Pennsylvania residents may be owed money from billions in unclaimed funds

The Commonwealth of Pennsylvania is holding nearly $4B in unclaimed property owed to state residents. The City of Philadelphia told residents to check if they're owed money after the city collected more than $6M.

PHILADELPHIA - If it sounds too good to be true, it usually is – especially when it comes to free money. But just in time for the holidays, Philadelphia is telling residents to check if they're owed money from a mound of unclaimed funds sitting in Harrisburg.

Philadelphia on Monday announced it received more than $6M in "unclaimed property funds" due to the city from the state of Pennsylvania. The money, according to a release, comes from "funds and other property owed to individuals and institutions that have been turned over to Pennsylvania due to lack of action by the owner."

"These funds are rightfully owed to the City, and we must ensure we are claiming every available dollar in order to provide high-quality services to our residents," Councilmember Katherine Gilmore-Richardson said.

The Commonwealth of Pennsylvania is holding nearly $4B in unclaimed property owed to state residents. Councilmember Gilmore-Richardson introduced a bill in May that required the Director of Finance to submit an annual report detailing all unclaimed property owed to they city and the process to retrieve it.

"This can happen if a bill that is owed to the City of Philadelphia goes to the wrong post office box or goes to the wrong place," Councilmember Gilmore-Richardson said.

Pennsylvania residents can check to see if they're owed unclaimed revenue by using the Pennsylvania Department of Treasury website.