If you’re headed to the N.C. State Fair don’t just spend your money on an ostrich smashburger and a ride on the Khaos. Try to get some of it back at the Department of State Treasurer (DST) Unclaimed Property Division (UPD) booth in the Kerr Scott Building.
UPD staff have been manning the booth since the fair opened, and State Treasurer Dale R. Folwell, CPA, has been dropping by to help return undeliverable money to the rightful owners that has been has secured at DST. From Thursday, Oct. 12, through Monday, Oct. 16, fairgoers with unclaimed property generated 85 claims totaling $36,260.30, or about $427 on average.
“The process is simple. You don’t have to knock over bowling pins with a softball, toss a basketball through a hoop or pop balloons with a dart. Just stop by the UPD booth to meet the friendly staff members and they will assist you on-site to search for your name in our database and determine immediately whether you are owed money. Staff will provide you with additional details on how to file a claim for your funds,” Treasurer Folwell said.
“Fall is a season of harvest, and it’s a great time to reap your rewards through UPD, commonly called NCCash.com,” Treasurer Folwell said. “While you’re at the UPD booth, search for your spouse’s name, maiden name, grandparents’ names, your Little League, Girl Scouts troop, civic organization or church.”
Under state law, money that has become undeliverable for a variety of reasons is escheated, or turned over, to UPD for safeguarding until the rightful owners claim it. The unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and contents of safe deposit boxes that have been abandoned.
NCCash.com is currently the custodian of nearly $1.09 billion in escheated funds, representing 17.7 million properties statewide. The money is awaiting return to the rightful owners after being lost, misdirected or overlooked. More than 19 million owners are associated with those properties. There are thousands of claims waiting to be made in all 100 counties statewide.
Unclaimed property can result from a person or entity forgetting they are due money, or from a move of location and forgetting to provide a new address. It also could result from a typing error in a house number or zip code in an address, a name change, or data loss from a business converting its computer system. As society becomes more mobile and steadily moves to electronic transactions, the risk of having unclaimed property has increased.
Media interested in a stand-up interview at the N.C. State Fair with Treasurer Folwell should contact the DST communications staff.