Have you ever wondered if you might have unclaimed money or abandoned assets just waiting for you to collect?
Well, if you live in North Carolina, the answer could very well be yes! According to recent reports, North Carolina residents and businesses are currently owed over $1 billion in unclaimed funds and property.
That's right - there's over a billion dollars sitting there that belongs to Tar Heels but hasn't yet been claimed.
So how exactly does this happen, and what can you do if you think some of that unclaimed cash might be yours? Let's break it down.
Where Does Unclaimed Money Come From?
Unclaimed funds end up in state coffers for a variety of reasons. Sometimes a company loses track of you due to an incorrect address or missing information. Other times, legal disputes or inheritances result in money being owed to someone who can't be located. Whatever the reason, by law companies must turn over unclaimed assets to the state treasurer after a period of time. The state then keeps the money safe until its rightful owner steps forward to claim it.
According to the North Carolina Department of State Treasurer, common sources of unclaimed funds include:
- Bank accounts and safe deposit boxes
- Uncashed checks, including payroll checks
- Refunds, rebates, and deposit returns
- Insurance policy proceeds
- Stocks, bonds, and dividends
- Utility security deposits
How To Search for and Claim Your Unclaimed Assets
The North Carolina State Treasurer makes searching for unclaimed property easy through its NC Cash website. On the site, you can search your name, your business name, and the names of relatives to see if anything comes up. Searches are completely free.
If your search turns up unclaimed property, you'll need to collect a few documents and fill out a claim form to retrieve your money or assets. The NC Cash site provides a checklist of what you'll need, such as:
- A valid photo ID
- Proof of Social Security number
- Proof that you previously lived at an associated old address
Don't Leave Money on the Table - Check for Unclaimed Assets Today!
With over $1 billion in unclaimed funds out there, North Carolina residents should take the time to search online or contact the NC Department of State Treasurer's office about getting what's rightfully theirs.
Just think what you could do with long-lost money or property that you didn't even know existed! From paying off bills to making investments to taking a nice vacation, a windfall of unclaimed assets could open new possibilities.
So don't leave your money on the table. Spend a few minutes searching today, and you may uncover hidden funds you didn't know you had coming to you. It just takes a simple search to connect to what's been lost over time but is still waiting for its rightful owner - you!
