Performing an unclaimed money search can help you locate missing assets, property, and money you’re entitled to. However, the process doesn’t end at locating your missing money. While finding these surprise assets may feel like you’ve just earned a big end-of-year bonus, there’s still more to be done.
Once you’ve located funds, you need to take additional steps to receive any money in your name that is owed to you. Generally, you will need to file a claim with the state department that is holding your assets for you. This usually includes proving that the money belongs to you, such as proving your identity.
It’s important to keep in mind that your state department cannot legally release assets to you until these steps are completed. The process helps prevent scammers from committing fraud to steal these assets from their rightful owners.
The claims process that protects your unclaimed property is relatively simple and straightforward. Usually, you will need to complete the following steps:
- Prove Your Identity
There are several documents you can provide to prove your identity, such as your birth certificate or a valid passport, driver’s license, or identification card.
- Submit Your Documentation, if Necessary
Some states may only ask you to provide a few documents, such as a driver’s license number. However, other departments may ask you to submit several documents connecting you to the assets you are attempting to claim.
- Complete a Claim Form
Many states require you to complete a specific claim form before any unclaimed assets can be released to you. These forms provide the department with a record of your request for the assets and that assets were released to you. The claim form you need to complete varies between states, and may even vary by state department.
- Get Your Money
This is the fun step. Once your state department confirms your identity and entitlement to missing assets, they’ll generally mail a check to your current address.
It’s also worth noting that you may need to complete additional steps if the assets you are trying to claim exceed a certain dollar amount. For example, it’s not uncommon for state departments to request your documents or claim forms to be notarized, especially in the case of unclaimed assets of more than $1,000. However, as inconvenient as that may be, it’s a small price to pay comparatively.
Additionally, you may need to submit additional documentation in cases of unclaimed property, such as jewelry, gold coins, and other physical items. You may also need to take additional steps to receive that property once it has been approved to be released to you.
