Here Are Some More Things That Could Be Helpful For You!
If you haven’t checked for unclaimed funds, you may be eligible for a financial windfall. From unclaimed pensions to wills to bond payments and tax refunds that couldn’t be delivered, there are lots of ways funds can get caught up. In many cases, children and grandchildren may be eligible to claim certain unclaimed funds and assets from state and federal governments.
Moreover, you may even have unclaimed insurance payments that you’re eligible for. Thus, if you haven’t searched to see if you have unclaimed funds you can collect, now is the time to do so. Funds can range from a few dollars to entire bonds. Find out how you can locate unclaimed funds and get a payout as soon as possible with these tips.
Check With Your State
Your search for unclaimed funds should start with your state. Generally, states have online databases where residents can easily look up if any unclaimed funds are available in their names.
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As an example, if you paid a deposit on water services but then moved and failed to reclaim your deposit after ending your service, the deposit may have been sent to your local government. You can find such payments through your state’s database.
If you’ve moved between states, you can use a multistate database to look for unclaimed funds in both places. Additionally, if your legal name has changed, make sure you search for funds under all names you have ever legally used.
If you locate any unclaimed funds, you should research what the state procedures are for reclaiming them. The steps you need to take may differ depending on what kind of funds you locate and which state is holding the funds. In some cases, you can claim smaller amounts online, but must file by mail or in person to obtain larger sums of money.
There are two main approaches that consumers take when getting free credit reports. You can request reports from all three bureaus at one time to see how the scores vary slightly (as they often do). Otherwise, you can spread out your requests throughout the year to track your credit increases or decreases every few months.
Search for Insurance Documents
If you suspect you have unclaimed insurance benefits, you may need to dig through paperwork to figure out how much you are eligible for and what company owes you money. You may also be able to find some undistributed insurance payouts online.
For instance, if a family member was a veteran, you can use the Veterans Affairs’ life insurance database to determine if you are eligible for any life insurance payouts. If you are, you can start a claim and begin the process to obtain it.
If you obtained a mortgage backed by the federal housing authority, you may be eligible for a refund on mortgage insurance required by the program. You can use a database provided by the Department of Housing and Urban Development (HUD) to search for these refunds. You may need to provide financial documents in order to claim certain payments.
Check the IRS Database for Refunds
If you have ever moved around tax time, it’s possible you may have missed tax refunds mailed to you by the Internal Revenue Service (IRS). If you think you might have unclaimed tax refunds, you can check the IRS database online.
However, you should have a generally clear idea of how much you are owed to perform the search. When claiming tax refunds from the IRS, you should be able to provide your Social Security Number, your filing status and the total amount of the refund. If you do not know how much the IRS owes you in refunds, you may need to contact the office directly for more information.
To claim your return, you must file tax return documents. You will need your financial information such as your income and previous tax returns to determine what your return should say. It is important to do this as soon as possible, because there is a three-year deadline for claiming refunds. Any refunds you do not claim within that three-year time frame go to the federal government instead.
See if You Have Any Unclaimed Bank Refunds
One final source of unclaimed funds is banks and investments. For instance, if a bank that you previously had an account with closed while you still had funds in your account, it should have returned the funds to you. However, in many cases, whether due to outdated contact information or negligence on the bank’s part, those funds are never received.
Additionally, many individuals may take out government bonds or purchase stocks and never follow up. In that case, you may be eligible for stock dividends or bond payments without realizing it. Therefore, make sure to search for unclaimed payments through the Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC) and more.
Avoid Getting Scammed
If you’re searching for unclaimed funds, it is important to be diligent and confirm that you are dealing with official entities. For instance, if you are claiming government funds, the website you are claiming it through should generally have a .gov URL and be secure. If the website is not secure or is not a .gov link, it may be a scam.
Additionally, many individuals or corporations may contact you offering to help you find and receive unclaimed funds. However, they may charge you for the service. Some companies may charge 10 percent or more of the unclaimed funds to help you receive them.
In most cases, these services are not necessary. Otherwise, they may be outright scams, stealing your personal information and then claiming the funds in their entirety.