Wyo Treasurer Gives Back over $10 million

The Unclaimed Property Division of the Wyoming State Treasurer’s Office shattered the previous record for most money returned in a fiscal year, returning $10.64 million to citizens and former citizens of the State.

     The $10,641,765.47 paid via 9,342 checks issued over the 2022-2023 fiscal year represents a 31.8 percent increase over the previous record of $8.072 million paid in FY 2021-22. At the other end of the spectrum, a record $16.28 million was paid to the state during the same timeframe – a 26.6 percent increase over the $12.86 million reported one year prior.

     “Our Unclaimed Property Fund keeps getting bigger and bigger, no matter how much money we return to its rightful owners,” Wyoming State Treasurer Curt Meier said. “To me that’s really eye-opening when you consider our payments to citizens of the Cowboy State are up more than 30 percent from the previous record.”

     There were a number of highlights from the past fiscal year:

• The largest payment was for $742,993.60 – topping the previous record for largest check issued

• $10.64 million in cash payments, compared to previous high of $8.07 million

• The State paid more in FY23 than the $10.39 million it received during the first five years of the program’s existence after enacted in 1993

• 192 checks valued at $10,000 or greater, including 12 over $100,000

• 9,342 checks issued, compared to previous record of 8,062 issued in FY20

• $16.28 million paid to the State, compared to last year’s $12.86 million record amount

• More than $104 million remains in the State’s Unclaimed Property Fund

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     Those wanting to see if they are owed any of the properties held by the State are encouraged to watch the 2-minute instructional video at http://www.mycash.wyo.gov before searching the online database.

     “With so much new money getting added every year, we encourage residents and businesses to check our system every year or two to see if we are holding onto any of their money, securities or safe deposit box contents,” Meier said. “It is estimated that about 10 percent of the country’s population is entitled to unclaimed property totaling $20 billion.” 

     Unclaimed property is turned over when a business, agency or governmental entity owes money, securities and/or the contents of a safe deposit box, among other items, to someone and for whatever reason cannot locate the owner for a specified duration of time. The property typically is turned over to the state of last known address. If there was no last known address, it is turned over to the state in which the business was incorporated. 

     Taking this into account, those who have lived in another state may want to visit http://www.missingmoney.com and see if they are owed unclaimed property through any other state.  

     To make a valid claim at http://www.mycash.wyo.gov or any other state’s site, owners will need to provide information about themselves and may need to submit official documents. This could be as simple as a copy of a driver’s license, but additional documents may be required for those claiming as an heir or a closed/dissolved business.

     Wyoming law requires the State to hold unclaimed property in perpetuity until it is claimed by the rightful owner.