KNOXVILLE, Tenn. (WATE) — A nice New Year’s surprise may be as easy as making a few clicks on your computer to the Tennessee Treasury Department. According to the department’s website, there’s over $1.2 billion of unclaimed property in the state. That may be your money and it doesn’t cost you a penny to get back.
The money may be a forgotten deposit from an insurance policy or a utility company overpayment made years ago. Regulated companies are legally required to report unclaimed property to the state.
Ken Adams is searching for unclaimed money. The retired business executive is not looking for his name but for his friends. Anyone can check the Tennessee Treasury Department’s “Find Your Missing Money” website.
“I do it because I want to find money friends of mine are due. I found money for people in seven states who are friends of mine. The most that I found was $4,500,” said Adams.
“But they have no office. You can’t go by make a claim and expect a check at that time. They tell you to call in and the recording says, ‘we don’t have checks at this office, there is nobody here to talk about your claim,’ you have to do it online,” said Adams.
Doing it online is pretty easy. Adams said anyone can check the state site for free.
“You go down here, it says find your missing money online, right here in the white. They’re going to ask you for a last name and that’s the one you have to have,” said Adams.
However, you don’t have to enter your first name. He doesn’t.
“Now it gives you everything in alphabetical order. It gives you the address the person was at at one time. It gives you the holder of who is sending you the money to the state of Tennessee. Then, it will tell you the amount and a property ID number,” said Adams
He said you’ll then be asked to send some form of identification, so you can receive the money.
“Then send it back to the state and the state will process it and send you your check,” said Adams.
Adams makes no money for himself, he said. It’s just for fun.
“I just love looking up anybody I possibly can and figure out a way to get them the money,” said Adams.
The National Association of Unclaimed Property Administrators makes it easy for people to check if they have unclaimed money in multiple states. They have a website where you can search participating state’s databases for unclaimed property. Remember, that service is free.