State looks to return more than $600M in unclaimed property to South Dakotans

Published: Oct. 7, 2020 at 9:41 AM MDT
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PIERRE, S.D. (KEVN) - South Dakota’s Department of Treasury has an “Unclaimed Property Division.” Unclaimed property can be assets such as savings accounts, unpaid wages, and securities. When the unclaimed property is unattended for an extended period of time, it is turned over to the state.

Thus far, the Treasury has helped to give back over $800,000 to its rightful owners. Jordan Mason of Rapid City says the check was a nice surprise and bought him and his wife a nice day out.

“I got a letter in the mail it was pretty awesome. it actually paid for lunch and a nice drink, I remember that.” Mason said.

That letter in the mail was a part of a broader push to get more money out of the state’s hands and back into the hands of the people it belonged to.

“We identified 10,000 South Dakotans we were able to verify their identity and contact info and send them out funds that rightfully belonged to them that the state of South Dakota was holding,” said Treasury Secretary Josh Haeder.

Those funds meant even more with much economic uncertainty right now during the pandemic.

“I think the really neat part was people saying thank you for the $50, thank you for the $25, we didn’t know we had unclaimed funds and we appreciate the state actually being proactive in locating us.”

As of right now, South Dakota is only one of five states to have a program like this. Secretary Haeder is hoping to help expand the idea out to the other 45 states.

If you are interested in learning more about the “Cash It” Program, and how to see if you have unclaimed funds with South Dakota, click here.

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