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Commonwealth releases new Unclaimed Property Program

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Richmond, Virginia — Governor Youngkin said the Virginia Department of Treasury’s Unclaimed Property Division New KAPS program and website To manage unclaimed property administration, reporting and billing. This new user-friendly Her website allows citizens to easily identify their unclaimed property and claim it faster.

“Commonwealth’s new website and system will streamline the claims process and enable the swift return of unclaimed funds to their rightful owners.” Governor Glenn Youngkin said:

Virginia’s consumer protection law requires businesses to surrender unclaimed property to the state, reducing corporate financial liability. Virginia holds unclaimed property in custody until the rightful owner or heirs file a claim. Unclaimed assets are dormant or inactive accounts such as securities and investments, bank accounts, unpaid wages, insurance claims and tangible assets.

The Treasury Department’s new KAPS program, available in more than 30 states, provides complete control over the entire unclaimed property process, from reporting to successful payment of claims to citizens. The new website creates claims instantly and allows claimants to securely upload documents from any smartphone or computer. It also has fast-track processing capabilities to expedite claims that can be quickly verified by the system. Outreach activities to inform Virginians about unclaimed property include annual newspaper inserts distributed throughout the Commonwealth, collaboration with organizations and media, Treasury Department websites, remote call events, and proactive mailings. there is.

“Our mission is to protect citizens’ property and return these assets to their rightful owners.” Treasury Secretary Steven Cummings said: “This public service is provided free to citizens and returns millions of dollars to citizens each year.”

Beware of unauthorized paid services and always work with the Department of Finance to claim unclaimed property through our website www.VaMoneySearch.gov. This website allows individuals to search the federal unclaimed property database and start the claim process immediately.

“One in four Virginians has unclaimed property, so I encourage all Virginians to search our free website for unclaimed property.” Virginia Treasury Secretary David Richardson said. “There is no deadline and no fees for claiming your property.”

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