How to Find Hidden Money Owed to You
You might have money owed to you that you're not aware about. Perhaps you moved to a new address or another state and forgot to provide everyone with your change of address. Hidden money can include forgotten rent deposits, a final paycheck or tax refunds. Many former mutual insurance companies have demutualized and owe millions to their former insurance clients, many of whom cannot be found.
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Instructions
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IRS Unclaimed Refund
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Federal unclaimed funds are often tax refund checks. Navigate to the Internal Revenue Service website to search for your unclaimed refund. (See Resources.) Click the link "Where's My Refund."
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The IRS unclaimed funds require greater detail to start a claim. Enter your Social Security number. Enter the filing status for the tax year you are searching. You will need to enter the exact whole-dollar refund amount.
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The IRS sends a refund check to successful claimants. Click "Submit." If all the information is correct, the IRS will provide the status of the refund and an expected delivery date.
State Unclaimed Funds
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Each state maintains a list of unclaimed funds. Navigate to "MissingMoney.com." The website serves as a clearinghouse for information on unclaimed funds for most states. (See Resources.)
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Complete a form for each state where you might have unclaimed funds. Enter the "First Name" and "Last Name" then click on the magnifying glass with the word "Go."
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You must prove your identity to complete a claim. Complete a form to claim any funds due you. Required information varies but may include your driver's license number, Social Security number, birth certificate or a death certificate and documentation that you are the beneficiary or heir.
Demutualized Insurance Company Claims
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Many companies left the life insurance business. Navigate to the "Demutualization Claims Clearinghouse." (See Resources.) Scroll down to the bottom of the page for links to the insurance companies you can search.
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Search each insurance company where you may have a claim. Click on the insurance company you wish to search for unclaimed funds.
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Unclaimed insurance funds may require a minimal fee to unlock information. Complete the form to initiate a search. Enter credit card information to pay the search fee. Click "Submit Order." If your name comes up as a candidate for a claim, you will receive instructions from the site.
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Tips & Warnings
Make certain you have all previous addresses and proof of identification and/or relationships for the state you are filing a claim in. Duplicate names exist in almost every case and the state has to be certain you are the true claimant.
Visit "Naupa" (see Resources) if your state is not listed in "Missing Money."
Government officials warn consumers they do not have to pay to locate unclaimed money. Every institution offers adequate free resources to help you find money that is owed you. "Demutualization Claims Clearinghouse" charges a fee of $18 to investigate missing funds. You pay the fee even if there are no hidden funds in your name.
References
Resources
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Comments
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Great advice. I think the one thing this article is missing is in the investment area. You can buy a house with 20% down and now you can do that with your investments as well. You can control a stock for 1/5th the cost vs the average guy. Pretty powerful to find all of that hidden money. I created a course at hiddenmoneymethods.com to show you how to use only 20% of the capital for your investments.
