Unclaimed Funds division unveils upgrades

VW independent staff/submitted information

COLUMBUS — Ohio’s Division of Unclaimed Funds has unveiled a new system designed to make it easier and potentially faster for Ohioans to search for and recover their portion of approximately $4.8 billion currently being safeguarded by the state of Ohio.

Unclaimed funds come from sources such as dormant bank accounts, uncashed checks, stocks and bonds, utility deposits, or unclaimed wages. Since unclaimed funds never expire, the Division safeguards them indefinitely until claimed. In 2024, the Division returned more than $149.6 million to Ohioans through 26,420 claims.

Accessible through the Division’s website, the system features a number of significant improvements both in efficiency and functionality to help return money back to its rightful owners. Ohioans who want to claim their lost or forgotten money are now able to search for unclaimed funds, upload required documents and track their claims status without having to leave the platform. This new system also offers greater communication with claimants about the status of their claim in the event items are missing that the Division needs to complete its review. To experience the enhanced functionality of this new system, visit com.ohio.gov/UnclaimedFunds.

The updates also allow business owners or holders (those who report unclaimed funds to the Division) to create and file their reports directly from the system instead of having to login to the Ohio Business Gateway. Businesses are able to upload their National Association of Unclaimed Property Administrators (NAUPA) file, create a manual report, remit funds, and even submit a negative report in just a few minutes.

Division Superintendent Akil Hardy said these upgrades are in response to feedback provided by consumers and businesses.

“This new system allows us to verify claimants’ information once it’s provided to us and, in some cases, automatically approve some claims, which means that more claimants could see faster payout,” Hardy explained. “It’s important to note that claimants will still need to submit their required documentation for us to process claims and our team will continue to review every document that is sent to our office. One of our primary goals in implementing this technology is to be more transparent by sharing where claims are in the process. We paid out $149 million last year to Ohioans and look forward to increasing that number with our new system.”

How to Search for and Claim Funds

Anyone who would like to search for unclaimed funds owed to them or their loved ones should complete the following three-step process:

• Search for unclaimed funds and generate a claim form by accessing the new system at com.ohio.gov/UnclaimedFunds.
• Review and gather the required documentation.
• Submit the claim form and any documents by mail or upload them directly through the system.

While claims are typically reviewed within a 120-day period, the Division anticipates this new system will provide for increased capability, allowing more claims to be reviewed. 

Protecting Against Scams

Ohioans are encouraged to always remain cautious of unsolicited calls or messages requesting personal information under the guise of unclaimed funds. If you receive an unsolicited call or text asking for personal information, the Division advises against engaging. However, it’s important to note the Division does register “finders” who assist with the recovery of unclaimed funds and can charge a fee of up to 10 percent of funds collected. If you are contacted by a finder, you should ask for their registration number and contact the Division to verify they are registered.