(The Center Square) – Louisiana returned a record $70.9 million in unclaimed property to residents, businesses and other rightful owners during fiscal year 2026, the highest annual total in the state’s history, according to State Treasurer John Fleming.
The total surpassed the previous record by about $700,000 and exceeded last year’s amount by $1.6 million, according to the Louisiana State Treasurer’s Office.
Fleming credited the milestone to the efforts of the office’s Unclaimed Property Division.
“This new record total is an outstanding testament to the tireless efforts of our staff members in the Unclaimed Property division, led by our exceptional director, Kathleen Lobell,” Fleming said in a statement.
Despite the record payouts, the state is still holding approximately $1.2 billion in unclaimed property awaiting its rightful owners.
According to the Treasurer’s Office, roughly 1 in 6 Louisiana residents has unclaimed property, with the average claim valued at about $900.
“It is your money; we want you to claim it,” Fleming said.
Unclaimed property is created when businesses are unable to locate the owner of financial assets after a period of inactivity or unsuccessful contact attempts. One of the most common reasons is that a company has an outdated mailing address for the owner.
The assets are transferred to the state for safekeeping until they are claimed.
The property can include uncashed payroll checks, dormant bank accounts, utility deposits, insurance proceeds, stock certificates, royalties, interest payments and other financial assets.
The program also returns money to estates, businesses, nonprofit organizations and government entities, not just individual residents.
Each year, businesses are required to turn over millions of dollars in abandoned cash, securities and other financial assets to the Treasurer’s Office under Louisiana’s unclaimed property laws.
Louisiana residents can search for unclaimed property at LaCashClaim.org using their name to determine whether they have money or other assets waiting to be claimed.
