Pennsylvania Treasurer Stacy Garrity recently announced a push to return unclaimed property to residents.
The state’s treasurer confirmed that more than 107,000 letters are being sent to residents who are due money through the state’s new Pennsylvania Money Match program.
The notices signal the start of an automatic payout process.
Garrity said changes will streamline the return of forgotten assets to their rightful owners.
“This is the best kind of mail to send, and I’m thrilled to let Pennsylvanians know that money is coming their way – these letters are real and the checks that will follow are real,” said Garrity, a Republican who is also running for governor. “We’re well on our way to returning more than $40 million with Money Match during this first year of the program because this money doesn’t belong to the state, it belongs back in the hands of rightful owners, and Treasury is working nonstop to get the job done.”
According to the treasury, the first batch of checks resulting from these letters is expected to be mailed out to owners in mid-December.
The Pennsylvania Money Match program, which was signed into law by Democratic Gov. Josh Shapiro as Act 81 of 2024. It authorizes the Pennsylvania Treasury Department to automatically return certain single-owner unclaimed properties. The automated return process applies to claims valued up to $500.
Claims that exceed $500, involve multiple owners, or have other complex requirements will still necessitate a traditional claim process where owners must search, file a claim, and provide all necessary supporting documentation.
The state currently safeguards more than $5 billion in unclaimed property, with the average value of a single claim exceeding $1,000.
Treasury data shows that more than one in ten Pennsylvania residents is owed some of this property.
Unclaimed property includes forgotten assets such as dormant bank accounts, uncashed checks, forgotten stocks, insurance policies, and tangible property like the contents of abandoned safe deposit boxes.
Residents who wish to search for unclaimed property can visit the state treasury’s website at patreasury.gov/unclaimed-property.
The treasury has advised that anyone who believes they have received a Money Match letter in error can reach out to the department directly at MoneyMatch@patreasury.gov.
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