If you're like me, you're used to PAYING the state of Minnesota, courtesy of our state income tax. But, as it turns out, the Minnesota Department of Commerce is committed to get any money it might owe you, back in your pocket. Wait, what?
It's all part of the Minnesota Department of Commerce's Unclaimed Property Division. And according to its website, one of the department's goals is to get your unclaimed property back to you.
The site says this includes items like bank accounts, contents of safe deposit boxes, wages, insurance benefits, security deposits, stock dividends and other funds that remain unclaimed for three years or more. The site says they've already reunited Minnesotans with over $608,132,946 dollars in unclaimed property!
So how would the state of Minnesota have money or property of yours that you don't know about? Their website explains it like this:
People lose track of their money or financial property because of a change of address, a death, or because they inherited something they didn't know about. As part of our mission to protect consumers, the Department of Commerce is committed to reuniting Minnesotans with money that has gone missing.
So just WHAT kind of thing does the Minnesota Department of Commerce Unclaimed Property Division deal with? The site says property is considered unclaimed 'if it is being held by a business or organization that has not had contact with the owner for a specific number of years.' Common types of unclaimed property can include:
- Dormant bank accounts
- Uncashed checks
- Unclaimed wages
- Insurance claim payments or benefits
- Stocks or bonds
- Safe deposit boxes
So what should you do if you think you could have some money coming your way? Start by CLICKING HERE to check with the Department of Commerce to find any unclaimed property in your name! (I just checked, and I didn't have any-- but maybe YOU will!)
And even if you don't have any unclaimed property, you can still make the most of your money by checking some handy ways to keep your hard-earned cash in your pocket. Keep scrolling to check out 25 ways to start saving money right now.