How to Recover Unclaimed Property
Unclaimed property is considered an account that has been inactive for a year or more and no contact has been made with the owner of the account. Typical examples of unclaimed property include savings accounts, checking accounts, stocks, payroll checks, traveler's checks, trust distributions, insurance payments, refunds on life insurance policies, annuities and certificates of deposit. There are steps that you need to take to recover unclaimed property.
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Instructions
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Find out if you have unclaimed property. Search your state's unclaimed property database or look for postings made annually in newspapers.
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Locate your name within the listings. You will see your name and the address of the last known address connected to the account. If this is your information, then you have unclaimed property in your name.
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Get your state's claim form. You can get a copy of the claim form online at your state's tax website or at the tax building in your municipality.
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Complete the claim form. The information that you fill out on the form must be the same as it appeared in the listing.
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Send in proof of identity. You must send in a copy of your driver's license and proof that you have lived at the address that the unclaimed property is tied to.
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Wait for a response from the tax department. They will either cut you a check or send you details about the status of your claim.
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Tips & Warnings
You must remember to search all states' databases that you have resided in for any unclaimed property.
Some organizations hire a professional to locate the holder of the unclaimed property. This representative will be entitled to a percentage of the claim.
