Did you know that nearly 33 million U.S. residents – or about one in seven – are estimated to owe unclaimed assets? This means that you could be one of the lucky ones who can claim some of the Alabama unclaimed money, which amounts to about $1 billion worth in unclaimed assets for Alabama alone.
Unclaimed property includes financial accounts or items of value in which their owners have not taken any steps in several years to activate them. If no trace can be made of their owners, the money or property could eventually be given over to the state.
This year’s tax refunds may be smaller; how much less money are we expecting back?
According to Alabama Office of State Treasurer, examples include unpaid life insurance benefits, payroll payments and forgotten bank accounts or deposits from utility companies.
State Treasurer Young Boozer recommends people visit the unclaimed website on their birthday to check for unclaimed money that might belong to them.
Boozer reminded the crowd: “That is an easy way to remember, and we might even have something in unclaimed property funds waiting for you.”
Searching for unclaimed property is free of charge in Alabama; any unclaimed items will be returned without incurring a charge. Visit Treasury.alabama.gov to search by name, business, family members or even property type – every search is completely free.
