When refunds are made, most of them do not reach the owners because of many factors. Some are because of the change of names, others because of movements and relocations, while others are because of addresses that no longer exist. In the end, such funds lay unclaimed in bank old accounts, forgotten retirement, and pension plans, and tax refunds waiting for legal owners to show up and claim the funds. When you know the places where you can find the funds, you can look for your funds and locate them. Below are some places where you can find unclaimed funds.
STATE DEPARTMENTS OF TAXATION
Several state tax refunds never get to the rightful recipients because most of them change their addresses over time and therefore are no longer in locations they were before. If you want to know whether you have some unclaimed funds, you can check on the website unclaimed.Org. The website will open to where you can access information about the unclaimed funds. It would be best if you searched in all states where you have had an address as some funds may be lying in one of the addresses with no one to claim them.
Some people who have funds in the unclaimed state taxation accounts are unaware that they have such funds. Therefore, it is advisable to check-in state-owned stores whether you could have funds you are not even aware they exist lying in the unclaimed assets.
INTERNAL REVENUE SERVICES
Each year there are millions of dollars in checks which are not delivered to their owners. People change addresses and never notify all the departments that need to know about the change. Sometimes people change their bank accounts, and they do not communicate such changes to the internal revenue services. As a result, checks that are supposed to be deposited in their accounts never get deposited. That is because the narratives do not correspond.
EMPLOYER RETIREMENT PLANS
People often change jobs without giving a thought about the small balances on their previous employer retirement plan. With time the balance grows to a substantial amount without the owner knowing anything about it. If the owner does not think about such a balance, it remains unclaimed in the employer retirement plan.
If you suspect that you may be having such credits, the National Registry of Unclaimed Balances can help you locate your funds. You can also trace some money off your loved ones who have since departed and left balances without informing the beneficiaries.
FAILED PENSION PLANS
Sometimes people work for companies whose pension plans fail and leave the employees thinking the money is lost. The Pension Benefit Guaranty Corporation, which insured the pension plan, may owe you some cash, and you are not aware. Although it may not be the amount of pension you would have thought, it will be something worth claiming. When searching for such funds, you need to use the Pension Benefits Guaranty Corporation website and see what they have.
LIFE INSURANCE POLICIES
Life insurance policies, more often than not, go unclaimed for some reason. If you had a relative who passed on, you might not be aware of some life insurance benefits for you. Do not assume everything and let unclaimed balances slip away without you claiming them. The best place to find out about this is at demutualization-claims.com. Other than taking everything and allowing funds to slip away, consider researching and finding the actual position.
OLD BANK ACCOUNTS
It is possible to find that you have some unclaimed balances in old bank accounts that may receive some insurance premium refunds. Your old accounts could also receive some utility or phone account deposits or any other finds like dividends. If you suspect that your old accounts could still be holding some funds, log on to missing money.com and find out.
Other sites that can help you include the Bureau of Fiscal Services, where you can find information about lost, stolen, or destroyed items. Also, sometimes, you may earn some reward points from credit cards without you noticing it. These funds, if unclaimed, are recorded in the reward center. All you need is to log in to your account and check the rewards center for any unclaimed rewards.
It is essential to check all the possible areas where you could be having some unclaimed funds that you may not be aware of and claim. You will be surprised to come across some millions of dollars that you do not know of their existence.
