Abandoned Property: Romney, Brownies and even J.D. Salinger are on the list, are you?

Oct. 19--What do the Chinese University of Hong Kong, the Romney for President campaign, and Brownie Troop 2477 of Newton have in common?

They and thousands of others are owed money from the state's Treasury Division -- money they once controlled but later abandoned.

An estimated 20,800 people and businesses -- from Hooksett to Hong Kong to Hampton -- are listed in a 44-page insert in today's New Hampshire Sunday News (as well as in last Thursday's New Hampshire Union Leader).

"For many of our claimants, finding their name in the New Hampshire Union Leader list at this time of year is a bit like locating a long lost relative," said Bill Dwyer, commissioner of the Treasury.

"The recovery process is similar, as the claimant needs to submit documentation proving their identity, although in this case there is a lot less hugging involved. Our staff derives tremendous satisfaction from seeing property owners reunited with funds they had either forgotten about or might not have even known about as a result of having been designated an heir or beneficiary."

Dwyer is serving as commissioner of the Treasury following the resignation of former State Treasurer Catherine A. Provencher. On March 28, Dwyer will serve the remainder of Provencher's term until a new treasurer is elected during a joint session of the newly-elected members of the Legislature on Dec. 3.

The entries on this year's list are varied.

The Florida Department of Revenue is on there. So is Child Support Payment account in San Bernardino, Calif. Major state health care facilities like Dartmouth-Hitchcock Medical Center and Catholic Medical Center are listed, along with far reaching facilities like the American Academy of Sleep Medicine in Darien, Ill.

The "found" money could fund several parties if representatives from Massage Party People of Salem or For Your Pleasure parties of Troy ever inquire about their listings.

State officials are unlikely to hear from J.D. Salinger. The celebrated author died Jan. 27, 2010, at his home in Cornish, but his name is listed.

Mr. Blackwell publishes his own list every year of the best and worst dressed celebrities. There are two Mr. Blackwells on Bill Dwyer's list -- James of Lockport and William of Jaffrey.

The funds come from a variety of sources, according to Thomas P. McAnespie, Abandoned Property director for the state's treasury department. The property does include so-called "big-ticket" items like homes, cars, or jewelry.

"The primary sources of unclaimed funds received are bank accounts, securities and related accrued dividends," said McAnespie. "However we also receive considerable amounts of unclaimed wages, deposits, credit balances and consumer rebates.

In recent years, due to stepped up compliance efforts by New Hampshire and the other states' unclaimed property offices, we have seen a major increase in the total unclaimed life insurance death benefits proceeds reported."

In fiscal year 2014, nearly 3,400 holders of property reported and remitted cash in excess of $14.9 million and delivered over 5 million shares of stock and/or mutual funds to the state's custodial account, according to the state treasury department's annual report. Over the past 10 fiscal years, the division has taken in $138,353,635 from holders of abandoned property, averaging about $13.8 million annually.

During FY 2014, the division returned over $6 million dollars to individuals, representing 11,746 claims paid, according to the annual report.

The average claim paid was $519, and the largest individual claim was $164,569. In the past 10 fiscal years, $56,752,118 has been returned to owners with an average of nearly $5.7 million returned each year.

"During the most recent five year period, the New Hampshire Abandoned Property Division's annual return rate is approximately 40 percent," said McAnespie. "This is slightly ahead of the national average of 37 percent."

When money remains unclaimed for a period of three years, it is placed -- 'escheats', as McAnespie termed it -- to the state's General Fund.

"However, those assets can be claimed back from the General Fund at any future date when the owner or their heirs at law present a valid claim to the Abandoned Property Division," said McAnespie.

According to the annual report, the treasury division delivered nearly $10.2 million to the General Fund during FY 2014.

Over the past 10 fiscal years, approximately $67 million has been escheated to the General Fund, an average transfer of funds of nearly $6.7 million each year.

It could take anyone on the list weeks to find out the exact amount they are entitled to receive. People need to call one of the phone numbers listed on the newspaper insert and leave a message with the state Treasury to receive a claim form.

They will eventually be required to send a copy of a driver's license and proof of a Social Security number to receive their money.

In order to protect people against fraud, the state doesn't list in the newspaper the dollar value of the property, McAnespie said.

"It certainly is similar to hitting the lottery in instances where individuals call and find out they were the beneficiary on a loved one's life insurance policy that they did not know existed," said McAnespie.

"In other instances where they are claiming money from their own bank account or an old uncashed check, it is a pleasant surprise but also a reminder to keep a close watch on their financial assets.

If your name doesn't appear on today's list, that doesn't mean you don't have any property due to be returned to you from past years.

"The names in this year's Notice of Names of Person's Appearing to be Owners of Abandoned Property are only the names of property owners we have received since the publication of last year's list," said McAnespie. "Owners with property reported and advertised in previous years can contact our offices at 271-2621 and the division's staff will be happy to search the entire unclaimed property database on their behalf."

People can also search the website missingmoney.com, to determine if they are owed money from the past, dating back to the 1980s.

[email protected]

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(c)2014 The New Hampshire Union Leader (Manchester, N.H.)

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