These funds come from a variety of sources including:
- uncashed checks
- forgotten utility deposits
- insurance claims
- dormant checking accounts
- dormant savings accounts
- forgotten money orders
- stocks and bonds
- safe deposit boxes
and a variety of of other places.
These funds can go unclaimed for a variety of reasons including:
- leaving a job without claiming your final paycheck
- moving without getting your utility deposit back
- not knowing about an inheritance in your name
- not knowing about an insurance claim in your favor
The list of reasons goes on and on. Because of this companies are required to turn these funds over to their respective states unclaimed money departments after a certain period of time.
Division of Unclaimed Funds
77 South High Street, 20th Floor
Columbus, OH 43215-6108
If it turns out you do have money in your name, you will need to prove that you are entitled to it.
The Division does not pay a claim on the source of name alone. Evidence may be as uncomplicated as a document that proves that you once lived at the reported address on file with the Division otherwise in some cases, a document that comprises your Social Security number may be necessary.
Initially, always present a clear copy of your photo I.D.
For evidence of the address, you might be able to send a clear copy of a document with the reported address and your name listed in box B on the claim form. (This might include a driver’s license, work ID, income tax return, State ID, mortgage deed, bank loan papers, divorce decree, birth certificate, report card, auto registration, college transcript, bank statement, insurance papers, or a medical card.)
After you have completed and submitted a claim form, the Division will inform you if any additional documentation is required to verify that you are the lawful owner of the funds.
A Social Security number (SSN) is required for IRS tax reporting reasons related to the payment of interest. It can also be the only proof to verify the ownership. (Privacy Notice: The Social Security number (SSN) is private and confidential and is protected by the access rules in Ohio Revised Code 1347.15.)
If the original owner is deceased, you must first prove that the account belonged to the original owner; then you must prove you are entitled to the original owner’s money.
Second, you must prove that you are the rightful recipient of the funds, and you are legally entitled to claim these funds for the owner (such as if the owner is deceased or incapacitated.)
If the original owner is dead, you should get in touch with the Probate Court in the county where the account owner lived at the time of death. You must obtain documentation from the Probate Court that grants you the right to obtain the funds. In many of Ohio county probate courts, these credentials are referred to as LETTERS OF AUTHORITY. Depending on how great the account is, it might be essential to reopen the estate. Probate credentials should be under current date that means that probate credentials should be dated within two years of the date of your finalized and signed claim form.
In some cases, you might not be able to find an account that is too new to appear on the web page. That account will appear the after that time the website is updated. Funds reported without a name will not come into view on the website and will involve research by the Division’s staff. Also, when the Division obtains a claim form relating to an account, the online listed is pulled while the claim is being evaluated.
If your claim is for unclaimed funds valued at 1,000 dollars or more, the claim form should be notarized. A Notary Public is established at financial institutions, police and sheriff’s departments, city and county offices and most attorney offices.
If there are any questions, they should be directed to the Division of Unclaimed Funds at the numbers or email listed above.
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