USTaxTips.net - Unclaimed bank balances

USTaxTips.net US Tax and Financial Information		Find Your Unclaimed Balances		USTaxTips.net does not research or endorse any product or service appearing in ads on this site. Before making a major financial decision you should consult a qualified professional. Copyright © 2009

It's hard to believe, but people forget about funds that they have on deposit in banks, trust companies and loan companies. They also forget to notify banks, brokers, and others when they have a change of address, or a change of name due to marriage, divorce, etc.

A free searchable database is available at MissingMoney.org. The database provides access to unclaimed property in most states.

The National Association of Unclaimed Property Administrators (NAUPA) provides links to databases for all 50 states, the District of Columbia, a few Canadian provinces, and Guam and Puerto Rico.

The US government also has a web page Government May Owe You Money, with links for

	checking the status of your income tax refund
	checking to see if you have an undelivered tax refund
	searching for unclaimed pension money from companies that went out of business or ended a defined benefit plan
	recovering lost, stolen or destroyed bonds
	unclaimed property, and many other helpful items.

In order to avoid any of your assets becoming part of the massive unclaimed property amounts, it is important to:

keep good records of

bank and savings accounts

investment/brokerage accounts

stock certificates, if held personally

any deposits paid, such as utility or telephone deposits

insurance contracts

deposit or cash all checks as soon as possible after receipt

keep a list of accounts that would have to be notified of a change of address. This list is also invaluable to the executor of your estate, so make sure they have access to it.

notify everyone on the list promptly if you change your address, or if for some reason your name changes.

Tip: Keep good records, so if something happens to you, your heirs will find all your assets!

Revised: February 20, 2009

The information on this site is not intended to be a substitute for professional advice. Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage.
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