Tax Commission News Release
Is the state holding your money?
BOISE, IDAHO — May 17, 2010 — On July 1 about $1.8 million of Idaho’s unclaimed money goes to the state’s general fund. And some of that money could be yours.
Many assets go unclaimed because people didn’t know they had them or just forgot about them, according to the Idaho Tax Commission, which holds unclaimed property for Idaho. Sometimes those assets are worth thousands of dollars. They include stocks, bonds, mutual funds, bank accounts, uncashed payroll checks, utility deposits, traveler’s checks, contents from deposit boxes, and other money.
Idaho takes permanent ownership of property that’s remained unclaimed for 10 years or longer, and owners and their heirs lose all rights to that property. The state currently has nearly $57 million in unclaimed property.
“Check out the unclaimed property list on our Web site at tax.idaho.gov to see if you have property that belongs to you or your relatives,” said Cozette Walters-Swanson, manager of the Tax Commission’s Unclaimed Property Program. “If you’re on the list, make a claim online to get your money.”
Businesses and those who are claiming property for someone else will need to fill out a paper claim form. The claim form is available on the Web site. There’s no charge for the online or paper service.
Walters-Swanson suggested people check the unclaimed property list from time to time. “Every day we update the list with more abandoned money,” she said.
If you have questions about unclaimed property, call the Tax Commission’s Unclaimed Property Program at 334-7627 in the Boise area or toll free at (800) 972-7660, ext. 7627.
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