Oregonians to receive $5M from Unclaimed Property Program
If you receive a letter in October stating you will receive a check from the state of Oregon in November, don't throw it out — it's not a scam.
Beginning this week, qualifying current and former Oregonians will begin receiving notifications from the state that they will be mailed checks in November ranging from between $50 and $2,500.
The funds are part of a historic distribution of unclaimed funds through the unclaimed property program, which is disbursing approximately $5 million this fall.
The checks are funds — referred to as unclaimed property — 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 owner.
Common examples of unclaimed property include uncashed checks, forgotten bank accounts, security deposits, tax refunds, credit balances, investment accounts, payroll checks, refunds and more.
Typically, people need to file a claim with the unclaimed property program to receive the funds they are owed. However, given the unprecedented financial uncertainties and difficulties many are facing, the state has determined, for the first time ever, the funds will be directly mailed to the correct owner.
The unclaimed property program holds more than $700 million in unclaimed funds for 3 million owners.
To recover funds not distributed this fall, property owners can file a claim at unclaimed.oregon.gov.
The Unclaimed Property Program advises 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.
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