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The spread of the Internet has made information widely accessible to users, ranging from simple searches to background checks. Furthermore, widespread Internet availability has transformed the process of conducting an asset records search. At the click of a mouse, it's possible to conduct a surprisingly thorough asset search.
Online unclaimed asset search databases allow users to search for unclaimed property in both business names and individual names.
Keep the following in mind when you're trying to find hidden assets by conducting asset searches:
- Although you might choose to pay a business asset search service to find hidden assets for you or your company, there is no fee involved in actually filing the required paperwork and attempting to claim the assets.
- A business asset search service is a good option if you're limited geographically and not able to travel to areas where you need to do research.
- Results from an online asset records search can be the first step in helping you locate hidden assets.
Use government and government-affiliated asset search databasesUnclaimed property databases allow users to search for unclaimed funds held by states' treasury departments. They've grown in popularity after being widely publicized.
Use an asset search firmIf you're willing to pay a fee, asset search services can help you with the process of conducting a business asset search.
Learn more about how to search assets and complete the required paperwork to make a claimThe required paperwork varies depending on what type of unclaimed property you find. Many state treasury databases include links to the required forms, and many are often available in PDF format.
United States Department of the Treasury website. Complete the required forms to establish proof of heirship. Unpaid foreign claims require these two forms.
- Weigh your options. Determine how much time you have to devote to finding hidden assets. If your time is limited, hiring a firm to conduct a business asset search might be the right choice for you.
- Proceed with caution if someone contacts you about hidden assets or unclaimed property. Be careful to avoid possible scams. Guard your personal information such as your social security number or employer identification number. Confirm the person or company's identity before proceeding further.
- Some state treasury unclaimed property databases won't list unclaimed funds under a certain amount, and most only list whether or not the amount is under or over $100.