Comptroller Franchot Sends More Than $80K Home with Montgomery County Fair Attendees

Annapolis, Md. (August 21, 2012) – In addition to all of the fun attractions and great food, some lucky fairgoers received a windfall as staff for Comptroller Peter Franchot’s unclaimed property unit reunited individuals and families with lost money at this year’s Montgomery County Fair. Reinforcing his commitment to help Marylanders find their unclaimed property, Comptroller Franchot proudly announced today that nearly 130 people found more than $80,000 in unclaimed funds during the nine-day event.

“Ensuring Marylanders get the unclaimed funds they are owed is one of my favorite duties as Comptroller,” said Comptroller Franchot. “Currently, many families are facing difficult financial decisions and we are all living in uncertain times. So, I am delighted when I have the opportunity to tell an individual that my agency is holding unclaimed funds in his or her name.”

This year, a total of 740 people attending the Montgomery County Fair stopped by the Comptroller’s booth and searched for unclaimed property, with 132 discovering they had money in their name. The largest claim was $12,180. In total, fairgoers were reunited with $83,887 in unclaimed funds.

Financial institutions, utilities, insurance companies and other corporations are required to report to the Comptroller any bank accounts, security deposits, wages, insurance benefits and contents of safe deposit boxes that have been unclaimed after three years.

In addition to his booth at fairs and festivals, the Comptroller’s Office searches for owners of unclaimed funds by advertising in local newspapers and matching files with state income tax information, the Internal Revenue Service (IRS) and Maryland Department of Motor Vehicles.

“Everyday, we work vigorously to locate the owners of the unclaimed property and to make sure they get what they are owed,” continued Comptroller Franchot. “The opportunity to connect with people at the fairs throughout the state is just one of our methods of outreach.”

Staff from the Comptroller’s unclaimed property unit will travel to the following fairs and events within the next couple of months:
· Maryland State Fair, August 24 – September 3
· Prince George’s County Fair, September 6 – 9
· Anne Arundel County Fair, September 12 – 16
· Frederick County-Great Frederick Fair, September 14 – 22
· Senior Expo/ Baby Boomer Expo, October 10 – 11
· 50+ Expo, October 19

The Comptroller encourages everyone to log onto his Website, www.marylandtaxes.com, to search his entire database of unclaimed funds. The agency has more than 970,000 accounts, worth more than $985 million. Additionally, people can call the office at 410-767-1700 in Central Maryland or toll-free at 1-800-782-7383 from elsewhere.

MEDIA CONTACT: Caron Brace, (410) 260-7438 (office), (410) 212-9414 (cell)