The amount and variety of unclaimed property in Montana is larger than one would think. Sometimes it happens when people move and forget to reclaim their utility deposits or over-payments; other times, people may die and leave some money squirreled away in separate checking or savings accounts. Laws regarding Montana unclaimed property and its reversion to the state, also known as Montana escheat or Montana escheatment, also mean that business owners have legal obligations if they come into possession of unclaimed property.

The list of unclaimed property in MT includes, but is not limited to, stocks, checking/savings accounts, death benefits, vendor checks, certificates of deposit, paid-in-full life insurance, uncashed checks, unpaid wages, money orders, credit balances, refunds, dividends, commissions, insurance payments and customer deposits.

1. Know the laws regarding Montana unclaimed property and how they affect you as a business owner.

2. Search abandoned property in Montana to see if you have forgotten some assets.

3. Find a Montana unclaimed property auction.

Action Steps
The best contacts and resources to help you get it done

Know your obligations regarding MT unclaimed property

As a business owner, you're typically required to report and remit unclaimed property in Montana. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are.

I recommend: Go to the Holders of Unclaimed Property section of the Montana Department of Revenue for information on reporting requirements. For an outside source on reporting requirements, try the Business Owner's Toolkit.

Search Montana state unclaimed property to ensure that your business hasn't left some assets behind

It may be a long shot, but why not perform a Montana unclaimed property search to make sure your business doesn't have some assets floating around out there somewhere? This makes even more sense if your business has been around for a long time or it has a long string of former owners. You might be pleasantly surprised to find that one of the former owners neglected to retrieve some MT unclaimed property or even some unclaimed land in Montana that still belongs to your business.

I recommend: Go to the Unclaimed Property section of the Montana Department of Revenue for information on claiming property. The state of Montana utilitizes the National Association of Unclaimed Property Association (NAUPA) and it's "arm," MissingMoney.com to handle their unclaimed property listings. Check also with the CashUnclaimed.com website for unclaimed property in Montana.

Find state of Montana unclaimed property at auctions

State and local governments, as well as police agencies, sometimes dispose of unclaimed properties in Montana through auctions. If you like auctions, it can be a good way to save your business some money.

I recommend: PropertyRoom.com auctions unclaimed and seized property from police forces in Montana and elsewhere. JustAuctions and Government-Auctions-Guide.com feature unclaimed properties in MT, as well as foreclosures and seized property.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Be wary if approached by someone who wants money in exchange for information regarding state of Montana abandoned property; you can get the same information on your own for free.