Helping Businesses, Consumers and Schools
Workshops to assist businesses in reporting
Every year thousands of businesses report and remit unclaimed property to the Department of State Lands (DSL), the state agency charged with holding unclaimed property (money) for rightful owners.
"Any company that writes checks has the potential to generate unclaimed property," said Pat Tate, DSL’s unclaimed property manager. "Paychecks, refunds, vendor payments, you name it – are all potentially unclaimed property if the check is never cashed."
Free training seminars are being offered May 18 through Sept. 5 in Salem, Coos Bay, Bend, Medford and Portland to help businesses and organizations learn more about complying with Oregon’s unclaimed property law.
All seminar attendees will receive reference documents to make reporting easy.
Register online or call 503-986-5290.
All unclaimed property receipts are held in trust forever in the Common School Fund (CSF) until claimed by the owner. CSF earnings are distributed twice a year to Oregon’s 197 K-12 public school districts. In 2012, distributions will amount to nearly $48 million.
"The state’s role is pretty simple," said Tate. "We work with businesses on recovering unclaimed property, and we work to reunite owners with funds that they are due. While we search, the funds are kept safely, and in perpetuity, in Oregon’s Common School Fund. This benefits not only the property owners, but Oregon’s schoolchildren as well."