Cojoweb.com's
Unclaimed Funds / Property Page
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Every
day, someone loses some form of financial
property because of a change of address, death, or just plain
forgetfulness. |
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NOTE:
There are some particulars for
the way each state addresses the subject of unclaimed property. Be sure to read
the guidelines for the state you are searching. See the State URLs listed below.
Two
Examples of Frequently Asked Questions
North
Carolina - Frequently Asked Questions
New York -
Frequently Asked Questions
States
Websites for Unclaimed Funds - Click
URL Listed Below
- also -
Archives and
Records Info. by State - Click
State Abbreviation Listed Below
Archival and
Genealogical Info. by State - The
USGenWeb Project - Click
State
Listed Below
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Click Here
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National
Archives of Ireland
National
Archives of the USofA -
Also - The
1930's Census - Archives Online
Also --- Click
Here --- ARE
YOU A DESCENDANT OF POCAHONTAS ?
New York -
Frequently Asked Questions
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"What Kind of
Funds Become Unclaimed?"
- Savings Accounts
- Checking Accounts
- Uncashed Checks
- Telephone/Utility Deposits
- Rental Security Deposits
- Wages
- Insurance Benefits/Policies
- Safe Deposit Box Contents
- Mortgage Insurance Refunds
- Stocks and Dividends
- Mutual Funds
- Certificates of Deposit
- Trust Funds
- Estate Proceeds
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"How Do Accounts
Become Unclaimed?"
Did you ever...
- Move without checking to be sure everyone you do
business with knew your new address?
- open a school savings account as a child or for your
own child and then forget about it?
- move without getting your utility deposit refund?
- forget to cash a health insurance check?
- neglect to cash interest or dividend checks on a
security?
- leave a job and never go back to get your last
paycheck?
- fail to notify companies who owe you money that you
have moved?
In cases like these, your money is
eventually turned over to the State. [top]
[New York State - Frequently Asked Questions]
"When Do These
Accounts Become Unclaimed?"
State law requires banks, insurance
companies, utilities, and other businesses to turn dormant savings accounts,
unclaimed insurance and stock dividends, and other inactive holdings over to the
State. If there has been no activity in the account for a set period of time,
usually between two and five years, your money is considered unclaimed or
abandoned.
Before unclaimed funds are turned over to
the State, banks and insurance companies attempt to notify you by mail and are
required to publish newspaper listings of names and addresses. Despite these
efforts, many funds remain unclaimed and are turned over to the State
Comptroller, who acts as custodian. [top]
[New York State - Frequently Asked Questions]
"Is There A Time
Limit or Fee For Claiming Unclaimed Funds Held By The State?"
No, there is no time limit and no fee for
this service.
New York State holds unclaimed funds in
trust - with the State Comptroller as custodian - until the funds are claimed by
the owner or heir. The State never takes ownership of the money. It is held for
you until you claim it. If at any time you can prove this money is yours, the
Comptroller will return it to you without charge.
Please Note: If you are contacted by someone
other than the State Comptroller's Office, the maximum fee they can charge you
for helping you claim your money is 15%. [top]
[New York State - Frequently Asked Questions]
"How Can I Claim
Funds Held By The State?"
If you found your name on the list, click on
the Account # (in blue text) for the item you are claiming. Also, please see How
To File A Claim...
You can also write to our Office, be sure to
include your name, current and all previous addresses, and your social security
number. [top]
[New York State - Frequently Asked Questions]
"How Can I Find
Out The Dollar Amount Of the Funds?"
By law, we can not disclose dollar amounts
for unclaimed funds until we receive proof of entitlement. [top]
[New York State - Frequently Asked Questions]
"Will I Receive
Interest On The Funds?"
In New York, by law, we only pay interest on interest
bearing items, such as savings accounts, for a period of five years from the
date we receive the property. The interest rate is set by the New York State
Department of Tax & Finance, and is updated quarterly. [top]
[New York State - Frequently Asked Questions]
"How Long Will It
Take To Receive My Funds?"
You will receive an acknowledgement letter
within a month after we receive your claim. Due to a tremendous increase in
claims activity and the significant work done to ensure that all funds are
returned to the rightful owners, please allow six months or more for your claim
to be reviewed and verified. If additional documentation is required, you will
be notified in writing after our review is completed. Please note that all
claims involving estates take considerably longer. [top]
[New York State - Frequently Asked Questions]
"How Do I Know
If I Am Entitled To Funds Listed In My Name?"
The easiest way to determine if the person
listed is you is to check the address associated with the funds. Check to see if
you lived or did business at the address. We can not list the Social Security
number because it is considered private under the law, and in many instances we
don't know it. However, you must include your Social Security Number on the
claim form to verify ownership. [top]
[New York State - Frequently Asked Questions]
"What If I Can't
Prove The Address Of Record?"
For examples of acceptable proof, please see
How To File A Claim.
Please note, in almost all cases we require
proof of the address on record. However, if you simply can not provide
proof that you once used the old address, just mail in the completed claim form.
Attach a note indicating that you don't have proof of the old address. We
will advise you in writing of exactly what will be required to claim the
account. [top]
[New York State - Frequently Asked Questions]
"What If I Can't
Prove Ownership?"
