Have you ever had the joy of digging into an old pair of pants and unexpectedly finding a $20 bill, perhaps? That was a great feeling no doubt, but there could be more of your money out there, plenty more. Unclaimed cash and funds with your name on it could be waiting for you. However, you need to follow the system. In other words, there's a quick and proper way to see if unclaimed assets are yours. Check out this expert's guide on how to reclaim it.
One in 10 Americans Has Unclaimed Money
It's a surprise that one in 10 people have some money that's owed to them, and most are unaware. The great news is that more than $4 billion is returned to owners each year, according to the National Association of Unclaimed Property Administrators.
Now, you may be wondering how the heck your money became lost. It's simple. You or a relative (deceased or alive) may have had a pension that was forgotten. Or you had an old bank account or certificate of deposit (CD) earning interest year after year, and it finally matured. These common situations often occur when not all accounts can be located. Unfortunately, these funds end up being sent to a state office. That's the law and just how it goes, but you can get it back.
First, Check NAUPA's Website
You can use a mobile device such as a smartphone, but a laptop or computer is easiest when you're searching databases. To begin, the experts recommend going to NAUPA or the National Association of Unclaimed Property Administrators. This excellent website can help you access your state's program to find unclaimed money.
This is a legitimate database and one you can trust. NAUPA's membership consists of the leading unclaimed property administrators representing the governments of all 50 states.
You can also access another website by NAUPA called MissingMoney.com that lets you check for funds in multiple states at once. It's easy to use. Just type in the first and last name you want to look for money, and click search. You could also hunt for money with the business name.
Go to Your Own State Agency Directly
You can call or email the state treasury department of the state you live in. Every state in the country has a state treasury office. The people employed there can direct you in the steps to take in looking for unclaimed money and assets.
Your state's official website is free to use. There will never be a cost to look for assets that are yours no matter where they may be. Never go to a third-party website that promises you they can locate your misplaced or lost money for a fee. These are not reputable organizations and could steal your personal information such as your social security number, credit card numbers or bank account numbers.
See If a Former Employer Has Your Wages
It's always possible that a former boss could owe you back wages, and you can also search for it online. One place to look is the Department of Labor and its huge database. For example, if there are labor law violations, this website will uncover them. Click here. It's also simple to use. You will type in the name of the employer, and then, hit the "search" button.
If you find that you are due money, you can submit a claim.
Did you also know that some 80,000 people in the United States are owed pensions but have not claimed them?
A company could have gone out of business or ended your benefit plan. To see if you can claim this money, visit pbgc.gov. for details here. The Pension Benefit Guaranty Corporation is there to assist you. Its mission is to protect the hard-earned pension benefits of workers and retirees. It's an authentic, U.S. government website, so it is safe to access.
There you have it. Now, you can search for unclaimed money and assets the proper way without spending a dime. Good luck, and here's to a big windfall!
