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Unclaimed Money Maine

Unclaimed Money Maine

What Is Maine Unclaimed Money?

Unclaimed Money in Maine refer to financial assets transferred by local and national businesses and other organizations to the state Treasury. The financial assets are assumed to be abandoned if the asset owner does not claim them within a specific time frame (also known as the dormancy time). These financial assets are travelers’ checks, money or credit due, commissions, bonuses and wages, money orders, and reimbursements, among other things. According to article 2061, under Maine’s Revised Unclaimed Property Act, various unclaimed funds have different dormancy periods. Examples of various types of unclaimed property and their duration of inactivity include travelers’ checks for 15 years following their release or the money order 7 (7) years after the date of their issue, as well as wages that are 1 (1) year after they are due.
Maine State Treasurer’s Unclaimed Property Program is responsible for taking care of properties not claimed by the state until their owners or heirs are taken over. The state’s Revised Unclaimed Property Act dictates how properties with no claims are dealt with and the time frame for assets that the state has not claimed. If a financial investment is dormant and has run out of time, the State’s Unclaimed Property Act requires that it be reported to the state Treasury. Then, the state Treasury would include it on an official list of unclaimed funds, which is accessible to the public.

How To Find Unclaimed Money in Maine?

In the State Treasurer’s Unclaimed Property Program database, anyone can look up unclaimed funds and properties in Maine. The database includes information about ten or more million dollars worth of assets that are not claimed and reported to the state Treasury every year. 
To search, those interested in the public must fill in at least one input field on the page. Five distinct input fields are available on the search page: business or last names, first names, zip codes, city, and property IDs. For best results, prospective customers are encouraged to include the previous/business name and First Name’ in the case of the money they have not claimed. The person who has not claimed the funds might have received a notification of their property’s ID number (PID). In that situation, they should enter this number within the ID field, leaving the remainder in the blank. 
As an alternative, general unclaimed money inquiries may be made by email at up.generalinquire@maine.gov, by phone at (888) 283-2808, by fax at (207) 287-2367, or in person or by mail at:
Office of the State Treasurer
39 State House Station
Burton M. Cross Office Building, 3rd Floor
111 Sewall Street
Augusta, ME 04333-0039

How to claim unclaimed money in Maine

There are generally four steps to file a claim for money that is not claimed in Maine. 
Step 1: Search for properties or money that are not claimed: 
Utilising the unclaimed property program, the search site (link above), users of the public can look up unclaimed funds or assets held by the Treasury of the state. The search page has five (5) input fields available, the first of which is “last or business name,” which must be filled in to conduct the search. Other input fields could be filled out to narrow the results of the investigation. The input fields are the owner of the money who has not been claimed, their initial name, city zip code, city name, and the property’s ID. If an inquirer finds an item(s) that belongs to them, they can hit the claim button at the top left of everything to choose the item. After selecting the appropriate item(s) for further action, the person can choose the Continue to File Claim button near the bottom of the results to start the claim process. 
Step 2: Apply. After clicking continue to claim 
 it will take the claimant to a page for review where they can review the claimed item(s) they had previously chosen. For every object, the person requesting the information (claimant) will need to decide on their relationship with their item(s) owner(s). In this regard, seven (7) choices are available to select from, including self-sole, personal representative heir, business owner open, the closing of business owners, lawful representation, and trustee. Near the bottom of the page is the title claimant relation description. Each option is described in depth. After each item(s) is examined and the owner relationship is selected, the claimant can click on the button for file claim to go to the claimant’s information page. 
On the page, for claimant information, The claimant will need to input their primary details. The information required includes the type of claimant (business or personal), name and date of birth, address address, telephone number, Social Security number(SSN)/tax ID address, country cities, and states, along with the ZIP code. After filling in the required details, the applicant can select the Next button on the left or right of the page. Also, an Additional page (address suggestion) will pop up to confirm the address given. This will ensure that the address given by the person claiming the benefit is an actual address for mailing, as it is where the money will be sent. After that, the claimant will be required to examine the item(s) they are claiming along with the primary information provided. If the information is correct, the claimant can examine the terms and condition checkbox and then fill in their name and initials to accept, then hit” Submit. This will create the claimant’s claim and also generate their claim number. 
Step 3 – fill out the claim. 
An email will be delivered to an email address supplied to the claimant. In this email, the additional information required to approve the claimant’s request will be included on an application form. It could be an image of proof of photo identification, like a driver’s licence or a social security number. To claim the money, the necessary documents will have to be sent in the direction of the Office of the State Treasure at:
Office of the State Treasurer
Attn: Unclaimed Property
39 State House Station,
Augusta, ME 04333-0039
Step 4: Track the progress of your claim.  
Utilising the claim-status-search website, claimants are able to enter their claim ID on a regular basis to see the latest state of their claim. A claimant’s claims ID is listed on the claim form within their email after submitting their claim. If a claimant is unable to remember or loses the claim number, they should get in touch with the division for unclaimed property.

