New program will give thousands back to Pennsylvania residents, Treasury says

Posted: Mar 15, 2023 / 06:16 PM EDT

Updated: Mar 15, 2023 / 06:16 PM EDT

HARRISBURG, Pa. (WTAJ)– With the Treasury having billions in unclaimed property, new legislation will make sure that Pennsylvanians are returned what belongs to them.

Pennsylvania Money Match is an automatic process where up to $5,000 in unclaimed property that the Treasury has will be transferred to the rightful owner after a verification process.

Treasurer Stacy Garrity and Senator John DiSanto (R-15) made the announcement while outside the Finance Building`s historic vault on Wednesday, March 15.

“This will be a huge step forward in our efforts to return unclaimed property to Pennsylvanians as quickly as possible,” Treasurer Garrity said in a news release. “Pennsylvania Money Match will get more money back into the wallets of hard-working Pennsylvanians, where it belongs. Many people don’t know they have unclaimed property, and we should make it as easy as possible to get these funds back where they belong. In today’s economy, every extra dollar can go a long way to helping families make ends meet.”

One in 10 Pennsylvanians has an average of $1,600 in unclaimed property, according to the release.

DiSanto helped to create the Money Match program when he introduced Senate Bill 24. He added that due to inflation being high, the program really could help out Pennsylvania families.

“I am pleased to join Treasurer Garrity to announce this new legislation that will return people`s unclaimed property more quickly, and without the burden of having to search and submit a claim,” DiSanto said. “This initiative, which has strong bipartisan support, is truly commonsense and has tremendous potential to help residents get back unclaimed funds during this period of high-inflation and stretched family budgets.”

For larger claims, a claim form will need to be submitted along with other information to verify ownership. Other states have also implemented similar programs to return unclaimed property to residents.