The Edmond Sun

Local News

October 28, 2011

Unclaimed property reporting goes online

OKLAHOMA CITY — This week, businesses holding unclaimed property for Oklahomans are for the first time reporting the information via the internet through the state treasurer’s web site, State Treasurer Ken Miller announced Friday.

Prior to the addition of online reporting, businesses were required to submit their lists of unclaimed property owners using computer diskettes and paper.

Treasurer Miller said the new service increases efficiency. “Our online portal for unclaimed property holders makes it easier for Oklahoma businesses to file their reports,” he said. “It also improves accuracy and saves time and trouble for everyone involved.”

Oklahoma is the ninth state to implement online unclaimed property reporting. To get started, state businesses can click on the “Businesses Report Unclaimed Property” button on the treasurer’s homepage, www.treasurer.ok.gov.

Last year, more than 9,200 businesses reported unclaimed property to the treasurer’s office. They submitted more than $40 million for almost 214,000 Oklahomans. Most businesses are required to file by Nov. 1 of each year.

The treasurer’s office is holding $350 million for 600,000 Oklahomans. The cash and property are turned over to the treasurer’s office when the businesses holding them lose track of the owners. The names are published in state newspapers and are made available on an online search engine at www.treasurer.ok.gov.

In the past year, more than 12,000 Oklahomans were reunited with more than $19 million.

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