The ins and outs of unclaimed property

TWIN FALLS, Idaho (KMVT/KSVT) — You could have money that belongs to you, and you do not even know about it.

The state treasurer is looking to raise awareness about unclaimed property in Idaho.

“It’s the lost and found for money that you have forgotten,” Idaho State Treasurer Julie Elsworth said.

Feb. 1 is Unclaimed Property Day, and the state of Idaho currently has more than $281 million that fall into that category, some of which might be yours.

But how does the state end up with all that money?

There are different types of unclaimed property that you can have without knowing or remembering, such as forgotten bank accounts, insurance claims and uncashed checks.

“Right now, we’re starting to see that a lot of the telephone contracts and think money that should go back to you is starting to come in,” Elsworth said.

Elsworth explained what happens when the state finds that money.

“I manage it and keep it safe basically to assure that it will be there, and I invest things so that it’s earning interest, but your claim will never expire.”

She said her office returned about $1 million dollars to people across the state last year.

“The largest single claim in 2024 was $241,000,” Elsworth stated.

She said it is straightforward to find any unclaimed cash you might have

“Learn this website, yourmoney.idaho.gov, go to that website and it will prompt you on what to do,“ Elsworth said. ”It tells you, you know, put in your name, and then it will search our database to see if there’s anything under your name, or if you’re a relative. If you’re a descendant of somebody.”

You can also search a national website for unclaimed property in other states.

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