For examples of acceptable ownership, please
see How To File A Claim.
Please note, not all items require proof of
ownership. If you have the original document, (ex. check, passbook, bond) we
recommend sending a copy of it. If not, just complete the claim form and
attach proof of the old address. If further documentation is required, you will
be advised in writing. [top]
[New York State - Frequently Asked Questions]
"What If The
Owner Is Deceased?"
The funds can be claimed by the court
appointed representative of the estate. If a representative was not appointed,
the funds can still be claimed by a relative (next of kin) or a creditor.
However, we will need confirmation of who is entitled to claim the funds, a
photocopy of the death certificate, and proof that the deceased once used the
address of record. [top]
[New York State - Frequently Asked Questions]
"Where Can I
Find Unclaimed Funds In Other States?"
See
Websites listed by State above
Return
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button when finished with your search!
You can get a list of all state unclaimed
property programs from the National Association of Unclaimed Property
Administrators. You can visit their website at NAUPA.
MissingMoney.com
Return
to Cojoweb.com by using your back browser
button when finished with your search!
Return
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button when finished with your search!
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How To File A
Claim
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1.
In New York (for example) click on the Account Number you wish
to claim (in blue).
2.
Complete the Claimant Information fields on the Claim Form. Include
your full name and current address.
3. Print
the Claim Form. Sign the form, and have your signature
notarized by a licensed notary public.
4. Attach
proof of the address shown under Account
Information on the Claim Form.
5. Mail
completed claim form to our office. You will be notified
if we require further proof of ownership.
Don't forget to...
- Sign the form
- Have your signature notarized
- Include your Social Security Number
- Attach proof of the address shown in Account
Information
To ensure that all funds
are paid to the rightful owners, we ask that all claim forms be
submitted with proof that you once used the address listed in
the account information.
We may also require
proof of ownership.
If the owner is
deceased, you must provide a copy of the death certificate in
addition to proof of address.
Proof of Address
Photocopies of the following are
considered acceptable proof of address: Driver's license;
non-driver photo ID Birth and Marriage certificates;
passport (if address is shown) Bills and Statements; such
as banking, utility, medical, credit cards Records; such
as tax (W2, 1099), school, insurance, medical, military Legal
papers; such as divorce decree; separation agreement;
mortgage, Post marked envelope. [top]
[New York State - Frequently Asked
Questions]
Proof of Ownership
Original copies of the following are
considered acceptable proofs of ownership: Bank books;
Pass books Statements; bank, mutual fund, utility bills Certificates;
stocks, bonds, bond coupons Uncashed checks; money
orders; gift certificates, traveler's checks Insurance
Policies. [top]
[New York State - Frequently Asked
Questions]
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North Carolina - Frequently Asked Questions
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1. What is an Escheat?
Simply put, an escheat is the succession of abandoned property to the
State. It is commonly associated with properties that comes from an
estate of a person dying without a will and without any know heirs.
However, this concept has been broadened to include the recovery of
any property that results from the failure of a person legally
entitled to that property to make a valid claim against the holder of
the property within a prescribe period of time. Consequently, the
terms escheat and unclaimed property are used interchangeably. [top]
[North Carolina Frequently Asked Questions]
2. What is unclaimed property?
Unclaimed property consists of bank accounts, wages, refunds, utility
deposits, insurance policy proceeds, stocks, bonds, contents of safe
deposit boxes, etc. that have been abandoned – that is, for which
there have been no documented transactions or contact with the owners
for a statutory period of time known as a dormancy period. There are
over 100 types of property which may become unclaimed. The term
property is defined in North Carolina General Statute 116B-52(11).
There is a detailed listing on the back of the ASD-159 reporting form. [top]
[North Carolina Frequently Asked Questions]
3. How long is a dormancy
periods?
In most cases, the dormancy period varies from 1 to 5 years depending
on the property type. Utility deposits and refunds have a 1-year
dormancy period. Wages have a 2-year dormancy period. Accounts payable
items have a 5- year dormancy period. The dormancy holding periods is
discussed in North Carolina General Statute 116B-53(c). Also they are
listed on the back of the ASD-159 reporting form. [top]
[North Carolina Frequently Asked Questions]
4. Who is a holder?
North Carolina General Statute 116B-52 (5) states “Holder means a
person obligated to hold for the account of or deliver or pay to owner
property that is subject to this Chapter.” In essence, any business
association in possession of property is a potential holder. This
includes but is not limited to banks, insurance companies, utilities,
corporations, government agencies, nonprofit organizations… [top]
[North Carolina Frequently Asked Questions]
5. When does property become
“Unclaimed”?
In accordance with North Carolina General Statute 116B-53, property
becomes unclaimed when the owner has not communicated in writing or by
other means reflected an interest in the property or the account in
which the property is held. An indication of interest may include the
cashing of a check, owner directed increase or decrease of the
property, owner activity in another account, the payment of a premium
or amount owed. [top]
[North Carolina Frequently Asked Questions]
6. When are Holders required to
report Unclaimed Property?
