Ohio has $3 billion in unclaimed money you could be entitled to

As Ohioans struggle financially because of the pandemic, the state’s Department of Commerce has a way to help.

Akil Hardy, the superintendent for the agency’s Division of Unclaimed Funds said Ohio is holding on to $3 billion in forgotten money.

He spoke to News Center 7′s Molly Koweek ahead of the first ever National Unclaimed Property Day, which is Feb. 1. National Association of Unclaimed Property Administrators created the day.

“It is our mission and our duty to try to return this money to its rightful owner or the heirs’ of the rightful owner,” Hardy said.

He explained the money comes from a variety of places including old bank accounts, stocks, bonds, utility depots, last checks, and safe deposit box items.

Hardy said unclaimed funds could total as little as $25 but on average payouts are about $1,500.

He said to visit The Ohio Division of Unclaimed Funds’ website, found here, or at missingmoney.com.

People who claim money that has accrued more than $10 in interest are required to report it to the IRS.

Molly Koweek

I am excited to move to Ohio for some warmer weather. That might sound odd, but I've spent the last four years in central Wisconsin working for WAOW. I co-anchor News Center 7 Saturday. During the weekdays you can catch my reports on News Center 7 at Noon, 5:00, 5:30, and 6:00.