The South Carolina State Treasurer holds more than $1 billion in unclaimed property, and you can search for yours and file a claim for free through the state’s Palmetto Payback program. A name search takes about two minutes, filing a claim is free, and approved claims typically pay out in four to six weeks.
Search the Palmetto Payback Database
Start at the Treasurer’s claim portal. You only need a last name or business name to run a search, though adding a first name narrows the results. The system shows exact matches first, then similar names, so scroll past the top few results before concluding there’s nothing there.1South Carolina State Treasurer. Claim Search
Search every version of your name you’ve used. Maiden names, former married names, common misspellings, nicknames, and any variation a bank, employer, or insurance company might have had on file. Businesses should search current and former trade names. Each result lists a property ID number, the company that reported it, and the general type of asset. Write down the property ID for anything that might be yours.
It’s worth running the search again every year or so. New property flows into the state’s system each November as businesses file their annual reports, so a name that returned nothing last year might turn up something this year.
What You’ll Need to Prove It’s Yours
The Treasurer’s office needs enough documentation to confirm you’re the rightful owner before releasing funds. For most claims that means:
- A government-issued photo ID, such as a South Carolina driver’s license, state ID, or passport
- Your Social Security Number or EIN, which is the primary way the state matches you to the asset
- Proof connecting you to the property, such as an old bank statement, utility bill, pay stub, or insurance document showing the account or address on file
If you’re claiming property that belonged to someone who has died, the paperwork gets heavier. You’ll generally need a certified death certificate and probate documents showing your legal authority over the estate as executor, administrator, or heir. Pulling these records together before you start the claim prevents the most common cause of delay.
File the Claim Online or by Mail
Filing online is faster and creates an immediate electronic record. From your search results, open the claim form, sign it electronically, and upload scanned copies of your ID and supporting documents through the Treasurer’s portal.2SC Office of the State Treasurer. Unclaimed Property Program
If you’d rather use paper, print the claim form, sign it, and mail the completed package with document copies to:
South Carolina State Treasurer
Unclaimed Property Program
1200 Senate Street, Suite 214
Wade Hampton Building
Columbia, SC 29201
Either way, you’re filing under penalty of perjury. The claim itself is free. The Treasurer’s office charges no fees and takes no deduction from what it returns to you.3South Carolina State Treasurer. Unclaimed Property Homepage
How Long It Takes to Get Paid
State law gives the Treasurer 90 days to review a claim. In practice, straightforward claims with clean documentation often process in four to six weeks. Estate claims with multiple heirs or incomplete probate records tend to run longer and can take the full 90 days.4South Carolina Legislature. South Carolina Code Title 27 Chapter 18 – Uniform Unclaimed Property Act
When you file, you receive a claim ID number for checking status through the Treasurer’s online portal. Approved claims pay out by check mailed to the address on your claim. If the claim is denied, the Treasurer must send written notice, and you have 90 days from that notice to challenge the decision by filing suit in Richland County Court of Common Pleas. If the office never acts on your claim at all, you have 180 days from the date you filed to bring that same court action.4South Carolina Legislature. South Carolina Code Title 27 Chapter 18 – Uniform Unclaimed Property Act
There’s no deadline on your end for filing a claim in the first place. The state holds the property indefinitely, and if your asset was earning interest before being turned over, the Treasurer continues paying interest for up to ten years from the date the state received it.4South Carolina Legislature. South Carolina Code Title 27 Chapter 18 – Uniform Unclaimed Property Act
Ignore Finder Letters
Companies sometimes mail letters offering to recover unclaimed property for a percentage of the proceeds. South Carolina caps these finder fees at 15 percent, and any agreement signed within 24 months of the property being delivered to the state is automatically unenforceable. Violating these rules is a misdemeanor punishable by a fine of up to ten times the fee charged, up to 30 days in jail, or both.4South Carolina Legislature. South Carolina Code Title 27 Chapter 18 – Uniform Unclaimed Property Act
Because the state’s search and claim process is free and designed for owners to handle themselves, paying a finder a percentage of your own money rarely makes sense.
Will You Owe Taxes on It?
The underlying property was already yours, so recovering it generally isn’t treated as new income. The exception is interest. South Carolina pays interest on assets that were earning interest before being turned over, accruing from the date the Treasurer received them. If the interest portion of your payment reaches $10 or more in a tax year, the payer is required to issue a Form 1099-INT, and you’ll report that interest as income on your federal return for the year you received the check.5Internal Revenue Service. About Form 1099-INT, Interest Income4South Carolina Legislature. South Carolina Code Title 27 Chapter 18 – Uniform Unclaimed Property Act