Alaska’s Unclaimed Property Division
The State of Alaska keeps 410,000 property accounts being held in trust, totaling $91.9 million dollars. However, an average of 59,500 new property accounts are received every year. Alaska’s State treasury office is responsible for keeping records of unclaimed property of the state. According to the Unclaimed Property Act of Alaska, the unclaimed property is kept and protected by State treasury until it can be handed over to the legal owners. You can try using various combinations of your name to search for unclaimed money. Moreover, keep it in my mind that there can be assets in your maiden name.
Billions of dollars in dormant or lost accounts transfer without ever being found when governments, companies and banks lose track of the legal owner of the money. This can be because of many reasons, such as marriage break up, misspelled names, businesses going bankrupt, banks getting dissolved, unexpected move or relocation of jobs, address changes without prior notification, death, post office errors etc. If you know anyone who has ever moved or died, the state of Alaska is almost certainly holding unclaimed funds in their name.
Alaska unclaimed property division is administered and managed by Alaska Statute 34.45. The particular unclaimed property act requires that businesses (profit and non-profit) and governmental agencies to file unclaimed property reports with the Department of Revenue. Though, a negative or zero report is not needed in Alaska if a business or governmental agency has no unclaimed property. All States of the USA have unclaimed property laws which announce money, property, and other assets to be discarded after a period of idleness of three to five years. Alaska’s Unclaimed Property Act states that the unclaimed property is held until it can be handed over to the rightful owners or heirs.
Alaska unclaimed property division keeps more than 300,000 accounts of Alaskan unclaimed properties; about 12,000 new items are added to this list per annum. It’s a very good idea to search any of the reliable and official online databases of unclaimed property of the particular State.
How to Claim Unclaimed Property
In the State of Alaska, legal owners can claim for unclaimed property with the department at any time kept under the unclaimed property program. The owner claiming for his/her property should provide identification along with the claim. At the same time, holders should report and remit unclaimed property before November 1st every year. The report must include items that are unclaimed as of June 30 of each year. Property that would have been supposed dumped from September 7, 1980 forward. The particular department realizes time constraints might make it difficult to prepare reports back to 1980. The property-holders are asked of unclaimed property to file for as far back as their records allow. First time filers must try to cover at least the last ten years. An audit can cover all property back to 1980; random sampling practice is used to create reports where hard copy records are no longer available. It is quite significant to start reporting on a regular basis. You might need to address prior year records in a separate process.
To detect if you have unclaimed property on file with the Department of Revenue, you can use searchable database. Alaska’s searchable database is now linked with missingmoney.com where 40+ states can be searched at one time. You can also search database for unclaimed property through the online database provided by myunclaimed.com. You can also search the Alaska State Treasurer database to get unclaimed money in Alaska by visiting www.missingmoney.com. To help people find unclaimed money Alaska provides this search for free; the particular website is authorized by the State of Alaska. If you find your name in the database, you would be required to complete the claim form on the missing money website.
Once your name is in the database, you would be requested to provide required information for any claims you might have a right to. A form would be sent to you by the state keeping the funds you are claiming. Fill in the Alaska unclaimed property form when it reaches you and have the form notarized. Send the completed notarized form for Alaska unclaimed funds and any required documentation such as proof of identification or death certificate at the following address;
Department of Revenue
Unclaimed Property Unit
PO Box 110420
Juneau, AK 99811-0420
For further queries, you can send an email at email@example.com or call (907) 465-3726.