Wisconsin law requires that business and other organizations report unclaimed property to the State of Wisconsin. In 2013, the State has already returned almost $20 million in unclaimed property to the rightful owners.
Businesses and other organizations are required to report unclaimed money that has remained unclaimed by the owner for more than five years. Once the State has custody of the unclaimed property, the state assumes responsibility for safekeeping of the property. Examples of unclaimed property can include the contents of safety deposit boxes and uncashed checks. For more information on business reporting requirements, please contact our office.
To search your name in the Wisconsin unclaimed property database, visit https://statetreasury.wisconsin.gov/UCPWeb/ucpsearch.aspx. Additionally, it is good practice for the personal representative of an estate to search the name of the decedent to find out if there are any assets includable in the estate.