The unclaimed money in the state of Idaho has exceeded $51 Million. The Idaho State Tax Commission works on bringing back together the abandoned financial assets. The abandoned financial assets are known as Idaho unclaimed property. In Idaho, the Idaho State Tax Commission is the caretaker that collects and protects the property until it can be given back to its legal owner or heir. An owner is a person or business that has a legal claim for the unclaimed property. In majority of the cases, holders of unclaimed property are required to give away unclaimed property to the state for protection.
The state takes permanent possession of property if it has remained unclaimed for ten years or longer. The owners and their heirs would have no right of claiming the property after that long period. Even with the rising awareness of unclaimed property, the state is still taking in about $1.7 million a year, and gives back less than half of that to its owners and legal heirs. Idaho is gradually getting rich off of your money; so, be aware and don’t just let them have it.
Idaho Unclaimed Property Division only displays records that has been kept for more than two years. In the case that your name is not on the list, you can call the Unclaimed Property Division to make sure if any funds are being held in your name. It is significant to note that accounts kept less than two years are not offered for public inspection. The owner’s last recorded state address is taken into consideration with regards to Idaho’s unclaimed money.
Just like other states of the USA, the State of Idaho is joining the lost money with its legal owners. In spite of state awareness efforts along with media coverage, the majority of people are still just naive to the concept of unclaimed money. Even those that are well-informed usually don’t have an indication where to start their search. There are some people keenly searching, but even those people don’t recognize all the ways they need to apply in order to make the most of their chances of finding claims.
How to Claim Unclaimed Property
Idaho unclaimed property division is taken care by Idaho’s State Tax Commission. The particular department of unclaimed property provides you the opportunity of submitting an online claim, if you are a legal owner of any unclaimed property.
The official website of State’s Tax Commission has kept up-to-date database of unclaimed property and you can search the database anytime. Moreover, the property that is just about to be sent to the state by a business (as per law) can also be searched. It’s easy and simple to make a free of cost search for unclaimed property online through Idaho Unclaimed Property Division.
You can start searching by entering your name, your business name or city; you might be end up with more than one results. Select the record which exactly is yours and click on the “Claim Checked Properties”. You would be directed to an online form to be filled in order to have the custody of unclaimed property of yours. On the other hand, if you need to have a personalized form, you can contact the Unclaimed Property Program either by e-mail at email@example.com or by calling at (208) 334-7623 in Boise or (800) 972-7660, ext. 7623 toll free.
A complete form along with all the required documents to be attached can be sent at following address;
Idaho State Tax Commission
Division PO Box 36
Boise, ID 83722-2240