Arizona Unclaimed Money: How to Find Unclaimed Money in Arizona
October 11, 2022
In Arizona, unclaimed money refers to any intangible property that is owed, held, or held in the regular course of one’s activities but has remained unclaimed for a given period of time after the asset became payable.
Funds become unclaimed when they are without owners for a specified period of time, usually between one to three years. Arizona unclaimed money includes:
* Uncashed payroll checks * Contents of an abandoned safe-deposit box * Dormant bank accounts * Uncollected life insurance * Tax refunds * Credit balances * Rebates * Other financial utilities
Currently, Arizona holds over $1.5 billion in unclaimed money, involving over one million persons.
In Arizona, funds typically become unclaimed when individuals change addresses or, in some cases, die without any family member aware of their assets.
As a result, the state is tasked with returning these funds upon meeting specified requirements. For instance, Arizona returned over $64 million during the 2018 fiscal year, an increase from $57 million in 2017.
The Arizona Revised Unclaimed Property Act provides that every organization and business in the state must report all unclaimed monies annually.
The state allows non-residents to apply for the recovery of their funds. Once funds are considered unclaimed, they are handed over to the state for management until their rightful owners come forward.
How to Perform an Arizona Unclaimed Property Search
An unclaimed money Arizona search can be performed online and offline. If you want to perform an Arizona unclaimed property search only, you can use one of the following methods.
If you wish to find other records, you can use a public records search websites, such as backgroundcheck.co. In this website, you can perform an Arizona unclaimed money search, and get access to other records. If you want to find missing money that belongs to you or your family members, here is how to do it:
Unclaimed Money Arizona: Dormancy Period
The inability of an owner to claim their funds within the established timeframe will result in the money becoming abandoned. The timeframe is what is known as the dormancy period.
Once abandoned, the state will hold Arizona unclaimed property for persons whose last known contact addresses are in the state.
If you leave the state before recovering your asset from a holder, the state will hold your property (funds) on your behalf. The dormancy period is determined by the nature of the asset in question, and they include the following:
* Money order or similar written instrument: three years * Traveler’s check: three years * Stock and other equity interests held in a business association or financial organization: two years * Principal on debt: two years * Credits owed to customers because of retail business transactions: three years * Proceeds of a life or endowment insurance policy: one year * Monies payable on checks, drafts, or similar instruments: three years
How to Find Unclaimed Money in Arizona:
Persons looking to recover their Arizona unclaimed property can deploy any of the following means:
Finding Arizona Unclaimed Money Through MissingMoney.com
The state of Arizona maintains the details of unclaimed assets in a centralized database. This database is managed by missingmoney.com in collaboration with the Arizona Department of Revenue.
You can search by directly visiting missingmoney.com or the official website of the state’s Department of Revenue, which in turn will direct you to MissingMoney.
Simply navigate to the site and click on the search icon. Enter your full name, state/province, and city, then click on search.
You will be provided with a form and required to fill in the details, including your name, social security number, address, etc. You must also fill in the state file inquiry form and click on continue.
Following that, you will be required to prepare and send legal documentation to verify your ownership, identity, and relationship with the individual whose funds you are trying to claim (in cases where the claimant is an heir).
In addition, you will be required to provide evidence that you have lived or are living at the address provided.
Some of the proofs of address that are allowed include college transcripts, court documents, bank statements, report cards, canceled checks, marriage certificates, birth certificates, auto registration, stock certificate, and divorce decree.
After that, send your application to the Arizona State Treasury Department using the following address:
Arizona Department of Revenue Unclaimed Property Unit PO Box 29026 Phoenix, AZ 85038-9026 You can also make in-person submissions at: 1600 W Monroe Phoenix, AZ 85007-2650
The waiting period usually lasts between two to three weeks, though in-person applications are attended to faster and can be executed within 24 hours. You can also call by phone using:
Finding Unclaimed Money Arizona Funds Through the DoNotPay Platform
Another popular platform offering access to unclaimed money in Arizona is DoNotPay. Unlike most platforms, the site provides access to all state and federal databases, allowing you to apply for unclaimed money in Arizona and other U.S states.
To use the site, visit the DoNotPay website and navigate to the “Missing Money” section. You will be required to provide details such as personal information, social security number, address, etc.
The platform will thoroughly search every database to identify unclaimed funds connected to your personal information.
If there are matches, you will be required to use the claim property feature and provide legal documentation to verify your claim.
The platform can also file a claim on your behalf to the relevant authority to recover your funds.
Residents and non-residents of the state of Arizona can now recover their unclaimed money Arizona funds at relative convenience.
The techniques discussed above are valuable guides to locating your unclaimed funds in the state.
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