State holding millions in unclaimed funds

VW independent staff/submitted information

COLUMBUS – New data shows Van Wert County has just over $3 million in unclaimed funds that are currently being held by the Ohio Department of Commerce’s Division of Unclaimed Funds, a figure that puts the county 73^rd out of the state’s 88 counties.

Unclaimed funds are lost or forgotten money that businesses and banks report to the Division of Unclaimed Funds after accounts become inactive, typically between 3-5 years. The money comes from inactive checking and savings accounts, stocks and bonds, forgotten utility deposits, unknown insurance claims, or last paychecks. Overall, the Unclaimed Funds Division is holding on to approximately $4 billion.

The following is a list of the top 10 counties in northwest Ohio that have the most money currently being held by the Division of Unclaimed Funds and awaiting its rightful owners.

Top 10 counties in northwest Ohio by amount of unclaimed funds:

1.      Lucas (Ohio rank: 6) – $105 million

2.      Hancock (19) – $26.4 million

3.      Wood (23) – $19.1 million

4.      Allen (25) – $17.4 million

5.      Erie (30) – $14.8 million

6.      Huron (40) – $8.3 million

7.      Seneca (44) – $7 million

8.      Sandusky (45) – $6.7 million

9.      Ottawa (50) – $6.5 million

10.    Crawford (52) – $5.7 million

Top five counties in Ohio by amount of unclaimed funds:

1.      Cuyahoga – $477 million

2.      Franklin – $343.1 million

3.      Hamilton – $267.3 million

4.      Montgomery – $133.4 million

5.      Summit – $130 million

Residents can find and claim their unclaimed funds at anytime by searching for money at unclaimedfunds.ohio.gov, gathering the required supporting documents; and sending the information to the Division of Unclaimed Funds either online or by mail.