 each, for a total value of $4.2 million.

Owners across the state will begin to see these checks or letters in their mailbox soon.

DOR officials say you'll automatically receive a check if the unclaimed property value is $2,000 or less.

If the unclaimed property value is more than $2,000, you'll receive a letter with instructions on how to claim the property.

Unclaimed property includes funds from savings or checking accounts, uncashed dividends, insurance policies, or other accounts that the owner may have forgotten.  Institutions such as banks, credit unions, insurance companies, and other businesses are required to report unclaimed property to the Department each year by November 1st.

The DOR then holds the property for safe keeping until it is claimed by the owner.

CLICK HERE to learn more about the DOR's unclaimed property program, or to see whether you're owed money.