Americans Are Sitting On $20 Billion In Unclaimed Property

( – In a report last week, ABC’s “Good Morning America” revealed that over $20 billion in unclaimed property is waiting to be reclaimed and Americans may not even realize it.

According to the National Association of Unclaimed Property Administrators (NAUPA), about one in seven Americans has unclaimed property, including uncashed refunds, paychecks, and security deposits, and it would be wise to check annually to see if you have any.

To check if you might have unclaimed cash to which you are entitled, visit Missing Money, a website aimed at facilitating the return of unclaimed money by using a multi-state database to search and reclaim forgotten cash.

Missing Money is endorsed by the NAUPA and the National Association of State Treasurers.

If any unclaimed property is found, users can submit a free claim which, when accepted, will connect the user to the state for a secure transfer of the funds.

Evidence needed to reclaim the property varies depending on the state, so Missing Money encourages users to read and follow the instructions carefully.

According to the Treasury Department, users looking to reclaim funds held by the federal government should go to the Bureau of the Fiscal Service’s “Unclaimed Assets” web page. However, there is no centralized government-wide database on unclaimed property. Instead, each federal agency maintains its own data.

The Treasury Department launched a tool for users to search for “matured, uncashed savings bonds” called Treasury Hunt.

For information on unclaimed federal tax refunds, users should visit the Internal Revenue Services Refunds page.

The Wage and Hour Division of the Labor Department has a program to conduct investigations that often recover back wages for employees. By going to Workers Owed Wages, a user can file online to obtain back wages from an employer.

If users believe they are eligible for a refund from the Department of Housing and Urban Development or the Federal Housing Association, they can visit HUD’s Refunds site.

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