Reporting Tim Williams
BALTIMORE (WJZ) — The state of Maryland is holding hundreds of thousands of dollars and some of it could be yours.
Tim Williams has more on how you can claim property or cash that may have been forgotten.
It’s a Maryland state surplus that lawmakers are not allowed to spend—hundreds of thousands of dollars that could be yours, if the price and information are right.
“We’re holding almost a billion dollars in money for Maryland citizens and we’re interested in reuniting them with their own money,” said State Comptroller Peter Franchot.
The Maryland State Comptroller’s office oversees the unclaimed property program. Financial institutions are required by law to turn over any unclaimed money and property in safe deposit boxes.
“And we will hold it and return it to the rightful owner where we can find them,” Franchot said.
The process is simple and only requires submitting your information via two websites. The first is www.missingmoney.com and the second is https://interactive.marylandtaxes.com/individuals/unclaim/default.aspx. Both will ask for information that could verify you as the owner of missing or forgotten assets.
The comptroller says new accounts are added all the time, making the odds better for claiming this cash than hitting the lottery.
“You have a chance of being hit by lightning two or three times in the same day. That’s the equivalent of hitting the lottery. This, you don’t have to buy a ticket. Just go on the site and check it out. I bet you’re going to find somebody you know whom we owe money to,” Franchot said.
The money is tax-free, once they get it.