The Great Colorado Payback is proactively returning $8 million in unclaimed property to Colorado residents, Colorado State Treasurer Dave Young announced yesterday.
“Given today’s tight economy, we all could use some extra cash for groceries, gas, and other necessities,” said Treasurer Young. “I am thrilled to continue modernizing our claims process so we can reunite more Coloradans with billions in missing money.”
More than 12,000 claims have been preapproved for payment due to streamlined verification processes. Eligible claimants in Colorado will receive checks in the coming weeks and can cash them immediately without additional documentation.
Each year, companies transfer millions in assets to the Colorado Department of the Treasury when they cannot locate the original owners, including individuals, companies, nonprofit organizations, schools, and other entities. The Great Colorado Payback currently holds over $2 billion in unclaimed property owed to more than 15 million individuals and entities.
Since its launch in 1987, the program has returned $765 million to owners and their heirs, including nearly $78 million last year alone. An estimated one in ten Coloradans has unclaimed property with the state.
To search for missing money, visit GreatCOPayback.com.
About the Colorado Department of the Treasury
The Colorado Department of the Treasury is the constitutional guardian of the public’s funds. It is the Treasury’s duty to manage and account for the taxpayers’ dollars from the time they are received until the time they are disbursed. The Treasury’s staff is committed to safeguarding and managing the people’s monies with the same diligence and care as they do their own. For more information, visit colorado.gov/treasury.