What Is Texas Unclaimed money?
Texas unclaimed money funds refer to assets the owner has not claimed or exercised power to claim ownership of after an agreed-upon period expires. When assets are left unclaimed for more than a year, Texas' Uniform Unclaimed Property Act requires the financial institution's custody of the money to the state government or agency designated as an owner. The entity responsible for storing Texas unclaimed money includes the Unclaimed Property Division of the Texas Comptroller's Office. Transferring money to a governor of the state is known as"escheatment.
The Texas Unclaimed Property Division serves as a temporary custodian of property unclaimed in Texas comprising tangible and intangible assets such as cash, cash equivalents, and other cash assets. The division maintains the assets until a legitimate claimant applies. When this happens, the agency has to turn over the unclaimed funds to its owner rightful as well as any interest accrued during the escheatment time.
How Do I Find Unclaimed Cash in Texas
The Division of Unclaimed Property maintains a publicly searchable database that those looking for Texas unclaimed money can use. Persons interested in using the database must type their names in the search field and view the results on the government list of unclaimed assets. Name-based searches will produce an information table that includes a property or claim I.D., the correct owner's name and address, as well as the contact information of the owner. Searchers in this database can also expect to see what is claimed and the exact year when the money has been reported as not claimed.
Unclaimed funds throughout the United States are public and are accessible to anyone via official or non-governmental services. Third-party websites searching for unclaimed money are user-friendly, give quick results, and are not subject to geographic restrictions. It is common for users to search for unclaimed funds through third-party search websites with just a full name or business name. However, because these sites are not government-sponsored, the availability and accuracy of results can vary.
How Do I Find the Unclaimed Money For Free in Texas?
Aside from the Division of Unclaimed Property, other federal agencies also maintain various information databases Texas residents can access to find money that is not claimed for gratis, ranging from due back earnings to tax refunds from the federal government.
Unclaimed Texas Tax Refunds
The business and the individual who earn their income in Texas must pay tax on state income. Certain expenses and purchases are also taxable. This tax-paying requires the careful examination of one's finances and income, and it's commonplace for taxpayers to overpay. When this happens, the Texas Comptroller of Public Accounts compensates the taxpayer for the difference. However, it's normal that tax refunds not be claimed for various reasons. Taxpayers' families and relatives of taxpayers from Texas can verify and submit unclaimed tax refunds to the state by following the directions and submitting the required documentation.
Lyndon B. Johnson State Office Building111 East 17th Street
P.O. Box 13528, Capitol Station
Austin, TX 78711-3528
Salary and back wages that are not paid
The U.S. Department of Labour's Wages and Hours Division investigates the exploitation of wages and cases of non-payment. The division also uses administrative and civil measures to make employers reimburse the correct amount. In return, the federal agency notifies the affected person and pays those who submit a claim. However, it is not uncommon for this money to is not claimed. Potential employees may be able to find in the database unclaimed back salaries and wages in the unclaimed money database. In addition, they can call the department via (866) 487-9243 or visit the local branch in Texas.
Pensions that are not paid
The Pension Benefit Guaranty Corporation (PBGC) has an auto-help manual for retired workers who work in the private industry. It allows users to locate their pensions unclaimed in 401k and other private pension plans. The corporation's unclaimed pensions database is also a good tool for locating and filing claims for unpaid pensions.
Pension Benefit Guaranty Corporation
1200 K Street, NW
Washington, DC 20005-4026
Phone: (800) 326-5678
Also Read: Unclaimed Money Florida
Unclaimed Veterans"Life Insurance Funds
The Veterans' Life Insurance Fund is an insurance plan which provides insurance for financial security for veterans and their dependents in case an event makes a member of the military unable to work or return to active duty. In many instances, these fund funds are unclaimed. It is possible to track those funds that have not been claimed on the Department of Veteran Affairs database.
Department of Veterans Affairs
810 Vermont Avenue, NW
Washington, DC 20420
Local office directories
Phone: (800) 827-1000
Unclaimed Federal Tax Refunds
Texas residents in the habit of overpaying their federal taxes receive a refund through personal checks, savings bonds, or direct deposits to bank accounts. Refunds that are refunded can remain unclaimed for several years -- many taxpayers aren't aware of it, while others decide to put off the refund and be able to claim the lump sum later. There is a database maintained by the Internal Revenue Service (IRS) maintains a database for locating and claiming these taxes that taxpayers do not claim. A different option is to go to the nearest IRS office located in Texas. Call the IRS assistance line at (800) 829-1040.
Unclaimed Credit Union Deposits
They are financial establishments that provide traditional banking services for members but with additional benefits, benefits, and services that traditional banks cannot offer their customers. Members typically operate an account to take loans and make deposits for loan repayments. As with traditional bank accounts, money from savings accounts at credit unions can also remain unnoticed for an extended time. If this happens, the credit union records the money as unclaimed. Interested persons may search the National Credit Union Administration database for unclaimed credit-union deposits.
National Credit Union Administration
4807 Spicewood Springs Road, Suite 5100
Austin, TX 78759
Phone: (512) 231-7900
Fax: (512) 231-7920
Email: amacmail@ncua.gov
Unclaimed Harmed Investors' Funds
The Securities and Exchange Commission exists to protect people who invest in U.S. securities like commodities, stock derivatives, and other financial instruments. It also investigates fraud transactions by brokers, corporations, and book-runners. It seizes the money and other assets of organizations that are complicit and seeks to reimburse hurt investors through a 3rd-party funds administrator. Individual investors who have been the victim of securities fraud may search the U.S. Securities and Exchange Commission database for unclaimed money funds. You can also visit the regional office or call for help at the SEC helpline.
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
Regional office directory
Phone: (202) 551-6551
Unclaimed Matured Savings Bonds
Savings bonds are investments that provide assured, though modest, constant interest payments. Many investors prefer selling bonds upon maturity, which can be between 10 and 30 years. It's not uncommon for initial investors not to remember these bonds, particularly individual investors. The investment firm or the U.S. Treasury Department will report the funds that are not claimed and attempt to communicate with the investors or named kin. The possibility is to find bond funds that are not claimed within the U.S. Treasury Department database. The parties may contact the department at (844) 284-2676 or (202) 222-2000. Claimants may also send an email to treasury.direct@fiscal.treasury.gov.
Unclaimed Bankruptcy Funds
The money recouped in a bankruptcy process is passed from the debtor to an appointed trustee by the court. Then, lenders with proof of claims. The funds not claimed in bankruptcy proceedings are not repaid.
If creditors do not claim the funds because of the death of someone, the inability to cash distribution checks, or a non-existent address, the court will report these funds as unclaimed funds. Creditors and their relatives can check for funds not claimed using the United States courts' unclaimed fund locator.
Unclaimed Mortgage Refunds
Texas homeowners who have a Federal Housing Administration (FHA) mortgage that is insured are eligible to get refunds on canceled premiums and distributive share payments made by the Department of Housing and Urban Development (HUD). If these refunds and installments remain uncollected over several years, HUD will declare them unclaimed funds. Information on how to claim these funds can be found through the U.S. Department of Housing and Urban Development database. Or, contact HUD directly.
Unclaimed Funds in a Foreign Country
There are occasions when U.S. citizens whose property was taken over by a foreign government could be eligible for an amount to pay for losses. It is the same for individuals and family members of those who sustained damage. As a result of U.S. military actions in a foreign nation. The Foreign Claims Settlement Commission database can help concerned people locate the funds and file claims.
No comments yet