Cuyahoga County tops the list in Ohio for unclaimed funds, with approximately $477 million waiting to be claimed by residents and businesses, according to the latest data from the Ohio Department of Commerce.
The Ohio Department of Commerce’s Division of Unclaimed Funds currently holds a staggering $4 billion owed across the state, with Cuyahoga County alone accounting for about 12% of this total. Unclaimed funds consist of money from dormant accounts such as checking or savings, unredeemed insurance claims, forgotten utility deposits, and abandoned stocks and bonds.
Understanding Unclaimed Funds
Unclaimed funds accrue when financial institutions and businesses report inactive accounts to the Division after a period of dormancy, typically ranging from three to five years. This accumulation reflects money that individuals and entities have forgotten or lost track of over time.
How Ohioans Can Reclaim Their Money
Residents and businesses in Ohio can reclaim their unclaimed funds by visiting the Department of Commerce’s dedicated website. The department provides comprehensive resources including video guides and additional assistance to facilitate the reclaiming process.
Counties with the Largest Unclaimed Funds
Following Cuyahoga County, the top five counties in Ohio with the highest unclaimed funds are:
- Franklin County – $343.1 million
- Hamilton County – $267.3 million
- Montgomery County – $131.4 million
- Summit County – $130 million
Northeast Ohio prominently features in this list, with several counties besides Cuyahoga and Summit also ranking in the top 10:
- Stark County (7th, $71.6 million)
- Mahoning County (9th, $58.9 million)
- Lorain County (10th, $49.4 million)
Accessing Detailed County Data
Ohioans interested in seeing the unclaimed funds allocated to each of the state’s 88 counties can access a complete list online. This transparency allows individuals and businesses to verify if they are owed any funds from accounts that have gone dormant.
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