Imagine discovering extra cash you didn’t know existed. It might sound like a dream, but for many Indiana residents, it’s a reality. The US government, and specifically the state of Indiana, is currently holding onto billions of dollars in unclaimed assets, and some of it could be yours. With estimates suggesting that 1 in 10 people are missing out on money or property rightfully belonging to them, checking for Indiana Unclaimed Money is a smart move.
What Exactly is Considered Unclaimed Property in Indiana?
The Indiana Attorney General defines unclaimed property as any financial asset that has been inactive for a prolonged period. This isn’t just loose change; it encompasses a wide range of assets, potentially including:
- Unpaid wages or outstanding commissions you may have earned.
- Funds sitting in dormant savings and checking accounts.
- Uncashed stock dividends from investments.
- Life insurance payouts from policies you may be a beneficiary of.
- Underlying shares of stock.
- Customer deposits or refunds you were owed.
- Certificates of deposit that have matured and been forgotten.
- Credit balances from various accounts.
- Refund checks that never reached you.
- Unredeemed money orders.
- Even the contents of forgotten safe deposit boxes.
Indiana residents have a dedicated resource to search for these forgotten financial assets. The official website, indianaunclaimed.gov, allows you to easily search for unclaimed funds such as deposits, overpayments, refunds, and insurance proceeds. It’s not only worthwhile to check for yourself, but also to search for family members or even friends – you could be the one to reunite them with their lost money.
Video thumbnail explaining the concept of unclaimed money and how to check for it.
Indiana’s Unclaimed Money: By the Numbers
The Indiana Unclaimed Property Division has been actively returning money to its rightful owners. As of mid-July 2024, over $38 million has already been successfully returned to Hoosiers in the current year alone. The amounts can vary significantly, with the largest single claim reaching over $750,000. However, the average payout is still a substantial amount, around $1,000, demonstrating that unclaimed money can be a significant sum. Despite these successful payouts, over $850 million still remains unclaimed in Indiana, highlighting the importance of checking if some of it belongs to you.
Step-by-Step Guide: How to Find Your Unclaimed Funds in Indiana
Finding out if you have unclaimed money in Indiana is a straightforward process:
- Visit the Official Website: Go to indianaunclaimed.gov. This is the official website of the Indiana Unclaimed Property Division.
- Search by Name or Business: Use the search function on the website. You can search by your name or the name of your business to see if there are any unclaimed funds associated with you.
- Submit a Claim (If You Find Funds): If your search reveals unclaimed property, you can submit a claim directly through the website. Crucially, there is no fee to claim your money back.
- Track Your Claim: Once you submit your claim, you will receive a claim ID number. You can use this number to check the status of your claim on the website at indianaunclaimed.gov/app/claim-status-search.
Claim Processing Time and Claim Duration
According to the Indiana Attorney General’s office, it typically takes up to 90 days to process a claim for unclaimed property. While it may take a few months to receive your funds, the potential reward is well worth the wait. It’s also important to know that in Indiana, unclaimed property is held for 25 years. After this period, the funds become the property of the state. This gives you a significant window to claim what is rightfully yours, but it’s always best to check sooner rather than later.
Claiming on Behalf of Others and Out-of-State Searches
You can also claim property on behalf of someone else. If you are the legal heir of a deceased person, you are entitled to claim their unclaimed assets. Similarly, if you are the owner of a business or have the authority to make financial decisions for a business, you can claim unclaimed property on its behalf. Individuals must be 18 years or older to file a claim themselves. However, parents or guardians can claim on behalf of those under 18.
If you suspect you might have unclaimed assets from states other than Indiana, a valuable resource is missingmoney.com. This website allows you to conduct a broader, nationwide search for unclaimed property across multiple states.
Contacting the Indiana Unclaimed Property Division
For any questions or assistance, you can directly contact the Indiana Unclaimed Property Division using the following contact details:
For Claims:
- Email: [email protected]
- Phone: 1-866-462-5246
For Businesses Reporting Unclaimed Property:
- Email: [email protected]
- Phone: 1-317-234-9768
Mailing Address:
Office of the Indiana Attorney General
Unclaimed Property Division
PO Box 2504
Greenwood, IN 46142
Don’t leave your money unclaimed. Take a few minutes today to search for Indiana unclaimed money – you might be surprised at what you find!
