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PA Treasury Helps Dept. of Public Welfare Seize Unclaimed Property of Parents Owing Child Support

HARRISBURG – Pennsylvania Treasurer Rob McCord today announced new unified procedures that allow Treasury to assist the Pennsylvania Department of Public Welfare (DPW) to seize unclaimed property pursuant to a court order, property that belongs to parents who have not fulfilled child support obligations.

“We are pleased to work together with DPW to develop a practical response to a pressing issue,” Treasurer McCord said.  “As always, the McCord Treasury stands ready to help and serve our “customers” – not just Pennsylvania taxpayers but also other state government agencies.”

McCord’s unclaimed property staff worked with DPW’s Bureau of Child Support Enforcement to develop unified procedures that allow the Bureau’s county-level offices to seize from Treasury unclaimed property pursuant to a court order that is owned by an obligor in a support case to pay overdue child support obligations.

Generally speaking, unclaimed property is any financial asset that has been left with a business or organization without activity or contact for at least one year.  Unclaimed property includes things like abandoned bank accounts, forgotten stocks, uncashed checks, certificates of deposit, life insurance policies, safe deposit box contents, and recovered stolen property.

Once Treasury receives the unclaimed property, Treasurer McCord and his Return Team begin a reunification process through due diligence letters, phone calls, annual newspaper advertising campaigns, and media promotion.  The McCord Treasury's Return Team currently seeks the rightful owners of nearly $2 billion in unclaimed property. 

Visit www.patreasury.gov to search for property or for information on reporting unclaimed property. 

Pennsylvania Treasurer Rob McCord is committed to increasing the economic security and prosperity of all Pennsylvanians. Before winning the statewide elected job of State Treasurer, McCord was a successful business leader. He is now focused on strengthening the state’s economy, managing investments to get strong returns for taxpayers, and helping to create good jobs and retirement security for Pennsylvanians. To learn more about Treasurer McCord's initiatives, please visit the Pennsylvania Treasury at www.patreasury.gov.

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