Texas Comptroller Don Huffines is encouraging Texans to check the state’s unclaimed property database, with more than $12.5 billion currently waiting to be returned to its rightful owners.
The push comes as the agency begins an unprecedented modernization of the unclaimed property program, bringing artificial intelligence into the claims process for the first time, along with new software, to get money back to Texans faster.
“This money belongs to those who earned it, not the state,” Huffines said. “We’re pushing hard to reunite people with their money as quickly as possible, and I want every Texan to know how easy it is to check if they have funds waiting for them.”
Under Huffines’ direction, the agency has restructured the Unclaimed Property Division. Since Aug. 1, when he took office, this agency has processed 107,405 claims, a 40 percent increase over the same period last year. Additional details about the modernization effort will be announced in the coming weeks.
“Texans should not have to wait for money that is already theirs,” Huffines said. “For the first time in decades, we are cleaning out the garage, and this is just the start. We will have more to announce soon.”
Unclaimed property can include forgotten bank accounts, uncashed checks, utility deposits, insurance proceeds, payroll checks, and abandoned safe-deposit box contents. Texas law requires financial institutions and businesses to turn over inactive accounts after a set period so the Comptroller’s office can safeguard the funds until the rightful owner files a claim.
There is generally no statute of limitations for unclaimed property the state holds, which means there’s no time limit for owners to file a claim. Owners can do so at any time. For more information about the program, or to search for unclaimed property and begin the claims process, visit the Comptroller’s website, ClaimItTexas.gov, or call 800-321-2274 (CASH).