Unclaimed Money Delaware: How to Find Unclaimed Money in Delaware
November 10, 2022
Per Delaware Law, unclaimed money (property) consists of funds held by financial institutions (banks, insurance companies) and other corporations/organizations which have become dormant for a legally specified time due to abandonment by the owners.
What is the Money Match Program?
According to Delaware's Unclaimed Property Law, institutions owing unclaimed money (holders) are to report and remit such funds to the state.
The state maintains custody of these unclaimed funds in perpetuity until the rightful owners come forward to claim them.
The Money Match Program is a program set up by the Delaware Office of Unclaimed Property to reunite Delaware taxpayers with their missing money.
The program is designed to ensure that unclaimed funds are returned to the rightful owners without them exerting strenuous efforts or even taking any actions at all.
The program operates by matching the taxpayer's most recent tax return information with the state's database of unclaimed property.
This way, owners of unclaimed funds are easily identified, and their money gets returned to them.
So, it turns out one easy way to find your unclaimed money (or for your unclaimed money to find you) in Delaware is to be a faithful taxpayer.
What is the Law on Unclaimed Money in Delaware?
The main law regulating Unclaimed Money in Delaware is found in Title 12 of the Delaware Code. Chapter 11, under this Title, is the law on Escheats, and it details the rules of the state on property reversion.
Sec 12-1130 provides definitions for recurrent terms in claiming unclaimed money like 'holders', 'owners', 'financial organizations', 'record', 'gift cards', e.t.c. It also defines virtual currency to include digital currency like cryptocurrency. This reflects the modern outlook of this Escheat law.
Subsection 24 of this section denotes the State Escheator as the official responsible for the administration and enforcement of the law.
Sec 12-1133 lays down the time limits after which certain properties are to be presumed abandoned/unclaimed.
The majority of the properties listed in this section have a 5-year limit for collection before being regarded as unclaimed.
The remainder of this statute details processes that holders of unclaimed property and the State Escheator are to abide by to ensure unclaimed properties and funds are eventually obtained by their rightful owners.
How Do I Find Unclaimed Money in Delaware?
The process for finding unclaimed money in Delaware is quite easy. It can be completed on the website created for this purpose in four simple steps:
1. Search for Unclaimed Money
When you land on the homepage of the Delaware Unclaimed Property website, click on the 'Get Started button to get directed to the search interface.
Fill in your name(s) in the fields provided and click on search to find your property. You can fill in the 'City' field to help narrow your search.
Once you've found your property, click 'Claim'. Then, click the 'Continue to File Claim' button to start the claims process.
2. Initiate Claim
Here, you will be required to select your 'Relationship to Owner' of the property. If you are the direct owner of the property, you are to select 'Owner', but if you are an heir to the owner, you can select 'Heir' or 'Representative'.
Next, you will be asked to provide your current contact information. You must complete all required fields here and ensure you provide your current physical mailing address, as that is where your funds will be sent to.
After this, you will be asked to confirm your address, and you are to verify all other information you have provided.
Once you've completed the preview, you must agree to the terms at the top of the page before clicking 'Submit' to officially initiate your claim.
At this stage, a claim number will be generated based on the information you've provided and sent to you via email.
3. Complete Claim
Every reclamation process for unclaimed money requires a unique set of documentation to enable its completion. To know the specific requirements for your claim, check the email sent to you.
An initial documentation list will be found in 'Section C' of the claim form.
The required documents include a signed and notarized claim form, government-issued photo identification, and other relevant proof documents.
There are three main options for submitting the documentation:
* You can upload them through the secure link. This is the safest and most advisable method.
* You can mail them to this address:
State of Delaware Unclaimed Property Office P.O. Box 8140 Wilmington, DE 19803-8140 For non-color documentation, you can fax it to 302-622-4115
4. Track Your Claim's Progress
To do this, visit the Status Page and enter your claim number in the field provided for that. Your claim number can be found in the email sent to you and on your claim form as well.
The Delaware Office of Unclaimed Property has a well-developed system for helping owners get their unclaimed funds.
Whether through the Money Match Program that makes your unclaimed money find you; or through the online claims process, you can be assured that you can't lose what is yours in Delaware.
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