This state’s residents may claim part of $4 billion — here’s how to apply before funds are used

Ohio residents may have money waiting for them that they forgot about, according to the Ohio Department of Commerce’s Division of Unclaimed Funds. The state of Ohio is holding almost $4 billion in unclaimed money that people can still claim. In 2024, Ohio returned $61 million to 112,805 people who filed claims, officials said.

In 2023, the state paid back $110 million to 68,879 claimants, showing many people successfully got their money, as stated by Daily Express. Unclaimed money is not only an Ohio issue, as other states are also holding large amounts of forgotten funds. Pennsylvania recently told residents to check for unclaimed checks, with the average amount close to $1,000. Texas has said it is holding around $10 billion in unclaimed property.

Unclaimed money in other states

New York has also sent out unclaimed money, with some checks reaching up to $250, officials said.In Ohio, leaders are talking about using old unclaimed money for public work if no one takes it in time. A new plan says that money not claimed for over 10 years could be used for things like culture, sports, and even a new Cleveland Browns stadium. This means people should check and claim their money soon, or it may be gone.


Unclaimed money is cash that belongs to people but was never taken. This often happens when people move away or forget about it. This money usually comes from bank accounts or companies that have had no activity for 3 to 5 years, as per Daily Express. Examples include old bank accounts, uncashed checks, utility deposits, insurance money, stocks, bonds, or final paychecks.

How to check and claim money

Ohio residents can check if they have money waiting by visiting unclaimedfunds.ohio.gov. If your name appears, you must file a claim to get the money back. The claim process may require an ID, proof of address, Social Security number, or a W-9 form. After submitting a claim, residents can track its status on the same website.

The state says people should allow up to 120 days for their claim to be processed. Last year, Ohio lawmakers moved $1.7 billion from unclaimed funds into an account for sports and cultural projects. This included $600 million set aside for a new domed Cleveland Browns stadium in Brook Park, as noted by Daily Express. In early January, a state court paused this plan while it decides if Ohio can keep unclaimed money forever.

Critics say the money still belongs to Ohio residents and should not be taken by the government. Lawyers Marc Dann and Jeff Crossman from DannLaw are representing residents in the case. The lawyers argue the state did not do enough to tell people that this money belonged to them. Because of this legal fight, experts say Ohio residents should check for unclaimed money as soon as possible.

FAQs

Q1. How can Ohio residents check for unclaimed money?

Ohio residents can search their name on unclaimedfunds.ohio.gov and file a claim online if money is found.

Q2. Why should people claim unclaimed funds soon in Ohio?

Lawmakers may use old unclaimed money for public projects, so waiting too long could risk losing it.