Millions of dollars in unclaimed funds are waiting to be reunited with their rightful owners, and some of it could be yours! The Unclaimed Property Division of the Vermont State Treasurer’s Office is dedicated to returning lost and forgotten assets to Vermont residents. Our database is currently holding over 900,000 properties, with a total value exceeding $119 million.
Is some of this unclaimed money yours? Search the official Vermont unclaimed property database now: www.missingmoney.vermont.gov
What Exactly is Unclaimed Property?
Unclaimed property encompasses a wide array of financial assets that are owed to individuals, businesses, or organizations but have been left inactive or forgotten. These assets are held by various entities for a specific period without any contact from the owner.
Think of it as “missing money” that could be from:
- Dormant Bank Accounts: Checking and savings accounts that have been inactive.
- Uncashed Paychecks: Paychecks that were never deposited or cashed.
- Unrefunded Security Deposits: Security deposits from rentals or utilities that were not returned.
- Lost Stocks and Mutual Funds: Investments that have been returned as undeliverable.
- Forgotten Contents of Safe Deposit Boxes: Items from safe deposit boxes where contact with the owner has been lost.
- IRAs: Retirement accounts that have been forgotten or lost track of.
- Insurance Proceeds: Unclaimed life insurance payouts or other insurance settlements.
- Utility Refunds: Refunds from utility companies that couldn’t reach the customer.
- Gift Cards: Unused balances on gift cards in some cases.
These forgotten financial assets are reported annually to unclaimed property departments in all 50 U.S. states, as well as in the District of Columbia, Canada, Puerto Rico, and the U.S. Virgin Islands.
In Vermont, the State Treasurer’s Office takes possession of these assets and securely safeguards them until they are claimed by their rightful owners or heirs. Crucially, in Vermont, there’s no time limit to claim your funds. You never lose your right to your unclaimed money.
Who Might Have Unclaimed Money?
Unclaimed property doesn’t just belong to individuals. It can be held for various entities, including:
- Individuals and Family Heirs: The most common recipients of unclaimed funds.
- Businesses: Companies of all sizes can have forgotten assets.
- Nonprofit Organizations: Charities and nonprofits can also be owed unclaimed property.
How to Reclaim Your Unclaimed Property
Claiming your unclaimed money in Vermont is a straightforward process with multiple options to suit your needs.
Your first step is to search the Vermont State Treasurer’s unclaimed property database: www.missingmoney.vermont.gov
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Online Claim (For Properties Under $200): If your unclaimed property is valued at less than $200 and you are the original owner, you can typically file a claim online without needing to mail in physical documentation. Once your online claim is approved, payment is usually mailed within two business days. This is often the quickest way to recover smaller amounts of unclaimed money.
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Claim by Mail (Print and Send): For any amount, or if you prefer a paper-based process, you can print the claim form directly from the website after you locate your property in the database. Complete the form and mail it to the Treasurer’s Office for processing. Instructions are clearly provided on the claim form itself.
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Request a Claim Form by Mail: If you prefer, you can also request to have a claim form sent to you via postal mail. Contact the Unclaimed Property Division using the contact information below to request a form.
Important Notes for Claiming:
- Social Security Number (SSN): While providing your SSN can streamline the process, it is optional. If you choose not to provide it online, you can still claim via mail (options 2 or 3).
- Claim Status: Once you’ve filed your claim, you can easily check its status online by creating an account or logging into an existing one on the unclaimed property website. You’ll need your Claim ID, which is located on your claim form.
- Need Assistance? Don’t hesitate to call the Vermont State Treasurer’s Office. Their staff can assist you with checking your claim status or advise you on the best way to file, especially if you have questions or unique circumstances.
Contact the Vermont Unclaimed Property Division:
Address: 109 State St, Montpelier, VT 05609
Email: [email protected]
Phone: (802) 828-2407
Toll Free (Within Vermont): (800) 642-3191
Vermont’s Success in Returning Unclaimed Funds
The Vermont State Treasurer’s Office is highly effective in its efforts to return unclaimed property to Vermonters. In fiscal year 2020 alone, the Unclaimed Property Division successfully processed 17,600 individual claims, returning over $4.7 million in cash. This figure excludes the value of returned mutual funds and other securities, meaning the total amount of unclaimed money returned was even higher.
The charts below illustrate the Treasurer’s Office’s ongoing work in managing and returning unclaimed property:
- Unclaimed Property Turned Over to the State Annually: Shows the consistent influx of new unclaimed funds.
- Unclaimed Property Returned to Vermonters Annually: Demonstrates the yearly success in reuniting Vermonters with their missing money.
- Historical Data of Claimants Paid Annually: Highlights the large number of Vermonters who successfully reclaim their assets each year.
Alt text: Chart showing the trend of unclaimed property turned over to the Vermont State Treasurer annually, emphasizing the continuous flow of new unclaimed funds.
Alt text: Graph illustrating the amount of unclaimed property returned to Vermonters each year, highlighting the Vermont State Treasurer’s Office’s commitment to returning missing money.
Alt text: Bar graph depicting the number of claimants paid annually by the Vermont Unclaimed Property Division, showcasing the consistent success in reuniting individuals with their unclaimed assets.
Consumer Protection is Key
Returning unclaimed property is not just about finances; it’s about protecting consumers and ensuring Vermonters have access to all funds rightfully belonging to them. The Treasurer’s Office actively works to connect Vermonters with their missing money. Watch the video below to hear the story of one Vermonter who recovered a lost life insurance policy thanks to the Unclaimed Property Division:
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Legal Framework: Vermont Statutes
The entire process of reporting and disbursing unclaimed assets in Vermont is governed by the official Vermont Statutes Title 27: Property, Chapter 18: Unclaimed Property. This legislation provides the legal foundation for the Unclaimed Property Division’s operations.
Stay Informed and Protect Yourself
Lost Life Insurance Benefits
Are you searching for a lost life insurance policy or payment? The Vermont Treasurer’s Office offers a dedicated resource to help you search for lost life insurance benefits: Lost Life Insurance Benefits Web Page.
Fraud Awareness
Be cautious of websites and phone calls from individuals or companies offering to “help” you recover your unclaimed assets, especially if they ask for upfront fees. Some of these may be scams. Review these helpful tips from the Vermont Treasurer’s Office to evaluate offers and avoid fraud related to unclaimed property recovery.
