Does the State of Minnesota owe you money? May be!
If you’re like me, you’re used to PAYING the State of Minnesota, through our State Income Tax. But, it turns out, the Minnesota Department of Commerce is committed to getting any money it might owe you, out of your pocket. Wait what?
This is all part of the unclaimed property division of the Minnesota Department of Commerce. And according to its website, one of the ministry’s goals is to return your unclaimed property to you.
The site says this includes things like bank accounts, contents of safes, salaries, insurance benefits, security deposits, stock dividends and other funds that go unclaimed for three. years or older. The site says they’ve already reunited Minnesotans with over $ 608,132,946 in unclaimed property!
So how would the State of Minnesota have money or property that you don’t know? Their website explains it like this:
People lose track of their money or financial assets because of a change of address, death, or because they inherited something they didn’t know. As part of our mission to protect consumers, the Department of Commerce is committed to reuniting the people of Minnesota with the money that has gone missing.
So WHAT sort of thing does the Unclaimed Property Division of the Minnesota Department of Commerce deal with? The site states that the property is considered unclaimed “if it is owned by a business or organization that has not had contact with the owner for a number of years”. Common types of unclaimed property can include:
- Dormant bank accounts
- Checks not cashed
- Unclaimed wages
- Insurance payments or benefits
- Stocks or bonds
So what should you do if you think you might have some money coming up? Start by CLICKING HERE to check with the Department of Commerce to find unclaimed goods in your name! (I just checked it out, and I didn’t have one – but maybe YOU will!)
And even if you don’t have any unclaimed property, you can still get the most out of your money by checking out some handy ways to keep your hard-earned money in your pocket. Keep scrolling for 25 ways to start saving money right now.