Indiana Unclaimed Money information.
What is unclaimed property?
Any financial asset with no activity by its owner for an extended period of time is considered unclaimed property. This includes savings accounts, checking accounts, unpaid wages or commissions, stocks, underlying shares, uncashed dividends, customer deposits or overpayments, certificates of deposit, credit balances, refunds, money orders, mature life insurance policies, safe deposit boxes, uncashed benefit checks, etc. Unclaimed property does not pertain to land, houses or real estate of any kind.
How does property become unclaimed?
In accordance with Indiana law, property becomes "unclaimed" when the holder of the asset, after a legally specified period, is unable to find or contact the owner.The law requires business entities and others to review their records each year to determine whether they are in possession of any abandoned funds, securities or other property that is reportable and to prepare an annual report of abandoned property.
How do people lose track of their assets?
Individuals or businesses may lose track of assets if:
- A change of residence or business relocation occurs and an updated address is not provided, or an account or deposit is simply left behind.
- A check is received and accidentally discarded, lost or forgotten.
- A rightful owner dies and relatives are unaware of a bank account, safe deposit box, or stock owned by the deceased.
- Notification of a divorce or marriage is not provided.
- A clerical error at a company alters a former employee's name or address, resulting in returned mail.
Why does the State become involved?
The courts have long maintained that states' rights are derivative of the missing owner. In other words, the state stands in the shoes of the missing owner.How long do I have to claim my money?
In general, the state of Indiana holds funds on behalf of the rightful owner for 25 years.What does Indiana do to find the owners of unclaimed property?
The Office of the Indiana Attorney General publishes the names of all unclaimed property owners (as reported by the holder) in newspapers across the state, broken up by county. According to state law, properties turned over in a given calendar year must appear in the newspaper by November 30 of the following year.
In addition, there is a search mechanism on the IndianaUnclaimed.com Web site that allows anyone to search for unclaimed property 24 hours a day, 7 days a week.
To raise awareness of the Unclaimed Property division and to drive Hoosiers to IndianaUnclaimed.com, the Office of the Indiana Attorney General advertises statewide using TV, radio, print and billboards.
The Office of the Indiana Attorney General also participates in outreach programs and special events to increase awareness of unclaimed property and to encourage people to search and claim via IndianaUnclaimed.com.
How long will it take to receive my unclaimed assets?
Please allow up to 90 days for processing of your claim and delivery of your assets.How do I submit a claim?
Step 1: Enter your name in the search field.Step 2: When the results are returned, place a check mark in the box next to the property you want to claim. You may select more than one.
Step 3: Click " Add Checked to Claim. "
Step 4: If all of your properties are listed, click " Continue ".
Step 5: Select your relationship to the property owner. click " Continue ".
Step 6: Complete the claim form. This may say standard claim, business claim, or quick claim . Complete all of the required fields.
Step 7: Click " Continue ".
Step 8: Verify your information. If everything you have entered is correct, click " Approve ".
Step 9: Once you have approved your claim, you can choose to " Print your claim now " or " Save and print later ".
