CFO Jimmy Patronis Streamlines Unclaimed Property Payments to Florida’s Local Governments
11/25/2020
TALLAHASSEE, Fla. – Today, Chief Financial Officer (CFO) Jimmy Patronis announced proactive efforts to return millions of dollars in unclaimed property to local governments throughout Florida. Made possible by legislative reforms championed by CFO Patronis in 2019, unclaimed property payments will be proactively disbursed to local governments without the need for public entities to search or claim the funds. Local entities receiving proactive payments include state and local government agencies, school districts, fire districts and more. Since taking office in 2017, CFO Patronis has returned more than $1.1 billion in unclaimed property.
CFO Jimmy Patronis said, “Last year, I was proud to advocate reforms to Florida’s unclaimed property system to more quickly return much of the $2.5 billion in unclaimed funds held by the state to its rightful owners, including unique local government entities. These proactive payments allow my office to proactively disperse unclaimed property payments without requiring the entity to file a claim, enabling us to more quickly return unclaimed funds to where they belong. While we are all coping with the effects of the COVID-19 pandemic, it’s vital that we work to provide our communities all the financial resources and relief possible. Please search NOW to see if you have unclaimed property at FLTreasureHunt.gov."
Unclaimed Property is a financial asset that is unknown or lost, or has been left inactive, unclaimed or abandoned by its owner. The most common types of unclaimed property are dormant bank accounts, unclaimed insurance proceeds, stocks, dividends, uncashed checks, deposits, credit balances and refunds. Unclaimed property also includes contents from abandoned safe deposit boxes in financial institutions. Unclaimed property assets are held by business or government entities (holders) for a set period of time, usually five years. If the holder is unable to locate, re-establish contact with the owner and return the asset, it is reported and remitted to the Florida Department of Financial Services, Division of Unclaimed Property.
To search for unclaimed property or to claim an account, go online to FLTreasureHunt.gov.
CFO Jimmy Patronis said, “Last year, I was proud to advocate reforms to Florida’s unclaimed property system to more quickly return much of the $2.5 billion in unclaimed funds held by the state to its rightful owners, including unique local government entities. These proactive payments allow my office to proactively disperse unclaimed property payments without requiring the entity to file a claim, enabling us to more quickly return unclaimed funds to where they belong. While we are all coping with the effects of the COVID-19 pandemic, it’s vital that we work to provide our communities all the financial resources and relief possible. Please search NOW to see if you have unclaimed property at FLTreasureHunt.gov."
Unclaimed Property is a financial asset that is unknown or lost, or has been left inactive, unclaimed or abandoned by its owner. The most common types of unclaimed property are dormant bank accounts, unclaimed insurance proceeds, stocks, dividends, uncashed checks, deposits, credit balances and refunds. Unclaimed property also includes contents from abandoned safe deposit boxes in financial institutions. Unclaimed property assets are held by business or government entities (holders) for a set period of time, usually five years. If the holder is unable to locate, re-establish contact with the owner and return the asset, it is reported and remitted to the Florida Department of Financial Services, Division of Unclaimed Property.
To search for unclaimed property or to claim an account, go online to FLTreasureHunt.gov.
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About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and X (@FLDFS).