If you’re like me, you’re used to paying the state of Minnesota thanks to our state income tax. But as it turns out, the Minnesota Department of Commerce has an obligation to put any funds it owes 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 website says this includes items like bank accounts, contents of safes, wages, insurance benefits, security deposits, stock dividends, and other funds that are undrawn for three years or more. The website says they already reunited the Minnesotans with over $ 608,132,946 in unclaimed property!
So how is the state of Minnesota supposed to have your money or property that you don’t know about? Their website explains it this way:
People lose track of their money or assets 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 working to reunite Minnesotans with lost money.
So WHAT is the Minnesota Department of Commerce’s unclaimed property doing? The website says that property is considered unclaimed “when it is owned by a company or organization that has not had contact with the owner for a certain number of years”. Common types of unclaimed property can include:
- Dormant bank accounts
- Checks not cashed
- Unclaimed wage
- Payments or benefits for insurance claims
- Stocks or bonds
So what should you do if you think you might be getting some cash? Start by CLICKING HERE to check with the Department of Commerce to see if you can find unclaimed property in your name! (I just checked and I didn’t have one – but maybe YOU will!)
And even if you don’t have unclaimed property, you can still get the most of your money by trying some handy ways to keep your hard-earned cash in your pocket. Keep scrolling and check out 25 ways to save money instantly.
Hear Curt St. John in the morning
on workdays from 6 a.m. to 10 a.m. on Quick Land 96.5