|
| |
| Home » USA » Wisconsin » Unclaimed Property |
|
|
Wisconsin Unclaimed Property |
Wisconsin Unclaimed Property refers to a financial asset that has not been in possession of its rightful owner for the past 5 years or more. Such property comes under the possession of the State after the expiry of this period and is kept preserved afterwards for an infinite period. The original owners or their legitimate heirs can get back their unclaimed money, funds, cash or any other assets any time from the Wisconsin Unclaimed Property Division, which is the chief agency for the upkeep of unclaimed properties in the State of Wisconsin.
The most common forms of abandoned or unclaimed property in Wisconsin includes uncashed dividends, certificates of deposit, checking accounts, savings accounts, credit balances, stocks, refunds, uncashed death benefit checks, customer deposits or overpayments and life insurance policies. Moreover, unclaimed wages, utility deposits and other similar kinds of properties can also become unclaimed property if they remain inactive for more than a year, according to the State of Wisconsin Unclaimed Property Law. Furthermore, real estate in Wisconsin is not considered unclaimed property in WI.
Unclaimed Property Form
While claiming your property lying in the custody to State Treasury, you need to submit documents in support of your claim. These documents along with a relevant form should be mailed to the Treasury for further action. Wisconsin unclaimed property form varies according to the type of lost assets. These may include the following:
- Claim Form Instructions
- Declaration of Heirship
- Affidavit of Transfer
- Affidavit of Lost Bond
- Release by Heir
- Release by Co-Owner
- Holder Reimbursement Request
- W-9 Request for Taxpayer ID Number (Mutual fund registration)
Wisconsin Unclaimed Property Law
|
|
|
According to the Unclaimed Property Law, a property becomes unclaimed or abandoned after a certain period of financial inactivity. The holders of such properties or financial assets try to contact the owners and if they fail to do so within the period, the properties must be turned over to the State.
Wisconsin Unclaimed Property Division
The Wisconsin State Treasurer acts as a custodian of the unclaimed property and the WI Unclaimed Property Division makes attempts to find out the rightful owners. The attempts made by the Division to find out the rightful owners of unclaimed money in Wisconsin include regional advertisements in newspapers and other media sources. Besides, the people of the state can search their lost properties on websites like "ost.state.wi.us" and "missingmoney.com". The former contains database of unclaimed property reported in the state of Wisconsin while the latter contains a national database of unclaimed property.
|
|
|
|
