You may have an unexpected boon if you take the time to search online. Unclaimed property can be searched online through a useful tool offered by the Wisconsin Treasurer's office. On the Web site you can also search other states unclaimed property sites and the national database for unclaimed property. In addition, "undeliverable" tax refunds and child support payments can be searched by navigating through the site.
Unclaimed property is any financial asset that has had no activity by its owner for a period of 2 years or more. This includes savings accounts, checking accounts, un-cashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies and un-cashed death benefit checks. The law also requires that utility deposits, unclaimed wages and property resulting from business dissolutions be reported as unclaimed property after one year of inactivity. The Unclaimed Property Act does not include real estate.
The purpose of the law is to identify and protect financial assets which have remained dormant for a period of 2 years or more and to hold it in custody until the rightful owner comes forward to claim it. Remitting the assets to the state allows the owners or their heirs to have a single source to check for unclaimed property instead of trying to check with hundreds of banks, insurance companies, employers and utility companies.
The State of Wisconsin acts as a custodian for abandoned funds and holds these funds in perpetuity. In other words, there is no time limit for claiming your money from the State Treasury. If at any time you can prove ownership of legal rights to the unclaimed funds, the State Treasurer will approve payment to you or your heirs without charge.
To Claim Unclaimed Property you will need to enter your name in the search field online. When you find a property belonging to you click on the property to start the claim process. You will also be required to fill out additional information to claim unclaimed property. Once done with the online process the State Treasurer's Office will mail you a form to be completed for the official reclaiming of property. The form will need to be notarized before you mail it back - all banks and credit unions have a notary onsite during business hours. Once submitted, the Treasurer's office may take about 90 days to review and process you claim before a check is mailed. If the claim is denied, you will be contacted by the office.
If you have additional questions on the Wisconsin Unclaimed Property Laws please contact my office at (888) 549-0027 or (608) 266-6670 or via e-mail at sen.erpenbach@legis.wisconsin.gov.
- Sen. Jon Erpenbach, D-Waunakee, serves the 27th Senate District.
Unclaimed property is any financial asset that has had no activity by its owner for a period of 2 years or more. This includes savings accounts, checking accounts, un-cashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies and un-cashed death benefit checks. The law also requires that utility deposits, unclaimed wages and property resulting from business dissolutions be reported as unclaimed property after one year of inactivity. The Unclaimed Property Act does not include real estate.
The purpose of the law is to identify and protect financial assets which have remained dormant for a period of 2 years or more and to hold it in custody until the rightful owner comes forward to claim it. Remitting the assets to the state allows the owners or their heirs to have a single source to check for unclaimed property instead of trying to check with hundreds of banks, insurance companies, employers and utility companies.
The State of Wisconsin acts as a custodian for abandoned funds and holds these funds in perpetuity. In other words, there is no time limit for claiming your money from the State Treasury. If at any time you can prove ownership of legal rights to the unclaimed funds, the State Treasurer will approve payment to you or your heirs without charge.
To Claim Unclaimed Property you will need to enter your name in the search field online. When you find a property belonging to you click on the property to start the claim process. You will also be required to fill out additional information to claim unclaimed property. Once done with the online process the State Treasurer's Office will mail you a form to be completed for the official reclaiming of property. The form will need to be notarized before you mail it back - all banks and credit unions have a notary onsite during business hours. Once submitted, the Treasurer's office may take about 90 days to review and process you claim before a check is mailed. If the claim is denied, you will be contacted by the office.
If you have additional questions on the Wisconsin Unclaimed Property Laws please contact my office at (888) 549-0027 or (608) 266-6670 or via e-mail at sen.erpenbach@legis.wisconsin.gov.
- Sen. Jon Erpenbach, D-Waunakee, serves the 27th Senate District.
