Comptroller Peter Franchot has announced that nearly 300 people discovered more than $300,000 in unclaimed funds after visiting his agency’s booth at the Maryland State Fair this summer. One visitor discovered an unexpected windfall of $71,516. Throughout the summer, Comptroller Franchot’s staff worked the unclaimed property booths at county fairs and the State Fair as part of an initiative to help reunite Marylanders with money they are owed. This year, more people found unclaimed property at a higher total dollar amount than at last year’s fair, possibly due to higher attendance. More than 1,400 people made inquiries at the unclaimed property booth at the fair in 2017.
“It’s our duty and pleasure to return unclaimed funds to their rightful owners,” Comptroller Franchot said. “Each day, we vigorously work to find the owners of the unclaimed property and to make sure they get what they are owed.”
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 booths at fairs and festivals, the Comptroller’s Office searches for owners of unclaimed funds by searching tax records and Motor Vehicle Administration files to try and locate property owners.
Franchot urges anyone who finds their name on the list to contact his office at 410-767-1700 (Central Maryland) or toll-free at 1-800-782-7383 to find out how to reclaim their lost property. Marylanders can also see if their name is on the list through www.marylandtaxes.com.