Photo: Arizona Department of Revenue building
The Arizona Department of Revenue’s Unclaimed Property (ADOR) program returned a record $88 million to rightful owners in fiscal year 2024 (July 1, 2023 through June 30, 2024), significantly more than the recent 5-year average of $57 million per year. Amounts returned to owners ranged from $1.0 million to $1.5 million.
“The ADOR Unclaimed Property team is dedicated to its mission of reuniting owners with their property, and their incredible efforts resulted in a record amount of returned property last fiscal year,” said Rebecca Wilder, communications director for the Arizona Department of Revenue. “We want to ask for the public’s help to return even more. ADOR encourages everyone to search their name at https://azdor.gov/.
Unclaimed property generally consists of money owed to a person or business from sources such as old bank accounts, uncashed paychecks, tax refunds, balances, rebates, returned deposits, and unused safe deposit boxes. Often, property goes unclaimed because the company holding the funds has an outdated address or the wrong forwarding address for the customer. In some cases, a person passes away without family members knowing about the assets. Most accounts are turned over to the state after years of inactivity.
The Arizona Department of Revenue’s Unclaimed Property Division collects, secures and attempts to return unclaimed property to its rightful owner. Each year, the agency sends thousands of notices to prospective owners, advertises the program in Arizona media, and works with other state agencies in Arizona and across the country to track down owners of unclaimed property.
For more information about the Arizona Department of Revenue’s Unclaimed Property Program, visit https://azdor.gov/.