As stated in North Carolina General Statute 116B-60(d), the report
must be filed before November 1 of each year and cover the 12 months
next preceding July 1 of that year for all Holders except Life
Insurance. Life Insurance companies must file before May 1 of each
year for the calendar year next proceeding. [top]
[North Carolina Frequently Asked Questions]
7. Is there a minimum amount
that does not have to be reported?
No. North Carolina General Statute 116B does not exclude small dollar
amounts. Businesses must report all unclaimed property, regardless of
the amount. Items under $50 may be reported and remitted in a lump
amount as Aggregate. Names and address do not have to be provided for
aggregate amounts. [top]
[North Carolina Frequently Asked Questions]
8. Are holders obligated to
report and remit unclaimed property to other states?
Yes. The Supreme Court ruling in Texas vs. New Jersey dictates that
unclaimed property must be reported and remitted to the state of the
owner’s last known address. If that state does not have an
applicable law regarding the property, the property must be sent to
the holder’s state of incorporation. If the owner’s last known
address is unknown, that property would also be reported to the
holder’s state of incorporation. [top]
[North Carolina Frequently Asked Questions]
9. Is there a specific way to
report unclaimed property?
Yes. An ASD-21 (Report of Unclaimed Property) and an ASD-159 (Report
of Unclaimed Property Verification and Checklist) must be used to
report abandoned property. Please note that the ASD-159 must be
notarized. In addition, Holders with listings of over fifty (50)
owners are requested to submit their report via diskette in the
specified NAUPA standard electronic file format. The NAUPA format and
electronic reports may be obtained at www.wagers.net/hrs/index.htm. A
hard copy of your report must be included with your electronic filing
for internal control purposes. Tangible property must be submitted on
form ASD-127 and securities on an ASD-215. These forms may be
downloaded from our website. A check for the total amount escheated
must accompany the proper forms. [top]
[North Carolina Frequently Asked Questions]
10. Is a holder required to do
anything to locate the owner prior to remitting the funds?
YES! A holder must perform due diligence. North Carolina
General Statute 116B-59 requires that: (1) a holder make a good faith
effort to locate the owner and (2) a holder shall send a written
notice (NCGS 116B-59(c) defines what should be included in the notice.
A sample notice is also available under the Guides to Unclaimed
Property on our website.), by first-class mail, to the apparent owner,
not more than 120 days or less than 60 days before filing the report
to the last known address of the apparent owner as reflected in the
holder’s records, if the value of the property is $50.00 or more. Holders
not performing this requirement may be subject to penalties provision
of NCGS 116B-77. [top]
[North Carolina Frequently Asked Questions]
11. What happens if a holder
does NOT report unclaimed property?
A holder who fails to report, pay or deliver property within the time
prescribed by law, or fails to perform duties required by this law,
such as due diligence, will be subject to all penalties under G.S.
116B-77. This could include a daily interest penalty, a $1,000 civil
penalty each day the report is withheld, plus 25% of the value of any
property that should have been reported. Also a holder who fails to
report may be a likely audit candidate. [top]
[North Carolina Frequently Asked Questions]
12. Can a holder reimburse a
customer or reactivate a customer’s account?
Yes. A holder may reimburse a customer or reactivate an account even
though the money has already been sent to the State Treasurer. If a
holder chooses to reinstate an account, the holder may file a
substantiated claim with the Unclaimed Property Division and be
reimbursed for the funds. [top]
[North Carolina Frequently Asked Questions]
13. What attempts are made by
the State to find the rightful owner?
As required by statute, a listing of owners of unclaimed property is
sent annually to the clerk of superior court of each county and to at
least two newspapers having general circulation in North Carolina. In
addition, other attempts are made by the State Treasurer that are not
required by statute. Such means include an internet search on our
website, our presence as local events, fairs, and festivals,
additional media coverage such as television and radio, state
legislators, Equifax searches, etc. [top]
[North Carolina Frequently Asked Questions]
14. What does the State do with
the money before it is claimed?
The North Carolina State Education Assistance Authority (SEAA) is an
agency of the State of North Carolina and is authorized by the General
Assembly to administer post-secondary education programs of student
financial assistance created under Federal or State law. North
Carolina General Statute 116B-37 provides that the interest earnings
from the Escheat Fund, minus administrative expenses, be deposited
with the SEAA. The law further provides that this money will be
utilized to provide low interest loans to worthy and needy North
Carolina students in State-supported schools of higher education. This
year $18,644,820 was deposited with the SEAA for this purpose. This
will provide over 5,500 additional low-interest loans to North
Carolina students in State-supported schools of higher education. [top]
[North Carolina Frequently Asked Questions]
15. What is the purpose of this
law and the Escheat Program?
In 1970, legislation mandated that the North Carolina Department of
State Treasurer assume responsibility for the administration of the
escheat program that was previously administered by the University of
North Carolina. The purpose of the program is to: Recover unclaimed or
forgotten property Reunite these properties with the rightful owner
Remit the interest earnings on the funds invested to the North
Carolina State Educational Assistance Authority to provide loans to
worthy and needy North Carolina students in State-supported
institutions of higher education. [top]
[North Carolina Frequently Asked Questions]
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