1. Did Your Bank Recently Close?
Once a financial institution fails, the FDIC takes over and is responsible for paying insured deposits and the liquidation of remaining assets. If you did not claim your funds when the bank closed, you still can. “If your bank was never bought out by another bank, there is likely money out there for the bank account holder or power of attorney,” says Marcia Keppy, an unclaimed property expert and asset protection specialist. You can search for unclaimed funds in your name at www2.FDIC.gov/Funds/Index.asp.
2. Did Your Credit Union Fail?
When a credit union with federal insurance is liquidated, the National Credit Union Administration’s Asset Management and Assistance Center is responsible for paying the share accounts to members. Due to uncashed checks or incomplete addresses, some of the money remains unclaimed. If you think the National Credit Union Administration may have funds in your name, contact its Asset Management and Assistance Center at 512-231-7900.
3. Do You Have an FHA-Insured Mortgage?
Then you might be eligible for a refund from the U.S. Department of Housing and Urban Development. Find out if there’s a refund for you at HUD.gov/Offices/HSG/comp/refunds/index.cfm.
4. Are You a Former Employee of a Company That Went Out of Business?
If a company you worked for went belly-up, you may still be eligible for any pension earned while you were there. When a company goes out of business, the pension plan is generally transferred to the Pension Benefit Guaranty Corporation (PBGC). “The company should contact the former employees, but it just depends,” says Keppy. If the company doesn’t reach out to you, you can check the Missing Participants service at PBGC to see if any money is owed to you at https://Search.PBGC.gov/mp/mp.aspx.
5. Did You Not Receive Your Tax Refund Earlier This Year?
If you have not received your tax refund, it could be due to an incorrect address. There could be other reasons as well. “If you recently got a divorce or a close family member passed away, the IRS could still have an unclaimed tax refund on file,” says Keppy. Visit IRS.gov to claim it.
6. Could You Possibly Have Unclaimed Property in Your State?
Over $32 billion in unclaimed property is currently being safeguarded by state treasurers and agencies. Unclaimed property refers to accounts in financial institutions and companies that have been inactive or had no contact with the owner for over a year. It includes savings or checking accounts, uncashed payroll checks, certificates of deposit, stocks and more. Every U.S. state has unclaimed property programs that help find the rightful owners. “If you’re over 40 or if you’ve moved often, you’re more likely to have unclaimed property,” says Keppy. Also, if your parents have passed away, be sure to check their names. Go to MissingMoney.com to do a free search for money that might be due to you.
7. Do You Qualify for Government Benefit and Assistance Programs?
If you’ve been affected by a disaster or disability, need help with child care or health care, or require tax or living assistance, you may be eligible for financial assistance from the government. Go to GovBenefits.gov and search for specific benefits or take a questionnaire to find out which program(s) you may qualify for.
