Unclaimed Money Connecticut: How to Find Unclaimed Money in Connecticut
November 9, 2022
In Connecticut, when a bank, financial organization, business, or agency owes an individual money that is not collected for a long period after its due time, it is categorized as unclaimed money.
Unclaimed money is just one of the asset categories under unclaimed property.
Assets categorized under unclaimed (abandoned) property in Connecticut include uncashed checks, savings or checkings accounts, stocks, matured certificates of deposit, traveler's checks or money orders, bonds or mutual funds, and proceeds from life insurance policies.
The institutions which owe these unclaimed monies and properties are known as holders.
Holders include banks, insurance companies, credit unions, utility companies, brokerage firms, and other businesses.
A government agency may also be a holder. For example, when the IRS owes uncollected tax refunds, it is regarded as a holder under Connecticut Unclaimed Property Law.
Administration of Unclaimed Money in Connecticut
Under state law, Connecticut unclaimed property is classified as abandoned tangible property, and it is provided for by the law on Escheats (property reversion).
When money remains unclaimed despite notification of the owner by the holder, it is presumed abandoned; and holders of such money are mandated to turn them over to the Office of the Treasurer.
This is provided for in Sec 3-65a of the Connecticut General Statutes.
The rules on unclaimed money and abandoned property, in general, appear in Chapter 32 of the Connecticut General Statutes, which states the duties of the treasurer as a state elective officer.
Therefore, the administration of escheat of abandoned or unclaimed property is a duty exclusively performed by this office.
The Unclaimed Property Program, run by the Unclaimed Property Division of the Treasurer's Office, has one primary aim: To reunite unclaimed properties with their rightful owners.
This is done via the avenue and procedures set up for owners of such property to lay claim to their unclaimed property.
Where Do I Find Unclaimed Money in Connecticut?
The avenue for laying a claim to unclaimed money in Connecticut is the same one for laying a claim to other unclaimed properties — the Connecticut Treasurer's Unclaimed Property website.
The website is designed to help claimants search for their unclaimed money and begin the process of claiming it.
Steps in Finding Unclaimed Money in Connecticut
Before laying a claim to unclaimed money, you must be able to prove yourself either as the apparent owner or owner of the money.
The apparent owner is the person whose name appears on the records of the holder as the person being owed, while an owner is a person who has a legal or equitable interest in the money — can be a trust beneficiary or depositor of a deposit.
The legal definition of an owner by the statute denotes that a rightful heir to unclaimed money has the right to claim it.
The steps involved in finding unclaimed money in Connecticut are quite straightforward. There are four of them:
* Searching for the property * Submitting a claim * Completing the claim * Tracking the claim's progress
Step 1: Searching for the Property (Unclaimed Money)
Visit the Connecticut Treasurer's Unclaimed Property website and click on the search button on the homepage.
You will be directed to the 'Property Search Page'. Here, you will be required to fill in the fields requesting details that will help identify the property.
You are to type your last name or business name into the field labeled 'Last or Business Name'. After this, you may click on 'Search.'
If the results are not satisfactory, you can narrow down your search significantly by inputting more details into the fields labeled 'City and Zip Code'.
Once you can identify the fund that belongs to you, you are to click on 'Claim'.
After that, you will then click on 'Continue to Claim' to commence the claim process.
Step 2: Submitting a Claim
After reviewing the fund(s) you selected, click on 'File Claim', and you'll be moved to the 'Claimant Information page.
Here, you will be required to provide your contact information.
Ensure you fill in your 'current mailing address' accurately, as the check will be mailed to that address.
Next, you are to confirm the address and verify the contact information provided before clicking on 'Submit'.
Your claim is officially created here, and a Claim ID number is generated for it.
Step 3: Completing the Claim
This step involves gathering and submitting the required documents to the state.
The required documentation will be listed in an email that would have been sent to you at this point. These documents include:
* Any official document displaying the social security number * Photo Identification * Signed Claim Form (the Office of the Treasurer recently removed the requirement of notarization of the claim form) * Other documentation requested in the email
For submitting the documentation, you have two choices.
You can choose to upload the documents through the secure link of the Unclaimed Property Division, or you can simply mail the documents to this address:
State of Connecticut Office of the Treasurer Unclaimed Property Division PO Box 5065 Hartford, CT 06102
Step 4: Tracking the Claim's Progress
Every claim possesses a claim number which would have been generated around Step 2 (claim submission).
This Claim ID number can be found in the email sent to you at the stage of submission. You can also find it on the claim form.
To track your claim's progress, you are to input the claim number into the 'Search For Your Claim' page to check the most recent status of your claim.
The process of finding unclaimed money in Connecticut is quite easy and seamless.
You can complete the entire process and obtain your funds without moving an inch from your apartment.
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