According to their National Association of Unclaimed Property Administrators (NAUPA), an incredible one out of every seven Americans has unclaimed property. This exciting new discovery has revealed an astonishing reality. Millions more may not be aware of the money owed to them—potentially over $20 billion nationwide. Unclaimed property, which might be anything from uncashed paychecks to tax refunds or utility deposits, frequently sits unclaimed by its original owners.
It’s a legitimate, safe site, supported by the National Association of Unclaimed Property Administrators as well as the National Association of State Treasurers. Beyond that, it’s a quick and effective way for someone to check if they have any unclaimed assets. Deb Goldberg, Massachusetts state treasurer and receiver general, encourages checking for these assets, emphasizing the potential benefits with her statement:
“It turns out so many people have unclaimed property. You may be in for a very pleasant surprise.” – Deb Goldberg
Exploring Unclaimed Property
To begin a search for unclaimed property, consumers are encouraged to begin their search at Unclaimed.org or MissingMoney.com. Both sites are great resources and help users find out whether they have any unclaimed money. Here’s what you constructively have to provide to start the process. This would consist of your social security or taxpayer identification number, filing status and precise refund amount reported on your returns.
MissingMoney.com advises:
“Since evidence required to complete a claim will vary by state, carefully read and follow the instructions. For other questions related to your claim, please directly contact the state where your claim was filed.” – MissingMoney.com
NAUPA encourages you to check at least once a year for any updates, as new unclaimed properties may come available at any time.
Federal Avenues for Unclaimed Property
The U.S. Department of the Treasury provides multiple avenues for people to search for federal unclaimed funds. SHF Treasury Hunt is a great tool! It assists users in locating matured, uncashed savings bonds that are at least 30 years old and have stopped accruing interest. In addition, taxpayers looking for more information on federal tax refunds should check out the IRS Refunds page.
The Department of Labor’s Wage and Hour Division spearheads these investigations, which routinely discover and recover back wages for employees. The HUD Refunds program provides a great opportunity to test your eligibility for a refund. This program is administered by the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA).
Steps to Reclaim Your Cash
In order to check on the status of anticipated refunds or property, people have to go through a complex third-party process. Applicants need to piece together all applicable documentation to corroborate their claim. They must be willing to engage them and reach out to public officials when needed.
