FOR IMMEDIATE RELEASE
May 25, 2016
TOPEKA, Kan. – State Treasurer Ron Estes today announced his office has reached a record-breaking milestone of $100 million in returned unclaimed property since the beginning of his administration.
“I really enjoy being able to return to Kansans what is rightfully theirs and through streamlined processes, outreach initiatives, and media events, we’ve achieved this success,” said Kansas State Treasurer Ron Estes. “The Unclaimed Property Program is a great government service dedicated to helping Kansans by safeguarding and reuniting abandoned property with rightful owners.”
Throughout his administration, Estes has led many changes to modernize and simplify the unclaimed property process:
- Passed a bill that allowed the Kansas Department of Revenue to share the most recent contact information of owners with the Unclaimed Property Division, which resulted in approximately 30 percent of all properties returned in this faster, more efficient method.
- Worked with leaders in the statehouse to pass a bill making Kansas Unclaimed Property more business friendly by creating an independent appeals process for holders.
- Made Kansas the first state in the country to receive from the U.S. Treasury the value of fully matured U.S. Savings Bonds that were found within safe deposit boxes and no longer paying interest. This amounted to more than $860,000 transferred to the Kansas State Treasurer’s Office and placed into the unclaimed property database.
“It’s a constant goal of ours to return as much property as possible to respective owners,” said Estes. “Every dollar returned is another dollar back in the pockets of Kansans and our local communities.”
Currently, the office is still safeguarding more than $301 million in unclaimed funds for approximately two million separate properties and continues to receive more each year.
“Whether they’ve searched before or not, I encourage all Kansans to visit our official website, http://www.KansasCash.com, every couple of years to check our online database for any missing property that may belong to them,” he said. “It’s a service provided free of charge and my staff would be happy to answer any questions about unclaimed property or our claim process at firstname.lastname@example.org.”
Each year, unclaimed or abandoned assets are turned over to the Kansas State Treasurer’s Office Unclaimed Property Division by financial institutions and businesses that lose contact with owners. This property may come from forgotten bank accounts, stocks, bonds, insurance premium overpayments, refunds, abandoned safe deposit boxes and other property. The State Treasurer’s Office serves as custodian of these assets and makes every effort to return them to rightful owners or their heirs.
Ron Estes is the 39th state treasurer for the state of Kansas and is the first state-wide elected official from the city of Wichita in 20 years. He was elected to serve as the Midwest Regional Vice President for the National Association of State Treasurers 2012-2013, and now serves on the College Savings Plans Network Executive Board and the National Association of Unclaimed Property Administrators Executive Board. Ron has also served as Sedgwick County Treasurer and as the treasurer for the Kansas County Treasurers’ Association. He was born in Topeka and is a fifth-generation Kansan. Ron and his wife, Susan, have three children.