Money Cash File Photo

File photo

SALEM, OR (KPTV) - Checks are going out to current and former Oregonians who have unclaimed money.

Around $5 million will be sent out by the Unclaimed Property Program starting in mid-October.

People will first receive letters informing them of the forthcoming checks, followed by a subsequent letter and check in early November.

The checks are funds that have been reported to the state by companies and organizations that do business with Oregonians and have been unable to return the money to the correct owners.

Examples include uncashed checks, forgotten bank accounts, security deposits, tax refunds, credit balances, investment accounts, payroll checks and refunds.

Checks will vary between $50 and $2,500.

Typically, people need to file a claim with the Unclaimed Property Program to receive the funds they are owed. However, state leaders decided this year, for the first time ever, to directly mail the funds to the correct owners.

The program holds more than $700 million in unclaimed funds for 3 million owners. To recover funds not distributed this fall, people can file a claim at unclaimed.oregon.gov.

Officials advise people who receive letters about the forthcoming checks to wait for the checks to arrive, as filing a claim may delay processing by 6 to 7 months.

For more, go to unclaimed.oregon.gov.

Copyright 2020 KPTV-KPDX Broadcasting Corporation. All rights reserved.

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(1) comment

cdmichaelb

Will they have the correct addresses?

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