Texas unclaimed money refers to funds an owner has not claimed or exercised their power of ownership over after a statutory amount of your time elapses. When assets remain untouched for quite one year, Texas’ Uniform Unclaimed Property Act directs the financial organization to cede custody of the money to the state government or agency designated as a holder. The agency liable for holding Texas unclaimed money is the Unclaimed Property Division of the Texas Comptroller’s Office. Ceding money to the government is also known as escheatment.
The Texas Unclaimed Property Division acts as temporary custodian of unclaimed property in Texas, including tangible and intangible assets like cash and cash equivalents. The division maintains the assets until a legal claimant submits a claim. When this happens, the agency shall turn over the unclaimed funds to its rightful owner, with interest accrued during the escheatment period.
How To Find Unclaimed Money in Texas
The Division of Unclaimed Property maintains a publicly searchable database that persons looking for Texas unclaimed money can use. Interested persons need only enter their names within the search field and see results on the government list of unclaimed funds. A name-based search will return a table containing a property or claim I.D., the rightful owner’s name, address, and, therefore, the holder’s information. Persons searching this database can also expect to see the claimable amount and the year since the money has been reported as unclaimed.
Unclaimed money within the United States is public and can be accessed by anyone through official or non-governmental services. Third-party unclaimed money search engines are easy to use and deliver fast results, not limited by geographical area. Users can typically look for unclaimed money through third-party search sites using just a full name or business name. However, because these sites aren’t government-sponsored, the supply and accuracy of results can vary.
How Do I Find Unclaimed Money free in Texas?
Besides the Division of Unclaimed Property, other federal agencies maintain databases that Texas residents can use to seek out unclaimed money for free, from owed back wages to federal tax refunds.
How to Unclaimed Texas Tax Refunds
Individuals and businesses who earn their income in Texas must pay state tax. Certain purchases and expenses also are taxable. Paying these taxes involves a careful review of personal income and expenses, and it’s common for taxpayers to overpay. In such cases, the Texas Comptroller of Public Accounts reimburses the difference. However, it’s common for these tax refunds to go unclaimed for several reasons. Taxpayers and relatives of taxpayers in Texas may check and file unclaimed state tax refunds by following instructions and providing the required supporting documents.
Lyndon B. Johnson State office block
111 East 17th Street
P.O. Box 13528, Capitol Station
Austin, TX 78711-3528
Unpaid Back Wages and Salaries
The U.S. Department of Labor’s Wages and Hours Division investigates wage exploitation and nonpayment cases. The division then uses civil and administrative actions to compel the erring employers to pay the due amount. In turn, the agency notifies the affected employee and delivers those who submit a claim. However, this money often goes unclaimed. Interested employees may find unclaimed back wages and salaries on the unclaimed money database. Alternatively, they will call the division at (866) 487-9243 or visit the local office in Texas.
Unpaid Pensions
The Pension Benefit Guaranty Corporation (PBGC) features a self-help guide for retirees who work in the private sector. Users can find their unclaimed pensions in 401k accounts and other private pension plans. The corporation’s unclaimed pension database is also a valuable resource for finding and claiming unpaid allowances.
Pension Benefit Guaranty Corporation
1200 K Street, NW
Washington, DC 20005-4026
Phone: (800) 326-5678
Unclaimed Veterans’ life assurance Funds
The Veterans’ life assurance Fund is a plan that functions as financial security for service members and dependents if an incident renders a service member unable to work during or after active duty. In many cases, these funds go unclaimed. It’s possible to find these unclaimed funds on the Department of Veteran Affairs database.
Department of Veterans Affairs
810 Vermont Avenue, NW
Washington, DC 20420
Local office directory
Phone: (800) 827-1000
Unclaimed Federal Tax Refunds
Texas residents who overpay their federal taxes get refunded with personal checks, savings bonds, or direct deposit to bank accounts. These reimbursements can often remain unclaimed for years — some taxpayers are unaware, et al. prefer to postpone the refund and claim a lump sum later. The interior Revenue Service (IRS) maintains a database for finding and claiming these unclaimed federal tax refunds. Alternatively, the taxpayer may visit the closest IRS office in Texas. or call the IRS helpline at (800) 829-1040.
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