This holiday season, thousands of Vermonters could find a surprise gift in their mailbox — money they didn’t even know was theirs.
Through the newly launched MoneyBack program, the state plans to return nearly $1.3 million in unclaimed property to more than 5,000 residents, using Tax Department data to verify their identities and addresses.
Unclaimed property refers to financial assets — such as forgotten bank accounts, uncashed checks, unused gift cards and other financial property — that have been turned over to the state for safekeeping until claimed by their rightful owner.
“While the MoneyBack program focuses on reuniting Vermonters with financial assets, the broader unclaimed property database includes a variety of items,” David Kunin, a spokesperson for the treasurer’s office, said in an email. “Occasionally, the Treasurer’s Office comes across more unique cases, such as family heirlooms or items from safe deposit boxes.”
Residents who want to check if they have unclaimed property can visit missingmoney.com.
Vermonters eligible for the MoneyBack program can expect payouts ranging from $100 to $500. The state plans to notify recipients with a letter providing the exact amount they’re set to receive. Just a few days after receiving the letter, a check for the unclaimed property will arrive in the mail.
“As Vermonters face an affordability crisis, the MoneyBack Program is putting hard-earned money back into Vermonters’ pockets this holiday season,” state Treasurer Mike Pieciak said in a Wednesday press release.
The new program builds on a 2023 pilot program by Vermont’s tax department and the treasurer’s office that returned $75,000 to more than 300 Vermonters with mailed checks ranging from $200 to $225.
“During the pilot program, we used certified mail so we could closely track the accuracy of the addresses verified by the Tax Department and had a 99% delivery rate,” Kunin wrote. Any letters with an incorrect address will be returned, and the money will remain in unclaimed property for the owner to claim, he said.
Pieciak plans to continue to launch other proactive ways to return unclaimed property to state residents, according to the press release.
Read the story on VTDigger here: Vermont to return $1.3 million of unclaimed property to its residents.