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Do You Have Unclaimed Funds Just Waiting for You to Collect?

Posted by Zinner & Co. on Oct 17, 2019 5:21:00 AM
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Money doesn’t grow on trees! If you have monies owed to you, you should try to collect. At present, there are over $2.6B in unclaimed funds that Ohio is trying to get back in the hands of its rightful owners.ohio unclaimed funds

Ohio law requires certain types of uncashed checks and other funds due to customers, be placed into an unclaimed funds account with the state. Common types of refunds can include uncashed payroll checks, unclaimed insurance payments or refunds, refunds on over-payment on utilities, etc. Last year Ohio returned over nearly $100M in unclaimed funds and this year, that figure is expected to rise.

Here is the process to see if you have unclaimed funds:

  • Go to com.ohio.gov/unfd and enter your name or company name in the ‘Find Missing Money’ box. The site will forward you to missingmoney.com – this is the firm that processes claims for the state.
  • If you are owed money, the site will list all of the funds held in your name (along with the accounts those funds are associated with).
  • Click all boxes that say ‘Claim’ and complete the form
  • You will be prompted to see if you want to display (and print) the form or have the forms mailed to you.
  • Once you have filled out the form mail it to the addressed listed on the instructions. *Note: you will be prompted to complete a 1099 and you may receive a 1099-INT for any interest earned on your unclaimed funds.  

If you have any questions about this process or need assistance with the claims process, contact us.

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Topics: personal finance, ohio

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