Treasurer Tobias Read announced Tuesday that unclaimed funds worth nearly $10 million are set to be returned to their rightful owners. In the upcoming months, a few million Americans can claim direct payments.
The funds will come from the “Checks without Claims” initiative of the Treasury Office. The program aimed to connect forgotten funds to their rightful owners.
Treasurer Read said that they are excited to return the millions of dollars to their owners.
HOW MUCH CAN BE CLAIMED
Residents of Oregon can claim checks worth $50 to $10,000.
Notifications will be sent via letter to the people who are rightful owners of the unclaimed funds.
An amount of $153,000 in Eugene will be sent to 372 people.
The unclaimed funds under the care of the Treasury are still worth $ 1 billion, but as of now the funds to be returned for the owners in only worth $ 10 million.
WHEN WILL YOU GET THE CHECK?
The Treasury will start to return the unclaimed funds in February for those funds that were reported to the state in 2018.
Verified owners of the unclaimed funds reported in 2019 will be given checks this upcoming April.
The unclaimed funds reported to the state in 2020 will receive the final disbursement in June.
MORE REFUND CHECKS
California is also giving out refund checks aside from Oregon.
More tax rebates are expected to be received by Californians in the New Year. This is part of the Middle-Class Tax Refund (MTCR).
Based on the data from December 16, nearly 15 million MTCR payments out of 18 million have been issued. The recipients received it through direct deposit or by debit card.