Get Annual Report Of Unclaimed Funds - Ohio Department Of Commerce ... - Com Ohio

Most states have a website that tells you how to find out if you have unclaimed money or property in that state. The best place to start may be to search the government website, the by state National Association of Unclaimed Property Administrators (NAUPA), or the multi-state database.

Contact the Division of Unclaimed Funds at 614-466-4433 or UnfdClaims.UnfdClaims@com.ohio.gov with any questions.

Ohioans may check for unclaimed funds online at http://www.com.ohio.gov/unfd/ or call 877-644-6823. Ohio uses a contractor, MissingMoney.com, that also allows searching unclaimed funds in multiple states.

The time frame varies depending on the property but in most cases it is three to five years.

The Department of Commerce Division of Unclaimed Funds reunites Ohioans with their hard-earned but forgotten money by taking reports of unclaimed funds that result when an account becomes dormant, holding these funds for safekeeping, and working to track down the rightful owner.

The time frame varies depending on the property but in most cases it is three to five years. One exception is payroll checks, which are only held for one year. The funds are then turned over to the State, which acts as custodian of the funds until they can be returned to the rightful owner.

Unclaimed funds are those assets where the rightful owner cannot be located. Typically unclaimed funds and property are handed over to the state the assets are located in, after a dormancy period has passed. When claiming unclaimed funds that have risen in value, taxes may be assessed at the time as ordinary income.

For most states, the dormancy period is five years. When property is officially designated by the state as abandoned or unclaimed, it undergoes a process known as escheatment, where the state assumes ownership of that property until the rightful owner files a claim.

After one year or more, those assets are unclaimed and go to the state. That money is lawfully protected and kept by the state to be returned to the owner rather than reverting back to the party who initially distributed the money. In most states, the money is generally held until the owner is found. Ready to search?