Skip to main content

State has $600 million in unclaimed property, is some yours?

  • Author:
  • Updated:

Nearly 1 in 20 Minnesotans has more than $100 in unclaimed property being held by the State of Minnesota.

U.S. Sen. Amy Klobuchar, Prince, Sid Hartman and state Human Services Commissioner Lucinda Jesson are among the more than 50,000 people with property being held by the state Department of Commerce.

According to the Star Tribune, the lost and found has more than doubled since 2005 to $606 million. The stash includes things like dormant bank accounts, uncashed death benefits, untouched shares of stock, old utility deposits and even items from safe-deposit boxes, which companies are required to turn over to the state.

According to the department's own numbers, the unclaimed property unit has returned about 31-percent of the unclaimed property to its rightful owners.

Why is there only a 31 percent return rate on the missing property?

The Commerce's chief of staff and deputy commissioner, Emily Johnson-Piper, admits the department doesn't do a lot to find them.

"We don't, as a matter of normal course, go through a list of people that we have and try to find them," Johnson told the Star Tribune. "Presumably, people have already tried to find these people and they can't."

The state maintains a searchable website at where people can go to check to see if the state has any money or property belonging to them.

Those individuals then can file a free claim to reclaim their property.

Just last week, the department also encouraged Minnesotans to stop by their booth at the state fair for Unclaimed Property Day. Commerce Commissioner Mike Rothman says they are focusing their efforts on helping Minnesota consumers get the property and money that's rightfully theirs.

"Through proactive measures that assist business understand the importance of keeping good records of their customers to avoid having unclaimed property in the first place – to creating awareness of the program and reuniting missing money with their owners."

The Star Tribune also has put together a list of individuals and companies with property being held by the state.

So what does the state do with the rest of it?

According to the newspaper, the money goes directly into the state's general fund with no strings attached unless the rightful owners come forward to claim it.

Next Up

St. Cloud Times

St. Cloud Times writing staff hit by Gannett budget cuts

Mass layoffs were expected at Gannett-owned outlets across the country.


Pool company sued by AG for allegedly scamming homeowners out of $1M-plus

According to the lawsuit, 17 Minnesota homeowners were affected by this scam.


Late cancellation of music festival leaves bad blood in Two Harbors

The cancellation announcement says the promoter walked away from the gig after being harassed by some local residents.

Screen Shot 2022-08-12 at 1.58.08 PM

Fatal crash shuts down southbound I-35 north of Twin Cities

A massive backup has built in wake of the fatal crash.

Christopher Keyes

Prolific speeder charged in crash that killed woman, 75, in Plymouth

The man has seven speeding tickets dating back to 2019.

minneapolis police

Hunt for suspect who broke into apartment, fatally stabbed man

The homicide is the 57th to happen this year in the city.

minnesota state fair

How to save money at the Minnesota State Fair this year

The fair released its money-saving tips Thursday, including on parking, admission and entertainment.

Motel 6 Rochester

Threat of 'potential overdoses' among youths prompts Motel 6 raid

Rochester police says fentanyl pills were among the items seized.