Print This Article State has Thousands of Dollars Owed to Itself in Unclaimed Property Program
Photo courtesy of allrmc.com
BY GREG WILES
The state of Hawaii should maybe take a look into its own unclaimed property program for lost cash as it scratches for more funding.
A review of its unclaimed property website shows the state has thousands of dollars of checks it either didn’t know about or has failed to cash. The Department of Education, its various offices and schools can possibly collect more than $20,000, while the Department of Taxation shows up having more than $5,000 of unclaimed checks.
Moreover, the state Department of Budget and Finance, the department that administers the unclaimed property program, appears to have more than a couple thousand dollars of money awaiting it between its various offices and director.
Even some of the state’s top government officials have property awaiting them, including Gov. Neil Abercrombie and Lt. Gov. Brian Schatz. Former Gov. Linda Lingle is among those with money pending.
The unclaimed property program holds more than $150 million owed to people and businesses that’ve either forgotten or don’t know about the money. Under state law, banks, utilities, and others are required to hand over accounts that have been dormant for five years.
This includes pay checks that haven’t been cashed, unclaimed checking and savings accounts, stock certificates and even sometimes contents of safety deposit boxes.
The state holds this money and collects interest off of it while maintaining a website where people can search for their names or anyone else, including government agencies. The site is at: https://www.ehawaii.gov/lilo/app.
It appears the University of Hawaii has at least $6,000 in the account, while thousands await the County of Hawaii. Those who either haven’t claimed checks or been unsuccessful seeking the money include the Democratic Party of Hawaii and the Hawaii Republican Party.
The site lists roughly $63 is available to Abercrombie and a little more than $100 for Schatz. Lingle has a single $35 check awaiting her.
Others with money in the fund include Rep. Colleen Hanabusa and House Speaker Calvin Say.
Some people complain they haven’t been able to collect because of identification requirements – people with years’ old deposits awaiting them sometimes have a problem proving they lived at the address the account is linked to.
Unclaimed property worth more than $50, contents of safety deposit boxes and stock certificates require a notarized signature. That’s in addition to providing the state with a Social Security Number and date of birth.
Short URL: http://www.hawaiireporter.com/?p=30626
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