Ohio Unclaimed Property and Funds

What Is Unclaimed Property in Ohio?

Unclaimed Property is money owed to people and companies that gets turned over to Ohio when companies can't find people to pay it back. For example, if you move and you don't tell your utility company your new address, they don't know where to send your refund check. In this case they would turn the money over to Ohio as Unclaimed Property. Ohio would then hold it until you come and claim it. Some states take the money after a certain number of years, while some hold unclaimed funds indefinitely.

Here's the important thing - you could have free money waiting for you!

How Much Unclaimed Property Is Ohio Holding?

Total Unclaimed Funds

Three Billion Dollars

News Herald, March 2022

State Population

11,689,100

according to the 2020 census

Average Claim Size

$1,280 to $2,560

per claim, if 1 in 5 to 1 in 10 residents have unclaimed assets

Claims Per Year

Seventy Five Million dollars

According this recent article

According to this March 2022 News Herald article, the State of Ohio is holding over Three Billion Dollars in unclaimed funds.

Over Eleven Million people live in Ohio, so that means Ohio is holding over $256 per resident! Not every resident has unclaimed funds, so that means the average claim is much higher. Usually 1 in 5 to 1 in 10 people have unclaimed assets waiting for them, which would make Ohio's average claim between $1,280 and $2,560.

How Much Money Does Ohio Give Out Each Year?

In just 2021, Ohio returned an astounding Seventy Five Million dollars to people with unclaimed money and property.

What Are Some Common Examples of Unclaimed Property?

Some common examples of unclaimed propert include:.

  • Checking or savings accounts
  • Stocks
  • Uncashed dividends or payroll checks
  • Refunds
  • Utility security deposits
  • Contents of safe deposit boxes
  • Customer overpayments

Many times people forget they have accounts open with companies, or move companies that owe them money can't find their new address. For exampe, electric companies, natural gas companies, phone companies, and others often owe people money when they move, but can't find the person's new address to send them a check. After a certain time period the company must turn that money over the the state, and the state holds it until the owner comes to claim it. Approximately 1 out of every 10 people in the US have unclaimed money waiting for them, they just have to claim it.

How Do I Claim Ohio Unclaimed Property?

You can search for and and claim unclaimed assets on the Ohio's official webste.

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