Unclaimed Money in Mi: Did you know that every state in the United States has a special fund that holds long-forgotten, uncollected property owned by its citizens? Missouri residents are entitled to a portion of the unclaimed money in the state’s Treasury, which totals around $1 billion.
You may have stocks or inactive accounts that you forgot to pay, and you could be one of the lucky owners. We will show you how to track down your money and claim it in Missouri.
What is Unclaimed Money?
If financial institutions or business owners cannot contact the people holding the money, they must report it to the government. After the money is written, it goes dormant for some time. In Missouri, it’s usually five years. The state then takes over the money and declares it abandoned or unclaimed.
Is there a deadline for claiming your Missouri property?
There are no time limitations for obtaining the funds that you legally have. If you discover that you have unclaimed funds linked to your name or the former state where you live, you can file a claim at any time and get your property back. The state holds the funds until their owner claims them.
What is considered unclaimed money?
People leave behind all kinds of funds. Most people leave behind uncollected assets, also known as intangible property. Unclaimed money also includes tangible property, such as safe deposit box contents.
Below are some examples of tangible and intangible assets.
|Tangible Properties||Intangible Properties|
Why don’t Missourians collect their unclaimed funds?
These are the top three reasons the original owners didn’t receive all the millions in the state treasury.
- They don’t know that their unclaimed money exists. They forget about their old/inactive banks or update their contact details so the fund-holders won’t be able to track them down. They may be inheritors if a relative dies, but they are unaware.
- They know the uncollected funds but don’t know how or who to contact regarding the claim procedure.
- Sometimes people familiar with collecting abandoned funds don’t see it as an easy task. It’s not worth it, especially if there isn’t much money left.
Regardless of which reason applies to your case, it is essential to remember that many options are available to get the funds you need and that you can always choose what works best for you.
How to Collect Missouri Unclaimed Money by You
Searching through the Missouri State Treasurer’s unclaimed funds database is the best way to determine if you have unclaimed property. The State Treasurer’s unclaimed money database contains the most current records of all state-owned unclaimed money owners. There are two ways to check this data collection.
- Via the official website of the State Treasurer
- Via letter
The Treasurer’s website allows you to claim your Missouri lost money.
The website of the State Treasurer is comprehensive and easy to use. You can search for uncollected funds online and file a claim online. Follow the below instructions to do this:
- Go to the Missouri State Treasurer’s official website. Select the Unclaimed Property tab and then choose the Search for Unclaimed Property section
- Click Enter to enter your full name into the search box
- Browse through the results, and click on the Select button next to each property you are interested in. Then, hit the File a Claims button
- Answer the questions and provide your Social Security Number. Click on Next
- Send the claim and attach the documents necessary to prove ownership
Missouri Property Claiming via Letter
If you don’t know how to use online databases, you can ask the State Treasurer to search their records to find any funds that have been lost under your name. Send a letter to this address:
Missouri State Treasurer
P.O. P.O. Box 1004
Jefferson City, MO 65102-1004
If officials from the Treasury manage to locate money or property belonging to you, they’ll send you an email with the claim form. A list of all documents that you need to submit will be sent to you. This documentation is required to confirm that you are the legal owner of the money.