Who doesn’t want to wake up to a large sum of money that somehow legitimately finds its way into your bank account? The sheer possibility of hitting a massive payout is realistically unlikely but finding out if you have unclaimed money in your name can still be a surprisingly fruitful experience. Unclaimed money is exactly what it sounds like. It’s money owed to you by the government that has not been collected, just sitting there unclaimed. These funds can also be hidden away in sources such as banks, credit unions, previous employers, etc. There are more than a few free official sources that exist that enable you to see if funds are floating around out there that are owed to you.
Locating Your Unclaimed Money
Unfortunately, there isn’t one mega-hub out there that lets you search for unclaimed money so it’s best to begin your search with one of the free official sources below. In most cases, you will only need to supply your name to start your search. I would suggest starting with your current state if you think they may be a previous employer that owes you back wages. You can check out it now on the Department of Labor website. If you think that the IRS may owe you some cash, visit the IRS website in search of unclaimed or undelivered tax refunds. It may also be worth your while to search for other types of unclaimed funds on the websites below:
- The U.S. Department of Treasury is where you can find out if there are any funds owed to you by a foreign government.
Pensions From Former Employers
- Search the Pension Benefit Guaranty Corporation to locate any unclaimed pensions.
- Search the FDIC to locate any unclaimed money from failed bank institutions.
- Search unclaimed deposits to locate any unclaimed funds from credit unions.
- Search the U.S. Department of Veteran Affairs to locate any unclaimed insurance funds that may be owed to current and former policyholders or beneficiaries.
- The U.S. Securities and Exchange Commission allows you to find out if a person or company owes investors money.
Even if you are unsuccessful in finding any unclaimed funds owed to you, it’s still a good idea to periodically search these sites since the databases are updated regularly.
Claiming Your Funds
If you have found money owed to you then let me be one of the first to say, congratulations! Your next step is to properly claim the funds by verifying your identity. Depending on the state you live in changes the requirements, but you generally need to provide proof of the following no matter where you’re from:
- A state-issued I.D.
- Proof of current address
- Proof of the address associated with the property you’re claiming
- Social Security Card or IRS Form W-2
Showing these documents will verify that you are in fact the rightful owner of the unclaimed money. Once, you have been verified you can start filing a claim. The process for filing a claim will vary based on your location as well so be sure to follow the claim instructions very carefully to prevent any delay in receiving your funds!