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Unclaimed Money Rhode Island: How to Find Unclaimed Money in Rhode Island

Unclaimed Money Rhode Island: How to Find Unclaimed Money in Rhode Island
November 12, 2022

Every dollar earned deserves to be protected; however, certain situations might cause an individual to lose their hard-earned money. 

 

For example, when a tangible or intangible financial asset is abandoned by its owner, it becomes unclaimed money. 


The United States government does not have a central repository for unclaimed funds arising from every state. 

 

Therefore, state governments are tasked with managing unclaimed monies and financial assets under their jurisdiction. 

 

In Rhode Island, unclaimed money is managed by the Rhode Island Treasurer. 


The funds are transferred to the custody of the treasury department after the expiration of the dormancy period in a process called escheatment.

 

Institutions holding unclaimed funds must send letters to the owner's last known address within 120 days of reporting the money to the Treasurer's Office. 

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Every spring, the state publishes a list of unclaimed funds in Rhode Island newspapers. 


The Treasurer's Office visits different communities and senior centers to reunite unclaimed funds with their owners. 

 

The treasurer holds the funds until the owner comes forward with a claim. 

 

If the owner does not come forward within a specific period, the money becomes the property of the state. 


However, there are certain exceptions to this rule. For instance, if the owner of the abandoned funds is a minor, the money would be turned over to the trustee or a guardian until the owner comes of age. 

 

Additionally, some types of unclaimed funds, like tax refunds or wages, may be exempted from this rule and may be turned over to the necessary state agency. 


Persons who can Claim on Behalf of Deceased Relatives in Rhode Island
In a situation where the owner of an unclaimed fund is late, the following persons are eligible to claim on their behalf: 


* The surviving parents of the deceased
* The surviving spouse or domestic partner of the deceased
* The surviving siblings of the deceased, including half-siblings and step-siblings
* The surviving children of the deceased, including stepchildren and adopted children


Where there is no surviving domestic partner, parent, child, sibling, or spouse of the deceased, the following can claim the abandoned fund:


* The administrator or executor of the deceased's estate
* Persons who can demonstrate that they are entitled to the unclaimed funds under the terms of the deceased's will or trust agreement
* The following documents are usually required to claim abandoned money from deceased relatives in Rhode Island:
* A copy of the death certificate of the deceased
* A copy of the will or trust agreement, where applicable 
* ID cards, such as a US passport or a driver's license
* Proof of the claimant's relationship to the deceased, such as a marriage certificate or birth certificate

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How to Find Unclaimed Money in Rhode Island


Interested parties looking for unclaimed funds in Rhode Island can start by visiting the Unclaimed Property Division of the Rhode Island General Treasurer's Office. 

 

The office maintains a publicly searchable online database where parties can look for their name or business name. 


Should a person discovers money that belongs to them, they can submit a claim form online or via mail. 

 

Claimants can submit their claims using the following steps:


1. Visit the official website of the state treasurer 
2. Click on the "search" button
3. Type in your first and last name, alongside other details that would help 4. filter your search, such as the name of your city, and zip code
4. Click on "claim" next to every result that matches your information
5. Click on "view claim properties" right above the selected list
6. Pick the correct relationship status with the property, and click on "file claim."
7. Enter your social security number
8. Submit your claim


The next step after submission is processing. The following supporting documents will be required for a completed claim to be processed:


* Photo ID
* Legal documents containing Social Security Number (SSN)
* Other requirements are provided in the email sent to the claimant (depending on the claim type)


The credentials can be submitted to the following address: 


Rhode Island Unclaimed Property Division
PO Box 1435
Providence, RI 02901-1435


For further inquiries, claimants can contact the Rhode Island Unclaimed Property Division at (401) 462-7676 or through email at [email protected] 

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The office is open from Monday to Friday between 9:00 a.m. and 4:00 p.m. EST. Physical applications can be made at:


Rhode Island General Treasurer's Office
Unclaimed Property Division
50 Service Avenue Warwick,
RI 02886


Rhodians can also access unclaimed funds via federal agencies and databases, including:


The Bankruptcy Courts (Rhode Island Division)
HUD/FHA Mortgage Insurance Refunds


Conclusion


The Unclaimed Property Division is tasked with maintaining control and custody of unclaimed funds belonging to Rhode Islanders and their businesses. 

 

In addition, the agency works to reunite owners with their abandoned funds. 

 

As a result, persons looking for unclaimed funds can do so using the above processes!

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