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Idaho Unclaimed Property

Idaho Unclaimed Property amounts to assets worth more than $45 million and includes mutual funds, uncashed payroll checks, stocks, bank accounts, utility deposits, traveler's checks, bonds, safe deposit boxes and so on. Moreover, Idaho real estate is not considered unclaimed property in the state. The existence of most of these assets is not known to their rightful owners because of many reasons. There is a uniform law in all states of the US, which governs the activities associated with unclaimed property in Idaho.

Idaho Unclaimed Property Act

According to the Uniform Unclaimed Property Act, if a company is in possession of money, bonds, checks or other funds that haven't been claimed by the owners for a specified period of time, the company must report them to the State of Idaho. Indeed , the Act requires each government agency and privately-owned business to review their records annually in order to see whether they are holding any unclaimed property, funds or money. In the state of Idaho, a property becomes ID unclaimed property, if it remains abandoned by the owner for quite a longer time or the holder of the property fails to locate the owner.

Unclaimed Property Search

Today, making unclaimed property search in the state of Idaho is not that difficult. All abandoned property comes in the possession of Idaho State Tax Commission, which maintains a regularly updated database of such properties. The Idaho Unclaimed Property Listing may contain accounts with a varied range of values from five dollars to thousands of dollars.

As this database is available over Internet, it becomes easy to look for a particular record of ID Unclaimed Property. You can also make a nationwide search of unclaimed property using state sponsored websites, such as MissingMoney.com.

To know more about the procedure for reporting or claiming Idaho Unclaimed Property, you should visit the official website of the Idaho State Tax Commission.


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