South Dakota holds millions of dollars worth of unclaimed funds. Although it is difficult to estimate precisely how much, they have returned $62,000,000 since 2015-2018. This means that you can be sure that it is a lot.
Unclaimed funds are intangible property that is not claimed or abandoned. It is a specific obligation that a company holds for another person or company.
This includes checking and savings accounts, certificates, deposits, overpayments, insurance, and payroll checks. Money orders include uncashed bills, dividends, and stocks—bonds and contents of safe deposit boxes.
If funds are not being used within the specified time frame, such as three years for most properties, or if the owner cannot be located, they will be considered abandoned.
Keep your accounts active to ensure they are not unclaimed or abandoned. Make a deposit, withdraw, update your contact information or call your financial institution every three years.
Searching the internet database is the best way to locate unclaimed funds from South Dakota. You will have the most current information available and can claim them as soon as you receive reports from holders.
You have until the deadline to file a claim. Unclaimed funds are held in custodial custody until the rightful owner/heir claims the property.
Certain property types, such as stocks or safe deposit boxes, may have fees. Inquiring about a property and filing a claim is free. Unpaid rent or drilling fees may be due on safe deposit boxes handed over by financial institutions. These fees must be paid before the contents can be released. Stock transactions may come with additional charges.
A claim usually takes between two and three weeks to process. You should contact the office if you are still waiting to receive a response from the unclaimed fund division within three weeks.
For any questions, you can call the Unclaimed Property Division at the Treasure’s Office:
(866)357-2547 in-state toll-free or (605)773-3379 or email at firstname.lastname@example.org.
Did you know you can make money by finding unclaimed money for others?
This is possible with a small business. Unclaimed money finders help people locate and recover the money they don’t know is there.