Ohio is one of the larger states in terms of their unclaimed money totals. At last check, Feb 2018, the state was holding more than $2.6 billion in cash and property. According to a report, the state returned nearly $100 million in fiscal year ’17. The state has been steadily increasing the amount it returns annually by close to 20 percent. Over 60,000 claims were paid out with the average amount more than $1500. However, the total continues to grow with over $250 million being added that same fiscal year.
How To Claim Unclaimed Property in Ohio
Ohio doesn’t offer a searchable database on their website, instead they choose to use MissingMoney.com. Several other states use this service and it is a great way to search multiple states all in one place. Simply put in your name and the results will populate right away. Be sure to use our search strategies to ensure you are seeing all of your matches. The results include the name and last address the claim was reported under as well as who reported it. It also indicates whether the amount is over or under $100.
After locating your unclaimed property, click Claim and then you can view the claim in your cart. Ohio doesn’t allow digital submissions, but it does allow you to fill out some basic information so when you download the claim form all of that info is already on the form. You have the choice of having the form emailed to you, or mailed. If you can print the form, our suggestion is to download it and print it to expedite the claim process. You will need proof of who you are, usually a government ID. If you are claiming for a deceased loved one you will need proof that you are legally able to claim. For claims over $1000 or to claim a safe deposit box you will need to get the form notarized. Once submitted it can take up to 120 days to receive your money. Be sure to follow the instructions or it can take much longer!
Speaking of safe deposit boxes, the state of Ohio’s unclaimed property division takes is millions of dollars in tangible property in addition to abandoned cash. Recently, it has ramped up its unclaimed property auctions to make room for all of the new property it receives. In 2017 it held three auctions after not having any since 1998. Those auctions sold $1.15 million worth of items deemed unclaimed by the state of Ohio. All proceeds from these auctions are held as unclaimed money for the original property owners until they claim them.