It might sound too good to be true, but governments often hold onto money and assets that rightfully belong to individuals. This could be from uncashed checks, forgotten bank accounts, or various other sources. If you suspect there’s unclaimed money waiting for you, knowing how to Check For Unclaimed Money is the first step towards recovering what’s yours.
Understanding Unclaimed Money and How to Check
Unclaimed money, also known as unclaimed funds or unclaimed property, arises from various sources. Government agencies at the federal, state, and local levels may hold funds due to individuals or businesses for numerous reasons. These can include:
- Uncashed government checks: Refunds, benefits payments, or other payments that were never deposited or cashed.
- Forgotten bank accounts: Dormant accounts where the owner has lost contact with the financial institution.
- Unclaimed insurance payouts: Proceeds from insurance policies where beneficiaries are unaware or unreachable.
- Stocks and dividends: Unclaimed stock shares or dividend payments.
- Safe deposit box contents: Items from safe deposit boxes that have been abandoned.
It’s important to understand that there isn’t a single, centralized federal database to check for unclaimed money across all government agencies. Each agency maintains its own records, which means the process of finding your potential funds involves a bit of detective work.
Steps to Check for Your Unclaimed Money
If you believe a government agency owes you money or holds assets, here’s a step-by-step guide to help you check for unclaimed money:
1. Start with the Specific Agency if Known
If you have a reason to believe a specific federal agency might owe you money – for instance, a delayed tax refund from the IRS – your first step should be to contact that agency directly.
Most agencies have systems in place to help you inquire about payments. For example, the IRS website provides tools to track your tax refunds.
Alt text: Check IRS refund status online to track your tax refund and identify potential unclaimed money.
You can find contact information for all federal agencies through the official U.S. government website, USA.gov. This directory is a valuable resource when you need to check for unclaimed money held by a specific part of the government.
2. Explore State Unclaimed Property Databases
For broader searches, especially if you’re unsure which agency might hold your funds, state unclaimed property databases are crucial. The National Association of Unclaimed Property Administrators (NAUPA) provides a free website, www.unclaimed.org, that acts as a portal to various state databases.
Alt text: Visit NAUPA’s unclaimed.org to search state-level databases for unclaimed property and check for unclaimed money.
This is a legitimate and free resource created by state officials to assist individuals in their check for unclaimed money. By using unclaimed.org, you can search multiple state databases to see if any state is holding funds that belong to you or your family.
3. Understand the Role of the Bureau of Fiscal Service
The Bureau of the Fiscal Service plays a role in payments made by many federal agencies. They issue payments on behalf of agencies like the Department of Veterans Affairs. If a payment cannot be delivered or cashed, the Bureau cancels the payment and returns the funds to the originating agency.
Therefore, if you are missing a payment, you will need to contact the specific agency that was supposed to issue the payment, not the Bureau of Fiscal Service directly, to initiate a check for unclaimed money related to that payment.
4. Be Wary of Locator Services
You might receive letters from companies offering to help you recover unclaimed money for a fee. These “locator services” use the Freedom of Information Act (FOIA) to access lists of uncashed government checks. They then attempt to match these checks to individuals and offer to recover the funds for a percentage.
While these services are legitimate, you can perform a check for unclaimed money yourself for free by following the steps outlined above. Be cautious and consider whether the fee charged by locator services is justified before engaging their services.
Additional Resources for Your Unclaimed Money Check
For further information and specific types of unclaimed funds, you can explore these resources:
- Unpaid Foreign Claims: If you’ve experienced specific losses in a foreign country, you might be eligible to claim funds from the U.S. government.
- Reports of Unclaimed Money: The Treasury Department provides reports listing unclaimed money in various categories, offering more detailed insights.
- Report of Receivables from Unclaimed Money: This report, primarily for government agencies, shows the amounts of unclaimed money reported by different federal agencies.
By taking a proactive approach and using these resources, you can effectively check for unclaimed money and take steps to recover any funds that are rightfully yours.
