Money is tight for a lot of us right now, and it might be time for us to get a little creative about finding it. Especially if it simply needs to be found. There are millions of dollars in unclaimed money sitting around and some of it just might belong to you.
What is unclaimed money, you ask? It’s exactly what it sounds like, money that is currently sitting somewhere unclaimed but belongs to someone. It’s possible that some of it might even belong to you.
So, how do you find unclaimed money? There are five places that the government suggests that you check out if you’re looking to find it:
Your State Government
If you’re looking for unclaimed money, check in with any state that you’ve lived in. If a business owes you money but is unable to locate you it gets sent to “unclaimed funds” at the state government.
This money comes from a variety of places but could be from a bank account, insurance policy or some sort of state funds you were owed but never collected. You’ll want to start by checking in with the unclaimed property office of any state that you’ve and then find out their specific rules to claim your money.
The US Department of Vetran Affairs (VA) has a VA Life Insurance Fund, and if you’re eligible to receive it but haven’t collected it you might be eligible for some unclaimed money.
The same can be said about FHA-Insurance Refunds. If you had a mortgage that was FHA-insured, it’s possible that you are eligible for a refund. To find out, search the state database and find out.
If you have any unpaid wages, it’s possible that the Department of Labor can help you recover the funds where employers broke the law. Unpaid wages are held for up to three years, so make sure that you claim them before then.
Likewise, you can also search for a pension from previous employers. If the company went out of business and ended a pension plan, you might be able to search and claim a portion of it.
Banks and Investments
There are a number of reasons why you might have outstanding funds from banking and investments, such as the failure of a bank or credit union, claims from the SEC and replaced savings bonds. You’ll have to search these sources individually.
Each year millions of dollars in refunds remain unclaimed or undelivered at the Internal Revenue Service (IRS). It’s entirely possible that you might have unclaimed money from the IRS available if you haven’t collected or received a previous payment.
If you are eligible for taxes but you don’t file a return, the money that was meant to go to you remains unclaimed. If you’ve previously missed a tax year and had been eligible for a refund, you might be able to find unclaimed money there!
International Unclaimed Money
If you are seeking money owned to you internationally, specifically due to the loss of property you might be able to find it directly from the foreign government. It’s likely that they all have records and claim procedures that differ.
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