State treasurer highlights unclaimed property
Published 6:27 pm Friday, September 30, 2022
NC Cash is “not a gimmick,” said North Carolina State Treasurer Dale Folwell.
Folwell visited northeastern North Carolina last week.
He was the keynote speaker at the Halifax Community College 55th Annual Founders Day program.
He chaired the first ever, outside Raleigh meeting of the Local Government Commission at the 4-H Conference Center in Tyrrell County. Folwell also presented at the North Carolina Conference of Clerks of Superior Court gathering in Duck. This event was co-hosted by Currituck County Superior Court Clerk Ray Matusko and Dare County Superior Court Clerk Dean Tolson. Some 70 clerks attended the conference.
Folwell is serious about the $1.04 billion in North Carolina’s unclaimed property fund.
The treasurer’s website, nccash.com, describes the unclaimed property as “bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds, and contents of safe deposit boxes that typically have been abandoned for one to five years.
“Funds become unclaimed because the company loses track of the consumer, due to an incorrect address or other missing information.”
By law, the funds are sent to the Department of State Treasurer for safekeeping.
For the last fiscal year July 1, 202l, to June 30, 2022, money returned to people or organizations totaled $105,158,116.
The search on nccash.com is easy. Plug in a name, place and zip code and up pops information.
Folwell suggested Dare County Board of Education and other government agencies might have claims. Dare’s school board currently has 16 listings. Interim finance director Anna McGinnis said she is aware of the listings that total around $1,000. She’s working on claims to retrieve the money.
The money stays in the fund “forever,” said Folwell. And, “it’s free” to retrieve it. He cautioned folks with claims not to pay someone to retrieve the money. The state’s unclaimed property division doesn’t charge a person for making a claim. He also said that every state has such an unclaimed property fund.