Using Government Sites for Unclaimed Property

Employing government Web sites for unclaimed property

Wonder if you have some money out there due to you? Unclaimed property sites can help you search for "lost money" from savings or checking accounts, payroll checks, unredeemed gift certificates and many more. You may think that losing money would be difficult, but a name change, address change or unfinished paperwork can all lead to unclaimed property.

State agencies and even some federal agencies who handle unclaimed funds go about tracking down the rightful owner in a number of ways, including searchable databases you can access online. You can search by asset type, by federal agency or through a state agency, too.

Consider the following information when using government sites for unclaimed property:

1. Unclaimed money sites include that property about which the financial institution or company has not had contact with the owner for a year or more.

2. It may be helpful to check out government sites for unclaimed money in several states or through a federal agency, because the unclaimed property notification will be sent to the owner's last known address.

3. While some companies charge you to search for unclaimed property, a government site for unclaimed money will let you search for free.

Search government sites for unclaimed property by asset type

Usually an unclaimed property holder isn't going to track you down; you must be the one to start an unclaimed property search. There are a variety of assets that can be lost. If you think you have money coming to you from stocks or a security deposit, it may be easier to check the online databases under those categories first.

Find government unclaimed money through a federal agency's website

A few federal agencies also hold onto unclaimed property. Those agencies include HUD, U.S. Savings Bonds and the Internal Revenue Service. Although there isn't one overall database, you can search each agency individually for unclaimed property.
U.S. Department of Housing and Urban Development. Missing a pension, annuity or other benefits? Search Pension Benefit Guaranty.

Locate unclaimed property through your state government

Most states keep unclaimed property until the owner is found. The process for claiming the property may vary from state to state but all include some kind of identity verification and filling out a claim form.

• Even if a state requires you to pay a handling fee to get your unclaimed funds, the charge should only be about 1% of the unclaimed property value.

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