Residents of Arkansas are set to receive unexpected financial relief as the state launches a new initiative to return unclaimed property valued at millions of dollars. The state currently holds more than $400 million in unclaimed assets, which may include forgotten bank accounts, uncashed checks, or security deposits.
Under the new law, Arkansas residents will receive automatic payments, simplifying the process of reclaiming funds that have been left dormant for years. According to The US Sun, this initiative is expected to benefit hundreds of thousands of people across the state. Many Arkansans may be eligible for these funds without taking any action.
Arkansas Launches Unclaimed Property Program
In a bid to return forgotten or abandoned financial assets to their rightful owners, Arkansas has rolled out a new initiative that distributes unclaimed property to residents. This initiative, enabled by Act 114 of 2025, will send surprise checks to Arkansans automatically, cutting out the need for residents to file a claim.
The law aims to reunite people with unclaimed funds from sources like uncashed paychecks, forgotten savings accounts, utility deposits, and even valuable items left in safe deposit boxes.
The state currently holds more than $400 million in unclaimed property, and thanks to this program, around $83 million is set to be distributed to approximately 360,000 residents. The average payout for Arkansans is expected to be just over $100.
This program is a big win for the people of Arkansas, as it reaches residents who may have forgotten about small accounts or uncashed checks. The law allows the Arkansas State Auditor’s Office to identify residents who may be owed money and send them checks of up to $1,000. For amounts exceeding $1,000, however, residents will need to submit a signed claim form along with a copy of their driver’s license for verification purposes.
The Surge in Unclaimed Property Payments
Dennis Milligan, Arkansas’s State Auditor, has expressed his enthusiasm about the program, emphasizing that the next few months will be “exciting” for residents as checks begin to arrive. According to Milligan, unclaimed property can have a significant impact on families, particularly those struggling to make ends meet. For some, a $200 payment may be the difference between paying a utility bill or buying food.
Milligan has also noted that many people are unaware of the unclaimed property programs in the state, which can result in money and assets sitting unclaimed for decades. This program is particularly useful for those who may have lost track of small savings accounts, rebate checks, or other financial assets. Thanks to Act 114, the Arkansas State Auditor’s Office is able to return funds more efficiently by eliminating the need for residents to take action.
Additionally, while checks under $1,000 will be sent automatically, residents who are entitled to larger sums will need to submit a claim form for further verification. The state is committed to ensuring that every dollar of unclaimed property is returned to its rightful owner, as these assets can include more than just cash.
Among the more unusual items in the state’s collection are a $10,000 bill, signed Nolan Ryan baseball cards, and even a telegram referencing a conversation with President Dwight D. Eisenhower.
Expanding Unclaimed Property Programs Nationwide
While Arkansas leads the charge in automating unclaimed property returns, other states have similar programs offering financial relief to residents. For instance, a program called Money Match in another state provides checks of up to $500, targeting unclaimed financial assets. This system has the potential to help millions of Americans recover forgotten money, with the process being mostly automated for efficiency.
Across the country, states are sitting on large pots of unclaimed property—some estimates suggest billions of dollars are yet to be claimed. Despite widespread awareness of such programs, many people remain unaware of the assets they are owed. This is why initiatives like Arkansas’s Act 114 are so crucial, as they ensure that these forgotten funds make their way back to the people who need them most.
