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Unclaimed money is coming to hundreds of Rogue Valley residents By Mail Tribune staff Updated: Jan 03, 2023 11:12 AM A A The Oregon Treasury Department will start sending out notification letters and checks to residents with unclaimed money. [Oregon Treasury Department file photo] The Oregon Treasury Department plans to start sending $10 million in unclaimed money to current and former Oregonians — including $64,000 to 223 people in the Medford area. Checks ranging from $50 to $10,000 will start arriving in February, the department said. The state’s proactive “Checks Without Claims” initiative returns money to people without them having to go through the regular process for unclaimed funds. Common examples of unclaimed funds include uncashed checks, forgotten bank accounts, tax refunds, credit balances, investment accounts, payroll checks and refunds, according to the state Treasury Department. “We’re excited to return millions of dollars in unclaimed funds to their rightful owners,” Oregon Treasurer Tobias Read said in a press release Tuesday. “In addition to collecting and safeguarding Oregonians’ unclaimed property, Treasury is committed to raising awareness across Oregon and offering easy, accessible ways for individuals to find and claim money owed to them.” With over $1 billion in unclaimed funds currently held by the state, “Checks Without Claims” is one way to reconnect more Oregonians with their unclaimed money and property. Payments distributed through “Checks Without Claims” represent unclaimed property reported to the state in 2018, 2019 and 2020 by various businesses and organizations that were unable to return funds to the rightful owner, according to the Treasury Department. Checks will go out in three phases in February, April and June, the department said. Individuals identified as the owner of unclaimed funds currently held by Oregon’s Unclaimed Property Program will be notified via letter from the state’s treasurer a month prior to payment if they are part of the “Checks Without Claims” initiative. Payments, via check, will be mailed to individuals and accompanied by an additional confirmation letter from the treasurer, the department said. Typically, individuals need to file a claim with the Unclaimed Property Program and complete the verification process to receive the funds they are owed. The treasury department conducts “Checks Without Claims” to proactively verify some owners of unclaimed assets and facilitate payments directly to them. The effort excludes payments to owners of more challenging claims such as safety deposit boxes, securities or co-owned property, the department said. To recover funds that were not distributed as part of “Checks Without Claims,” individuals can search for an unclaimed asset and file a claim at unclaimed.oregon.gov . The process is free. The Unclaimed Property Program advises people who receive letters about the forthcoming checks to wait for the checks to arrive rather than submitting a claim online, as filing a claim may delay receipt of payment. Over the years, the state has returned more than $501 million in unclaimed funds to current and former Oregon residents. The Oregon State Treasury holds unclaimed property in the Common School Fund until it’s claimed by its rightful owners. The department said it invests the funds to earn interest that is then distributed to schools across the state. In 2022, the State Land Board distributed $64.2 million to Oregon public schools. More information about “Checks Without Claims” is available online at unclaimed.oregon.gov/app/checks-without-claims . Questions about unclaimed funds or “Checks Without Claims” can be directed to the state’s Unclaimed Property Program via email at [email protected] or phone at 503-378-4000. If you receive a check for someone who no longer lives at your address, give the check to the person or contact the Unclaimed Property Program. The check is the property of the intended recipient, state officials said.