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SD treasurer reports $125M in unclaimed property receipts for ’13

PIERRE — State Treasurer Rich Sattgast released the state’s November unclaimed property receipts for the year, showing the state received $125 million in unclaimed property, far exceeding last year’s estimate of $52 million.

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“This dollar amount is double what we had estimated based on what our holders were telling us,” Sattgast said. “Two large holders were very optimistic in their ability to perform their due diligence in contacting the owners of accounts that had gone stale, but since they were unable to make contact, those accounts are now turned over to my office.”

Unclaimed property refers to accounts in financial institutions, businesses and government agencies that have had no activity for one year or longer. Common forms of unclaimed property include bank accounts, life insurance policies, utility overpayments or product rebates.

Sattgast encourages all state residents to check the Unclaimed Property website at www.sdtreasurer.gov or call toll free in South Dakota at 1-866-357-2547.

-Source: S.D. Treasurer's Office

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