Unclaimed Money Act
Finding Your Name on the Unclaimed Money List
All names that appear on the Unclaimed Property List are shown exactly as the business reported them ( e.g., a name may be shown with only a first initial or a last name may appear without a first name). The state of Idaho has no additional information available on these names but may have other reported data about the account to help identify the owner . Possibly, a street address, Social Security number, or account number was reported by the business. The unclaimed property office can be contacted to find out if this information has been provided.
Some Types of Unclaimed Property Are Reported Without Names
Cashier's checks, money orders, and traveler's checks are a few examples of the types of unclaimed property reported without names. The business does report the check or money order number, date of purchase, and the dollar amount. Therefore, you will need to contact the unclaimed property office with this information to claim the funds for these items.
The owner of the cashier's check is assumed to be the payee indicated on the check unless the purchaser has the check in his possession. Claims for money orders may not be approved unless the original money order is provided as documentation.
Idaho Does Not Charge A Fee to Claim Property
Unlike heir finders or locators who charge the owner a percentage of the property as a fee for their services, the state of Idaho does not charge a fee. There may be some costs associated with providing documentation for your claim. For example, copies of death certificates, birth certificates, and marriage licenses may need to be ordered from the Bureau of Vital Statistics .
If you can't provide the original stock certificate, it may be necessary to pay for a lost instrument bond. The unclaimed property office will send you a lost instrument bond application for you to sign in the presence of a notary public and return to our office. It will be sent to the insurance company that administers our bond program. They will bill you for the bond premium, which is based upon the value of the stock.
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Proving Your Right to Claim the Property
It is the sole responsibility of the claimant to provide proof that he is the rightful owner or heir, beneficiary, or estate administrator legally allowed to claim the property. Idaho's Unclaimed Property Office acts as a custodian of the unclaimed property and is obligated to ensure that payment is made to the correct person(s) . In most cases, we take the same precautions that the original business would take to reissue a check or to release the property.
Power of Attorney
A person holding a power of attorney, acting as a representative for the owner, may make a claim on the owner's behalf. On the claim form, the representative must provide his Social Security number and signature. In addition to the claim form, the representative must submit his photo identification and a power of attorney completed by the owner . The owner's Social Security number and documentation proving the right-to-claim the property is also required.
A power of attorney is no longer valid when the person you have been representing is no longer living. However, you may be able to claim the property as an heir, beneficiary, or administrator of the individual's estate.
Instructions for Filling Out a Claim Form
You are required to provide your Social Security number on the unclaimed property claim form. Business claimants should provide their federal Employer Identification Number (EIN). The claim form must be signed and some type of personal identification must be returned with the claim form. A claimant may send a photocopy of a driver's license, state issued I.D. card, passport, or other official identification, which includes a photo and a signature.
