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$30 million of unclaimed property in Ada County

Posted: 9:30 AM, Aug 07, 2019
Updated: 2019-08-07 11:30:06-04
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ADA COUNTY — Almost $30 million in unclaimed money is waiting for thousands of current Ada County residents or individuals who worked or lived in Ada County to pick it up. The funds are from a variety of sources including dormant savings accounts, uncashed checks, life insurance payments, death benefits, utility deposits and escrow refunds.

Idaho Unclaimed Property receives money from corporations, business associations, utility and insurance companies and medical offices after there has been no customer contacted for an extended period of time. That time is usually around five years.

Ada County Board of Commissioners Chair Kendra Kenyon says it is important to check and make sure you and your loved ones are not leaving behind money that is yours.

“The Ada County Board of Commissioners encourages anyone who believes they may have unclaimed money to check out YourMoney.Idaho.gov . While the amounts vary, any funds owed to you is money you can use for individual or family expenses. Who doesn’t like to receive money they never knew was theirs, or had forgotten about? It happens to thousands of people each year," said Kenyon.

People often move, change their name, forget about a transaction or pass away. After time passed, those funds are considered unclaimed property. Since the unclaimed property law changed in 2012, Idaho's Unclaimed Property Division has responsibility of the money in perpetuity. There is not a fee for filing a claim or receiving payment.

“I am pleased the Ada County Board of Commissioners is sharing this message so broadly,” said Idaho State Treasurer Julie Ellsworth. “We want past and current Idaho residents to get the money that is owed them. The State Treasurer’s office works diligently to be a good steward of these funds, and making sure this message gets out to the widest audience possible is critically important to me.”

The money is owed to individuals in all six Ada County cities. There are more than 300 thousand individual listings.