Hamilton County residents: Money might be waiting for you at the Ohio Department of Commerce’s Division of Unclaimed Funds.
The Ohio Department of Commerce announced Wednesday that Hamilton County ranks third among counties with the largest amount of unclaimed funds safeguarded by the state of Ohio. Of the approximately $4 billion currently in possession, more than $267 million belongs to Hamilton County residents and businesses.
Here’s how to check if you have missing money and how to claim it.
What are unclaimed funds?
Unclaimed funds are lost or forgotten money that businesses and banks report to the division after accounts become inactive, typically 3-5 years. The money comes from inactive checking and savings accounts, refund/credit balances, uncashed cashier’s checks, stocks and bonds, forgotten utility deposits or last paychecks.
The state of Ohio attempts to return the funds to its rightful owners through various means, and it manages these funds through the Ohio Department of Commerce’s Division of Unclaimed Funds.
How do I check to see if I have unclaimed funds?
Residents can go to missingmoney.com to find out if they have any unclaimed funds. The division also posts legal ads annually in newspapers across the state listing the names of people, businesses and entities in those publications’ circulation areas who have unclaimed funds.
In addition, the division also sets up kiosks at various events across the state, such as the Ohio State Fair, where people can stop by and receive help to see if they have unclaimed funds.
How do I get my unclaimed funds?
The Ohio Department of Commerce’s Division of Unclaimed Funds website explains how to search to see if you have unclaimed funds, how to claim them and how to submit a formal claim form to obtain the funds.
Depending on the type of funds the state is holding, you may be required to provide proof of address, proof of identification, a social security number or a W-9 tax form. If the claim is over $1,000, you may also need it notarized.
People claiming funds can upload their forms on a division webpage to submit the claim form and supporting documents on the division website, or people can also choose to mail them to its Columbus office.
Claims can take up to 120 days for review, and if claims do not provide the necessary forms, it could delay or potentially stop the process.
You can also check the status of your claim on the division webpage.
