New law will allow Pa. Treasury to automatically return unclaimed property to owners

Harrisburg, Pa. — The Pennsylvania Treasury is home to approximately $4.5 billion in unclaimed property such as abandoned stocks and bank accounts, uncashed checks, and unused safety deposit box contents. To return some of this property to rightful owners, the Pa. government has passed Act 81 of 2024 .

Act 81, which will take effect on Jan. 14, 2025, creates the new Pennsylvania Money Match program. Through this program, the Pa. Treasury is allowed to automatically return single-owner property valued up to $500. Prior to this, owners of unclaimed property were required to use an online database to find property and file a claim.

Before the Treasury returns property, it must perform a thorough identification and verification process. To date, at least 14 other states have successfully implemented similar programs.

Pennsylvania residents will still need to use the search and claim filing systems to collect properties valued above $500 or those that have multiple owners or other complex circumstances.