General Questions
How Do Accounts Become Unclaimed Property?
What is unclaimed property?
Unclaimed property is an asset whose owner has disappeared, left it inactive, unclaimed, or abandoned it. Stocks, dividends, uncashed checks, deposits, credit balances, refunds, and dormant bank accounts are common types of unclaimed property. In addition to unclaimed property, abandoned safe deposit boxes in financial institutions also contain unclaimed property. Businesses or government entities (holders) hold unclaimed property assets for a set period of time, usually five years. In the event that the holder is unable to locate, re-establish contact with, and return the asset, it is reported to the Florida Department of Financial Services, Division of Unclaimed Property.
Why do the accounts come to the state?
A business or government entity (holder) must hold unclaimed property assets for a specified period of time, usually five years, under Chapter 717 of the Florida Statutes. In the event that an unclaimed asset can't be located, re-established contact with the owner, and returned, it is reported to the Division of Unclaimed Property of the Florida Department of Financial Services.
Are any efforts made to find owners? What if money is not claimed?
When businesses cannot locate the owner of unclaimed property, they must report the property to the Department along with the owner's name, last known address, and other information. Custodianship is provided by the Department for the State of Florida, but ownership never occurs. In order to notify owners of their property, the State uses various methods, including database searches. It is the right of every citizen to claim their property, regardless of the amount, at any time.
What does the State do with the money before it is claimed?
State School Funds are used to support public schools with unclaimed funds. It is, however, always possible for the owner, or his/her heirs, to claim the original amount.
Does the state pay interest on claims?
Florida Statutes Chapter 717 does not provide for the payment of interest on claims other than those reported and remitted to the Department.
Search for and Claim Unclaimed Property
What is the best way to search for unclaimed property?
Claimants may initiate the claims process (with instructions) for accounts they believe they are entitled to claim by searching the interactive database, available free of charge, 24 hours a day. It is best to search all known names (maiden names, married names, nick names) to get the best results.
You can search for unclaimed property by clicking here
Claim submission
How do I proceed after receiving my claim form?
Please read the claim form carefully, fill it out completely, and sign it. You will be required to provide documentation with each claim form. Your current identification, which shows your current mailing address, as well as documentation demonstrating your ownership of the account are required as documentation (but may not be limited to). Documentation requirements for your particular claim will be listed on your claim form. Mail the completed claim form with the appropriate documentation to the address indicated on the form.
Is it possible to prove that the account belongs to me?
To verify your ownership of the property, each claim form will specify what documentation is required. Names that are identical to those on accounts do not establish entitlement, as many people share the same names. Multiple claims for the same account(s) are often received by people with the same name. It is only through the submission of the required documentation that proper entitlement can be established. It may not be enough for you to present your identification alone. Depending on how the department received the information about the owner of the account, what documentation you are asked to submit may vary. In certain cases, you may be requested to provide documentation of your social security number, past addresses or proof of past connections or relationships with the entity reporting the account. You will also need to provide certified copies of official documentation establishing your ownership rights if you are the heir of a deceased account owner. Documents such as handwritten letters, letterheads, business cards, and Internet printouts are not acceptable.
How can I prove my identity?
According to Florida law, drivers licenses or other government-issued photographic identification are required. Please include other documentation (such as a current utility bill, etc.) reflecting your current mailing address along with your Identification and proof of ownership if your identification does not reflect your current address. Adding a certified death certificate for the deceased owner to the Identification of the person claiming the account is required if the account has more than one owner. The claim form must be signed by each claimant and identification must be provided.
In the event that the original owner of the property passes away, what happens?
Documentation (described on your claim form) is still required to prove ownership (described above). All heirs (or the personal representative if the estate remains open) must provide a certified death certificate for the owner, along with identification and signed claim forms. It is possible that additional documentation will be required based on the particular circumstances. Detailed information is provided in section 69G-20.0022 (3) of the Florida Administrative Code.
In the event that a claim is submitted
When will I receive my money?
A determination can be made by the Department within 90 days of receiving your complete claim package. It is common for claims to be processed sooner, but due to the large volume of claims received by the department, you may need to wait the full 90 days for your claim to be processed. If you would like to contact us, please wait until this time period has passed. Documentation may be extended if the original claim package does not include all of the required documents. It is important that you carefully read your claim form to ensure that all necessary documentation is provided. The missing information will result in your claim being delayed if your claim form is not completely filled out and all required documentation is not included.
Have you received my claim?
You can check if your claim has been received by the Department by clicking here.
How should I proceed if I have moved since I submitted my claim?
Please contact Customer Service if you believe your check may have been lost in the mail or if you wish to request a change of address. To make inquiries regarding your check or to notify us of an address change, you can also email us.
How do you handle a property whose original owner has passed away?
Documentation (described on your claim form) is still required to establish ownership (detailed above). All heirs (or the personal representative if the estate is still open) must also provide identification and signed claim forms, as well as a certified death certificate for the owner. The specific case may require additional documentation. Further details may be found in section 69G-20.0022 (paragraph 3) of the Florida Administrative Code.
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