Unclaimed property in Wisconsin basics define unclaimed property as property that has not been claimed for a specified period of time, known as the abandonment period. Financial institutions and other businesses routinely report unclaimed property to the state of Wisconsin and are generally required to turn it over to the state once the abandonment period expires.
The state is required by federal law to administer Wisconsin state unclaimed property once the abandonment period has expired. Wisconsin has state laws that specify the procedures for locating the owners of unclaimed property that is in its custody. There are generally three types of information sources for unclaimed property in Wisconsin:
- The state government. The official Wisconsin treasury unclaimed property site maintains the state’s property database, and other government departments may offer basic information on unclaimed property.
- Third parties. Businesses and other private organizations may provide free information on unclaimed property, in addition to selling unclaimed property services in Wisconsin.
- Local jurisdictions. Generally, each county and city in Wisconsin has specific procedures for locating owners of unclaimed property before the abandonment period expires.
Find state agencies that deal with state of WI unclaimed propertyThe state of Wisconsin administrates unclaimed property that it receives from businesses and government entities throughout the state. Wisconsin also has specific laws that regulate unclaimed Wisconsin.
Wisconsin State Treasurer provides a FAQ with basic answers to questions about unclaimed property in Wisconsin. The Wisconsin Statutes published by the Wisconsin Legislature addresses the issue of unclaimed property in Wisconsin with Chapter 177.
Learn about Wisconsin unclaimed properties from private sourcesThere are many businesses that provide searches of WI abandoned property. While these companies may charge a fee for these services, they often provide free information about unclaimed property in Wisconsin.
Look for state of Wisconsin unclaimed property in local jurisdictionsUniversities, cities and counties frequently hold unclaimed property temporarily. The property will eventually be turned over to the state, reclaimed, auctioned off or otherwise disposed of.
City of Stevens Point provides its policy for locating the owners of unclaimed bicycles or auctioning them off. The University of Wisconsin offers its procedures for disposing of unclaimed property under Wisconsin law.
- Wisconsin state treasury unclaimed property is administered by the state as a result of the Uniform Unclaimed Property Act. This act was last revised in 1995 and specifically deals with unclaimed property that is in the custody of businesses. These funds frequently can be located in databases that contain the property of more than one state.