Unclaimed Money in the State of Georgia
In 1973, the State of Georgia passed the Unclaimed Property Act that now holds over $1 billion in escheated Georgian assets.
These government unclaimed funds can offer financial relief to its residents by reuniting lost assets with their owners, all at the cost of performing a simple unclaimed money search.
These properties are merely being held with the state and are thus nontaxable upon return to their lawful owners.
This act ensures any business holding abandoned property remits it towards the state after the maximum abandonment period of 5 years. The items include:
- Safety box contents
- Trust funds
- Insurance policy checks
- Deposit certificates
- Cashier’s checks
- Money orders
- Mutual funds
How to Claim Unclaimed Money in the State of Georgia?
All lost and unclaimed money that was forgotten, abandoned, or unacted upon during the course of normal business is compiled here.
The Department of Revenue in Georgia coordinates with the National Association of Unclaimed Property Administrators.
This program organizes money through all legally registered businesses, retailers, insurance agencies, government agencies, utility companies, and corporates and gathers all tangible and intangible assets that are dormant.
These unclaimed properties are made available to the citizens in a simple, straightforward, transparent process that is aimed at streamlining the process of recovering lost money. This obsoletes the need to personally interact with hundreds of separate organizations to regain lost cash.
No item less than $50 is escheated to the state. The state comptroller office serves as custodian of these items indefinitely until the legally authorized owner of the items, or their heir, arrives to collect said items.
Only real estate and automobiles are not held and protected under this act.
No fee or charge is levied for this service.
Georgia Unclaimed Money
The State of Georgia conducts several unclaimed money outreach programs to notify its citizens regarding unclaimed cash. Keep an eye out for media campaigns featuring lost and unclaimed money, newspaper ads that educate the public on how to get unclaimed money, and mass mailings informing citizens of the proper channels to go through.
If you’re wondering, “Any money owed to me?” then you might want to reach out towards any of the programs to file a claim. You will receive a claims packet with your name on it and be assigned a claims handler that will look into your packet to guide you further.
If you would like to know how to make a claim and get unclaimed money, proceed forward.
Follow These Steps
Find your state-sponsored registry
Georgia’s Department of Revenue maintains an online website that lists all the claims available in the state.
By simply entering your complete business name, personal name, or reference number, you can see any and all claims allotted to you.
For claims belonging to other states, the appropriate proof of address that is connected with said claim will need to be provided.
Provide your latest valid credentials to facilitate all claims, especially to facilitate complex claims wherein multiple parties stake out the same claim. The parties will have the sum divided evenly among them, in such events.
Prepare the right documents
After filling out your claims form, compile together and attach the following:
- Your notarized claim form with signature. (For claim amounts exceeding $1000)
- Copy of your Social Security card.
- Valid ID such as bank statements, utility bills or driver’s license listing the claim-appropriate state.
- Proof of address of the current location.
- Proof of address of the location connected with the claim.
- Proof of ownership.
- IRS Form W-2.
- Claim affirmation form. (In the event of shared claims)
Send your claim
The State of Georgia accepts online submissions. If you would prefer to contact them via phone or mail, contact them at:
Georgia Department of Revenue Unclaimed Property Program 4125 Welcome All Rd Suite 701 Atlanta, GA 30349 Telephone: (855)329-9863 Fax Line: (404)724-7013 Email: [email protected]
Wait for your claim to be processed
Claims might take anywhere from 60 days to 6 months to process, depending on the particulars of the claim. Processing mutual funds and insurance-related claims, for instance, take longer than regular claims. Once done, congratulations! You have now initiated the process of regaining your lost money.