How Do I Find Unclaimed Money For Free in Maine?

Maine’s State Treasury Unclaimed Property Progam search page is completely free to use. Apart from the state’s non-claimed property program, various federal agencies can keep various kinds of unclaimed cash for some time or indefinitely until they are returned to their proper owners. Federal agencies also offer different online databases for free that are searchable by the general public to locate unclaimed property and money. These databases and their national agencies are: 
  • Unpaid wages. If the employer violates laws governing labor, The Department of Labor (DOL) Wage and Hour Division may assist employees in recovering lost wages. The wages are then added to the DOL database for up to three years following the recovery. If, after three years, the employee hasn’t been identified or has not claimed the not paid wages, the money is sent to the U.S Treasury. To begin a search on DOL’s database, click here. DOL databases, workers, can be searched using the names of the employers they work for. They could filter the results by state. For more information regarding the database, for more information, the Wage and Hour Divison may be reached at 1-866-4 US-WAGE or ((866) 487-9243). Alternately, any of their offices in the local area can be visited from Monday to Friday, from 8:30 a.m. until 4:00 p.m on the spot. 
  • The money from insurance Former and current policyholders or beneficiaries of policyholders to whom the U.S Department of Veterans Affairs is owed unclaimed insurance funds can get these funds at no cost by using the VA life insurance fund database. The database comprises the funds of insurance programs, such as insurance policies like the United State government life insurance, the national life insurance program, Veterans Special Life Insurance, Veterans Reopened Insurance, and Service-Disabled Life Insurance. It is important to note that funds not claimed from the Servicemembers’ Group Life Insurance (SGLI) and Veterans Group Life Insurance (VGLI) policies that date back to 1965 until today are not part of the database. In the database, searches can be done by entering the name of a veteran. 
In the event of non-claimed FHA-insured funds, interested parties could look up through the U.S Department of Housing and Developments (HUD) database. FHA Insurance funds were given through the HUD department to individuals (or their beneficiaries) who FHA insured for a mortgage. Customers can look up the HUD database for free using their case numbers – like 042-587189. 
  • Tax refunds are money deposited with the Internal Revenue Service (IRS) offers a number of free methods that undelivered or unclaimed tax refunds can be retrieved. The inquirer can look up the information about their refunds via their account on the internet or download the IRS2Go app or access the refund status online portal. The information that inquirers will require using one of the methods mentioned above are your SSN or ITIN and the exact amount of their refund, and their status as a filer. 
In addition on, the official site of the United States government provides a helpful resource page on the different types of unclaimed cash that can be located and the best way to claim them.

How long does it take to get unclaimed money in Maine?

In Maine, claims for money not claimed can be processed in a couple of weeks. The item claimed would be given to the owner. However, the procedures required to process claims for estates and stock properties can be complex and can take longer. Additionally, by using the claim number, the claimant can track the progress of their claim via the portal that tracks claim status (link in the above link).

Can you claim unclaimed money from deceased relatives in Maine

When the person who owns the unclaimed asset passes away, the best individuals who could be able to file a claim for the unclaimed assets are the survivorship spouse, personal representative, or their immediate heir. The Maine probate law defines an immediate heir as a person (including the spouse who is surviving) that is entitled to the property of a descendant as per the statutes of intestacy succession.
In order to claim, the person entitled must fill out or submit an affidavit as well as an agreement confirming the claim for the deceased, unclaimed asset with the claim form. Based on the specifics of the case additional documentation may be required. In that case, these documents can be required in written form. It is important to note that checks are usually issued for the death of the person who died, but not to the applicant.
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