Unclaimed Money in the State of Arkansas
A government is much more than the people who man its various departments. A few decades ago, the functions of governments included only the collection of taxes and spending them towards a limited number of welfare measures for the citizens. But now, there is a manifold increase in the expectations of the citizens and hence, governments are looking for various new ways to fulfill them.
Of course, there are separate departments or ministries in the governmental setups for taking care of the finances and the expenses that are made for fulfilling the needs of the citizens. The USA has a separate department for handling the finances of the government. Similarly, the states of the USA have separate departments for handling their finances. The Treasurer's office is a part of this setup.
The Treasurer's Office, apart from handling the finances of the states, is the custodian of their unclaimed money also. Let us now look at as to how to claim such unclaimed money in the State of Arkansas.
Arkansas Unclaimed Money
According to an estimate, millions of dollars of money and assets are lying as Arkansas government unclaimed funds. This unclaimed money is in various forms that include bank accounts, mutual funds, bonds, stocks, utility deposits, non-cashed payroll checks, traveler’s checks, and contents of deposit boxes. Ironically, many of those who own this money are not even aware that such funds and assets exist.
It is the auditor of the state of Arkansas who is taking care of the administration of this unclaimed cash and assets that are kept in a trust. But once the owners submit their genuine claims, the state will distribute the money and hand over the assets to them.
No state in the USA has the resources or the wherewithal to investigate, find the owners and hand over the unclaimed money or the assets. Arkansas is no exception. Hence, the state expects the individuals or the relatives, family members, or friends of the owners to prefer a claim for getting back the unclaimed money or the asset. But for making things easier for such owners, the state advertises the names of the owners of the funds or the assets in the local newspapers.
Since most of the owners themselves do not even know that they own such unclaimed money and assets, professional service providers try to locate them and help them get back their money or assets. Of course, these service providers charge a commission or fee for this. Those who do not want to take the help of such service providers can claim the money or assets themselves.
How to Claim Unclaimed Money in the State of Arkansas
Follow these steps.
Arkansas law requires every business in the state to check their documents and records every year for determining if they have any unclaimed funds or assets. Once they find this out, they should file reports with the Unclaimed Property Section of the Arkansas Auditor office. Filing of the reports should be done before the 1st of May every year.
- If you suspect and ask yourself the question "Does the state have any money owed to me?" you should search your name by visiting the Arkansas Unclaimed Property search or Arkansas unclaimed money search website.
- If your name is there in the list, you should click on the particular item. By doing so, you will get directed to the page wherein you can get the details of the unclaimed money or asset.
- It is at this point in time you will be able to file your claim online. You should choose the option “Print a Claim Form.”
- You can complete the claim form and return it after signing it and getting it notarized. The documents you should send along with the claim are copies of documents for proving your identity and address and the details of your Social Security Number.
- You must address the letter as follows to get unclaimed money.
Arkansas Auditor of State
PO Box 251920
Little Rock, AR 72225-1920.
This is how you can get your Arkansas lost and unclaimed money back.