Unclaimed Money in the State of Arizona
Unclaimed Money in Arizona is any intangible property that is owed, issued or held in the regular course of a person’s business but has stayed unclaimed for a certain period of time after this asset became distributed or payable.
Examples of lost and unclaimed funds include:
- Matured certificate of deposit.
- Checking and savings accounts.
- Vendor checks.
- Outstanding payroll.
- Escrow balances.
- Unused security deposits.
- Uncashed traveler's checks, money orders, official checks.
- The principal on debt.
- Property held by government entities.
Currently, there are more than $1,534,930,705 billion dollars in unclaimed cash in Arizona. This amount belongs to more than a million citizens! A person who lives or has lived in Arizona State has a 1 in 7 chance of discovering success in an unclaimed money search.
How to Claim Unclaimed Money in the State of Arizona?
Now you can get unclaimed money in the State of Arizona by conducting a simple search on the Arizona Department of Revenue website Search https://azdor.gov/unclaimed-property/resource-center/about-unclaimed-property.
This state has laws regarding unclaimed cash including government unclaimed funds because they serve to protect consumers. The state government acts as a custodian for any money owed to me. These laws make a full attempt to return this unclaimed property to its rightful heirs or owners.
As a result, several attempts are made to locate the unclaimed funds’ owners. Once any unclaimed property is reported to the Arizona Department of Revenue, the owner’s names are published online. Staff members are assigned to work towards reuniting owners with their funds.
Follow These Steps
- Start by performing an unclaimed money search on the Arizona Department of Revenue website https://azdor.gov/unclaimed-property/resource-center/about-unclaimed-property.
- If you do find unclaimed money that belongs to you, a claim form must be filed. Having a name similarity isn’t sufficient for learning about the type of property that is owed to you as well.
- A notarized claim form along with a copy of your photo identification must be submitted to The Arizona Unclaimed Property Unit.
- Your social security number and address must be provided to seek a match.
- If you do not provide your social security number for the unclaimed property, your claim request may be denied.
- You must provide proof that you are living or have lived or have received mail at the address provided to the State of Arizona as the last stipulated address of the owner.
What are some examples of address proof?
- College transcript
- Auto registration
- Court documents
- Bank statement
- Stock certificate
- Birth certificate
- Marriage certificate
- Report Card
- Canceled check
- Divorce Decree
Arizona Unclaimed Money
Unclaimed property is reported to the Arizona Department of Revenue by many organizations. This is a legal requirement of all organizations. All unclaimed property must be reported on an annual basis. Arizona State Law addresses many types of unclaimed property such as payroll checks, bank accounts, credits, etc. Safe-deposit box contents are the only tangible property that is covered by this law.
The property will become unclaimed or abandoned if the holder is unable to contact the perceived owner for a period of 1 to 3 years from the last date of the transaction. The duration depends on the type of unclaimed property it is.
Special note about safe deposit boxes:
Contents in a safe deposit box or other safe-keeping depository are deemed abandoned when are unclaimed by an owner for more than 3 years after the rental period or lease term on the deposit box has expired.
After this period has lapsed, the contents are handed to the State of Arizona. Here they will be held for an additional two years. After this period has passed, a notice of sale with the value of the items is published, to be sold at a public auction.