• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Submissions
  • About Us
  • Contact Us
  • Jan 29, 2023
  • Startup
    • Creating a Plan
    • Funding a Startup
    • Franchise Center
    • Getting Your Office Ready
    • Making Your Business Official
    • Marketing Your New Business
    • Personal Readiness
  • Run & Grow
    • Customer Service
    • Human Resources
    • Innovation
    • Legal
    • Operations
    • Risk Management
  • Leadership
    • Best Practices
    • Communication
    • Green Initiatives
    • Open Culture
    • Strategic Planning
    • People Skills
  • Sales & Marketing
    • Advertising and Lead Generation
    • Marketing Innovations
    • Marketing Plans
    • Online Marketing
    • Relationships
    • Sales Activities
  • Finance
    • Budgeting and Personal Finance
    • Payments and Collections
    • Tax and Accounting
    • Pricing Strategy
    • Working with Investors
    • Working with Lenders
  • Tech
    • eCommerce
    • Hardware
    • Software
    • Security
    • Tech Reviews
    • Telecom
  • Shop

SmallBizClub

Helping You Succeed

taxbandits banner
Home / Finance / Payments and Collections / Find Unclaimed Money Governments Or Businesses Owe You
Find Unclaimed Money Governments Or Businesses Owe You

Find Unclaimed Money Governments Or Businesses Owe You

1309 Views

Jan 5, 2021 By TaxConnections

SEARCH FOR UNCLAIMED PROPERTY

If a business, government office, or other source owes you money that you don’t collect, it’s considered unclaimed.

The federal government doesn’t have a central website for finding unclaimed money. But you don’t need to hire a company to find unclaimed money for you. You can find it on your own for free, using official databases.

1. Search For Unclaimed Money In Your State

Businesses send money to state-run unclaimed property offices when they can’t locate the owner. The unclaimed funds held by the state are often from bank accounts, insurance policies, or your state government.

  • Start your search for unclaimed money with your state’s unclaimed property office.
  • Search for unclaimed money using a multi-state database. Perform your search using your name, especially if you’ve moved to another state.
  • Verify how to claim your money. Each state has its own rules about how you prove that you’re the owner and claim the money.

2. Search For Money From Employers

  • Unpaid Wages – The Department of Labor (DOL) may recover back wages for you if your employer broke labor laws. If you think you may be owed back wages from your employer:
    • Search DOL’s database of workers who have money waiting to be claimed. DOL holds unpaid wages for up to three years.
  • Pensions from Former Employers – Search for unclaimed pensions from companies that either:
    • Went out of business or
    • Ended a defined pension plan

3. Search For Money From Insurance

  • VA Life Insurance Funds – Search the U.S. Department of Veterans Affairs (VA) database for unclaimed insurance funds.
    • The VA may owe money to current or former policyholders or their beneficiaries.
    • This database doesn’t include funds from:
      • Servicemembers’ Group Life Insurance (SGLI)
      • Veterans’ Group Life Insurance (VGLI) policies from 1965 to the present
  • FHA-Insurance Refunds – If you had an FHA-insured mortgage, you may be eligible for a refund. FHA insurance refunds are issued by the U.S. Department of Housing and Urban Development (HUD).
    • Search the HUD database with your FHA case number. Case numbers have three digits, a dash, and the next six digits—for example, 051-456789.

4. Search For Money From Tax Refunds

  • Tax Refunds – The Internal Revenue Service (IRS) may owe you money if your refund was unclaimed or undelivered.

5. Search For Money From Banking And Investments

  • Bank Failures – Search for unclaimed funds from failed financial institutions. The Federal Deposit Insurance Corporation (FDIC) lists them.
  • Credit Union Failures – Find unclaimed deposits from credit unions.
  • SEC Claims Funds – The Securities and Exchange Commission (SEC) lists enforcement cases in which a company or person owes investors money.
  • Savings Bonds – Use TreasuryHunt.gov to find matured savings bonds that have stopped earning interest. You can also learn how to replace a lost or destroyed savings bond.

6. Search For Unclaimed Money From A Bankruptcy

A bankruptcy creditor is someone who is owed money by a person or business which declares bankruptcy. Sometimes, the money owed to creditors remains undistributed by the bankruptcy court for a variety of reasons.

  • Learn more about unclaimed bankruptcy funds.
  • Check to see if you may be owed money using the U.S. Courts Unclaimed Funds Locator.

7. International Unclaimed Money

Foreign Claims – U.S. nationals can find money owed to them from foreign governments after the loss of property.

Undelivered And Unclaimed Federal Tax Refund Checks

Every year, the Internal Revenue Service (IRS) has millions of dollars in tax refunds that go undelivered or unclaimed.

Undelivered Federal Tax Refund Checks

Refund checks are mailed to your last known address. If you move without notifying the IRS or the U.S. Postal Service (USPS), your refund check may be returned to the IRS.

If you were expecting a federal tax refund and did not receive it, check the IRS’ Where’s My Refund page. You’ll need to enter your Social Security number, filing status, and the exact whole dollar amount of your refund. You may be prompted to change your address online.

You can also call the IRS to check on the status of your refund. Wait times to speak with a representative can be long. But, you can avoid waiting by using the automated phone system. Follow the message prompts when you call.

If you move, submit a Change of Address – Form 8822 (PDF, Download Adobe Reader) to the IRS; you should also submit a Change of Address to the USPS.

Unclaimed Federal Tax Refunds

If you are eligible for a federal tax refund and don’t file a return, then your refund will go unclaimed. Even if you aren’t required to file a return, it might benefit you to file if:

  • Federal taxes were withheld from your pay

and/or

  • You qualify for the Earned Income Tax Credit (EITC)

You may not have filed a tax return because your wages were below the filing requirement. But you can still file a return within three years of the filing deadline to get your refund.

State Refund Checks

For information about your state tax refund check, contact your state revenue department.

Information Obtained From USA.GOV

Filed Under: Payments and Collections Tagged With: Collections

Source: Reprinted with permission of Tax Connections

TaxConnections

TaxConnections

TaxConnections Worldwide Directory of Tax Professionals is an authority site of tax advisors from around the world. As the leaders in our market vertical, you can find and interact with tax professionals in corporations, law firms, public accounting firms, tax services firms, government and academia in one click. Through our innovative technology, we maximize the exposure of a tax professional’s expertise and services to the more than one billion people who go online for tax advice each year.

Related Posts

  • 3 Highly Effective Tips to Deal with Delinquent Accounts and Collect Late Payments
  • 7 Biggest Mistakes in Handling Accounts Receivables
  • How to Handle Sales Tax

Primary Sidebar

bottom line ad

Random

How to Decorate Your Email Signature in Gmail

Jan 27, 2023 By SmallBizClub

6 Ways To Optimize Work Schedules of Your Team Members

Jan 27, 2023 By SmallBizClub

Is Local SEO Worthwhile for Small Businesses?

Jan 26, 2023 By Annie Button

b2b-marketing-must-become-more-humanly-relevant

Building A Winning B2B Sales Enablement Strategy In 2023

Jan 25, 2023 By Michael Dunlop

employers-face-stiff-affordable-health-care-act-excise-taxes

5 Simple Tips Employers and Insurance Providers Need for 2023 ACA Reporting

Jan 25, 2023 By Stephanie Glanville

Footer

About Us

Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Copyright © 2023 by Tarkenton Institute, Inc. All Rights Reserved | Terms | Privacy