More Wisconsinites receiving unclaimed property as Dept. of Revenue receives award
MADISON, Wis. (WMTV) - After being named ‘Unclaimed Property State of the Year’ by the Unclaimed Property Professionals Organization (UPPO), the Wisconsin Department of Revenue (DOR) is seeing an uptick in claim submissions.
The department received the 2023 Members’ Choice State of the Year Award, a national award that recognizes state’s with property holder-friendly programs. According to UPPO, the Wis. DOR has a user-friendly website, accessibility to pertinent compliance information, and a commitment to engaging the holder community. The program also got coverage on Good Morning America’s America’s “Show Me the Money” series.
“We are honored to receive this award. It is certainly well deserved,” said DOR Secretary Peter Barca. “Our Technical Services and Tax Operations bureaus, and staff throughout our department place considerable time and effort into ensuring we do everything possible to get these abandoned assets into the hands of their rightful owners.”
Wis. DOR said with the recent exposure, it has seen an uptick in unclaimed property submissions, with nearly 1,300 submissions in the final week of June.
The DOR reminds users the search process is simple and one in seven taxpayers have unclaimed property waiting for them. Banks, credit unions, insurance companies and other holders of unclaimed property must report it to DOR each year by November 1.
“Pick a day every year to search,” DOR Secretary Barca said. " Maybe check every year on your birthday. Or if you know a friend or family member with a birthday coming up, check for their name. You may make their big day even better.”
Anyone can search the DOR’s unclaimed property database for themselves or family members. There is no cost to search or file a claim.
Copyright 2023 WBAY. All rights reserved.