Does Massachusetts owe you money? What to know about the unclaimed property database
Massachusetts, like most other states, has collected millions (or billions) of dollars in unclaimed property. Through a public records request, the Massachusetts newspapers within the USA Today Network have created a database of the property held by the Unclaimed Property Division.
The property includes unclaimed cash and assets from businesses, banks, landlords, safe deposit boxes and utility companies. The Treasurer's office says it has more than $3.4 billion in unclaimed money and releases a new list of names every six months. One in 10 Massachusetts residents are owed money.
In the past five years, the Unclaimed Property Division has returned more than $735,848,000.
To discover if you have unclaimed money or property, you can search our database here: Massachusetts Unclaimed Funds
If you are a subscriber to one of our sister sites, access those databases here: Wicked Local, Cape Cod Times, MetroWest Daily News, Milford Daily News, The Gardner News, Quincy Patriot Ledger, New Bedford Standard Times/SouthcoastToday.com, Taunton Gazette, Brockton Enterprise, and Fall River Herald.
How much does it cost to get your unclaimed property back?
It is free. There are people who can help you claim the property for a fee, but you can get 100% of your property for free by contacting the Unclaimed Property Division online at its website or by calling 888-344-MASS(6277).
There are people who work as "heir finders." These people work to connect people with their unclaimed property. In Massachusetts, heir finders must register with the state every three years. The total fees will be limited to 10% of the reported amount and the state does not allow additional fees (legal, filing etc.) to be charged to claimants.
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How to submit your claim for unclaimed property
If you find a piece of property that you believe is yours, you must submit a "claim" via the state's website. You will need to provide your address and your relationship to the property owner, such as self, heir or representative. These steps generate the official claim and generate a claim number.
The state will outline what you need for your claim as part of that process. But most claims require a signed and completed claim form, as well as a copy of a photo ID and a legal document that includes a Social Security number. You will upload the documents via the state's secure link or mail documents to:
Office of the State TreasurerUnclaimed Property DivisionOne Ashburton Place, 12th FloorBoston, MA 02108
When does property become "unclaimed property"?
Massachusetts state law requires businesses to review their books and records every year to determine what might be considered “dormant.”
Dormant property becomes unclaimed property and must be reported.
Searchable Database:Massachusetts Unclaimed Funds
Unclaimed Property scams and frauds
In the past few years, there have been an increasing number of text and phone call scams. The Treasurer's office has had reports of people receiving "fraudulent text messages that appear to notify people that they have unclaimed property and asks them to click a link."
The Massachusetts Unclaimed Property Division announced that it never uses text messages to communicate with the public.
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What other types of unclaimed property databases are there?
Every state is required to have a law regulating how to collect and return unclaimed property, but the process differs by state. Each state also has a different process for how the owner must identify themselves. The federal government also keeps a database for unclaimed federal tax returns, unpaid pensions or wages, and Veterans Affairs Life Insurance payments and more.
This article originally appeared on USA TODAY NETWORK: MA Unclaimed Money and Property database: What you need to know
