A property, fund, or money is considered unclaimed when there has been no contact from the owner for an extended period of time. Therefore, if a government office or other source is holding on to these properties, it is considered unclaimed. The goal of the unclaimed property unit is to collect, safeguard, and distribute unclaimed properties to the rightful owners via a prompt and courteous service. They also ensure to educate the public and holders about unclaimed property law.
Forms of Unclaimed Assets and Funds
There are various ways in which money can be forgotten or lost. They include:
Stocks
IRS refunds
Uncashed dividends
Bank account
Annuities
Insurance payout
Security deposits
Payroll checks
Pension for retirement
Methods of Finding Assets and Funds
There are different methods to find unclaimed assets if you suspect you have one. They are:
1. Online Services
Each year, states receive unclaimed or lost property, money, or assets, and the National Association of Unclaimed Property Administrators provide access to state records of unclaimed properties. They provide the information and links to the official government websites in order to begin the claiming process. You can check each state you have lived in or done business in for a search of any unclaimed money you may have. It is a free service.
2. Free Searches
You can use Google to search for unclaimed funds. You will most likely come across a Comptroller Of The State site where you can search using your first and last name, past addresses, maiden name if married, etc.
3. Third-Party Service
You can also use a third-party service to help locate your properties. They locate and return your properties quickly. However, be wary of the payment they require and ensure to investigate their services.
Finally...
Unclaimed assets are quite common, so there is a chance you may have something waiting for you. Therefore, take advantage of the financial service available in order to retrieve your long-forgotten asset.
Greetings Tax Payers of America! As of January 10th, 2020, federal tax returns may be filed online for FREE!
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