IRS

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Finding unexpected cash isn't hard as long as you know where to look. So if you’re approached by an asset locator about unclaimed property, you may first take the time to use the search tools on this site – Asset locators generally charge a 10 to 20 percent fee to find your unclaimed funds. While this can be a legitimate service, you may be able to do this yourself easily and avoid paying that fee.

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The Federal Government holds unclaimed property in individual federal agencies such as the Internal Revenue Service, HUD (mortgage insurance refunds),PBGC (pensions), and U.S. Treasury (savings bonds).

IRS Refunds / Stimulus Package 

The IRS recently announced that more than 92,000 tax refund checks had come back as undeliverable. More than 115,000 additional undeliverable checks were related to the advance payment of an increase in the Child Tax Credit.

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Companies are required by law to send funds from lost accounts to the State of the owner’s last known address. Acting in the best interest of consumers, each State has its own unclaimed property laws that protects your funds if you have lost contact with them. These laws instruct companies to turn forgotten funds over to a State official who will then make a diligent effort to find you or your heirs.

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One of the largest amounts recently awarded was to a coal company in West Virginia, which was recently awarded close to a million dollars in unclaimed funds – payments owed them by a previous client no longer in business, that they had not expected to be able to collect.
 

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We lose money all the time.  From the time you are born, money that is rightfully yours can be lost. 

• Did your parents open a savings account for you but lost track of it? 
• On your birthday, did your uncle give you a savings bond that was quickly lost? 
• When you started working as a teenager, did you get your tax refunds? 
• When you went off the college, or did an internship in another city, did you lose track of a checking or credit union account? 

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Each year, billions of dollars are lost by their owners in abandoned bank accounts and lock boxes, lost savings bonds, IRS refunds and dozens of other sources.  Could you be one of them?

• Over $32.8 billion is currently being safeguarded by State treasurers and other agencies for 117 million accounts.