Treasurer Garrity Urges Pennsylvanians to Take the Leap and Search for Unclaimed Property

In celebration of Leap Year, Treasurer Stacy Garrity announced today that more than $11.5 million is owed to people and businesses with a name that includes the words Leap, Year, February, Twenty, Nine, Calendar, Month, Day, Julius, Caesar, Pope and Gregory.

Leap years take place every four years, a practice that started with the Julian calendar under Julius Ceasar and was further refined in 1582 when Pope Gregory XIII established the Gregorian calendar.

“We all get to enjoy an extra day this year,” Treasurer Garrity said. “But I have some even better news: Many Pennsylvanians can also enjoy getting some extra cash they don’t know about! I’m encouraging all Pennsylvanians to spare a few moments on their ‘extra‘ day to take a leap and visit patreasury.gov/unclaimed-property to see if any of the $4.5 billion in unclaimed property we’re working to return belongs to you. Treasury receives unclaimed property regularly – so don’t wait four years to check!”

Unclaimed property includes things like dormant bank accounts, uncashed checks, forgotten stocks, insurance policies, and more. It can also be tangible property like the contents of abandoned safe deposit boxes. State law requires businesses to report unclaimed property to Treasury after three years of dormancy.

To keep property from becoming unclaimed property, Treasury recommends Pennsylvanians take the following steps:

  • Inform your financial institutions of any address changes;
  • Communicate with your financial institutions at least once every three years;
  • Keep up-to-date records of bank accounts, stocks, life insurance policies, safe deposit boxes, and other financial details;
  • Let a trusted family member or advisor know where you keep your financial records; and
  • Cash all checks as you receive them.

In total, Treasury is seeking the owners of more than $4.5 billion in unclaimed property. More than one in ten Pennsylvanians is owed unclaimed property, and the average claim is worth about $1,600.