August 27, 2008
Locating California Unclaimed Funds – Part 1 of 2
(Part 1 of 2)
The state of California’s unclaimed property program takes in approximately $300 million annually. Why should you care? Well, if you or anyone you know is or has been a resident of the Golden State (or ever had any type of business dealings, whether you were aware of it or not), a chunk of that big pile of California unclaimed money could very well belong to you!
Under the CA unclaimed funds law, abandoned assets like forgotten savings and checking accounts, cash and stock dividends, mineral deposits, uncashed checks and money orders, state of California unclaimed tax refunds, salary checks, gift certificates, and other assets are turned over to the Department of the Treasury if their owners don’t locate them within a given period. This ‘dormancy period’ varies widely from state to state, but in California it’s 3 years. These forgotten funds then get moved to the CA unclaimed property division, where they wait in the state’s general fund until returned to the rightful owners. This is where state employees who handled California unclaimed cash were criticized recently. Seems that they were all to happy to track down and collect the lost funds from the establishments holding on to them but but were less than enthusiastic about locating the actual owners in the California unclaimed property database.
(to be continued)
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Comptroller hands Buffalo hospital unclaimed funds – Newsday
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Comptroller hands Buffalo hospital unclaimed funds
Newsday, NY - BUFFALO, NY – New York Comptroller Thomas DiNapoli hand-delivered more than $6000 to a Buffalo hospital to highlight the $9 billion in unclaimed funds … Roswell Park gets $6 million in unclaimed funds Comptroller returns unclaimed funds Roswell Park coffers $6K richer |
Grundy residents fail to collect $165,000 (Morris Daily Herald)
While a tough economy is leaving many people struggling to balance the soaring costs of gas, food, and healthcare, over 550 Grundy County residents have failed to take advantage of their economic stimulus rebate – leaving an estimated $165,300 unclaimed.
Getting your unclaimed funds: The Real Deal – NewsChannel 9 WSYR
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Getting your unclaimed funds: The Real Deal
NewsChannel 9 WSYR, NY - Cherie Milazzo found out she had unclaimed funds in her name a few years back when she stopped at the State Comptroller’s booth at the State Fair. The money … |
Citi 'Takes Issue' With Calif AG Statement On Credit Card Probe – CNNMoney.com
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Citi 'Takes Issue' With Calif AG Statement On Credit Card Probe
CNNMoney.com - The funds also involved customers' unclaimed money. James Van Dyke , the principal and founder of Javelin Strategy & Research of Pleasanton, Calif., … |
This money might be yours: County looking to hand out cash (Kane County Chronicle)
GENEVA – Kane County wants to give money away.
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