Despite the size of Maryland it is one of the states that holds over $1 billion. The state has 1.3 million accounts worth more than $1.6 billion in cash and property. According to a report, in fiscal year 2018, Maryland returned over $68 million to 43,883 current and former residents who were owed money. That’s an average of $1550 per claim. Maryland is an interesting state in that it does a decent job of outreach, but the claim and searching process is a bit cumbersome.
Maryland’s website does offer a searchable database, but it is not interactive like other states offer. Once you put in your name it shows a list of results. These results show a claim number, last name, first name, and address. They don’t offer dollar amount ranges or who submitted the property to the state.
To claim this property you must download this form. Using the claim number you found in the search results, fill out the form with all the pertinent information and mail it to the state. You also must provide proof of ownership/address/name change to name a few. The website does not specify what those forms should be, but we assume a government issued ID is required. Those with multiple claims must fill out a different form for each claim.
Maryland does share their database with MissingMoney.com, but that does not help expedite the claim process. If you search on that site, once you click claim it will redirect you to the Maryland website to search there or download the claim form to be filled out.
Maryland Unclaimed Property Outreach
Maryland does outreach in several ways to raise awareness of unclaimed money and unclaimed property. The office does regular outreach at local community events and state fairs. In fact, according to a recent article, in the 2019 Maryland state fair, the unclaimed money department found claims for 259 people for a total of over $271,000 including one claim over $71k. The office also sends out postcards periodically to claim owners. Be careful of scams however, your postcard should look like this.
In May 2019 state treasurer Peter Franchot created a video using the popular HGTV show as a guide, it playfully describes a story of one of the ‘twin’ brothers finding an old bank statement while remodeling a house. After finding it, he shares this information with his ‘brother’ who reaches out to the bank who provides the name of the account holder. Franchot then tracks down this individual to inform him of the six figure bank account in his late fathers name.
The state also has ongoing auctions on eBay for all of its unclaimed property. These items vary, but are usually jewelry, currency, and sports memorabilia. Basically items you would find in abandoned safe deposit boxes.
Phone: In Maryland: 410-767-1700
Toll Free: 800-782-7383
Unclaimed Property Auctions
General Holder Reporting