COLUMBUS, Ohio (WKRC) – The Ohio Department of Commerce’s Division of Unclaimed Funds has launched a new system aimed at simplifying and expediting the process for Ohioans to claim their share of approximately $4.8 billion in unclaimed funds. These funds originate from sources such as dormant bank accounts, uncashed checks, stocks and bonds, utility deposits, or unclaimed wages. The Division safeguards these funds indefinitely until they are claimed.
In 2024, the Division returned over $149.6 million to Ohioans through 26,420 claims. The new system, accessible via the Division’s website, introduces significant improvements in efficiency and functionality, enabling users to search for unclaimed funds, upload necessary documents, and track their claims status all in one place. It also enhances communication with claimants regarding any missing items needed to complete the review process.
The system also benefits business owners or holders, allowing them to create and file reports directly, upload their National Association of Unclaimed Property Administrators (NAUPA) file, and remit funds efficiently. All businesses are required to report unclaimed funds to the Division, even if there are none to report, as per ORC 169.
How to Search for and Claim Funds
Individuals 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.
