What is Unclaimed money in Mississippi?
Unclaimed money in Mississippi is also known as abandoned property, unclaimed property, or abandoned money. It’s money or property that is left with an individual or organization (such as a bank, solicitor, or other financial institution) for a set statutory period (referred to as a “dormancy period”).
The state government usually takes money from the owner when the dormancy period expires for the abandoned amount of money. The government then takes control of the money until its rightful owners can claim it, a process called escheatment. Unclaimed money could be in the form of traveler’s checks or checking and savings accounts, gift certificates, wages, money orders, money orders, or life insurance.
All holders of unclaimed money in Mississippi must submit the funds to the Office of the State Treasury, per the Mississippi Unclaimed Property Act. The money is taken by the state treasury, but it never claims full ownership. The department instead holds onto the property until it is returned to its rightful owner.
How to find unclaimed money in Mississippi
The state’s Treasury is the best place to start if you want to locate unclaimed money in Mississippi. Anyone can search the department’s unclaimed property database using their last name or business name to find unclaimed money. You can search the database using a street address or a county name. Box number.
How do I find Mississippi unclaimed money for free?
The Mississippi State Treasury maintains a list of unclaimed funds that can be accessed via its website. Anyone can search the site for unclaimed money at no cost.
Those who are interested in finding their money lost can use databases provided by federal agencies. Unclaimed money can be divided into the following categories and their custodial agents:
Undelivered Federal Tax Refund Checks
Mississippi residents who feel they should have been refunded their tax can search the IRS Refunds Database to find out where the money is. The IRS will not usually forward tax returns to individuals who change their addresses. Instead, the IRS holds the money until the owner claims it. To search for unclaimed funds on the IRS website, individuals will need to provide their Social Security Number and filing status as well as the amount they want to be reimbursed.
Unclaimed Harmed Investors’ Funds
The U.S. Securities and Exchange Commission has custody of this fund. This fund is intended to compensate investors who have been victims of securities fraud. Mississippians who have been victims of securities fraud may check the database to see if unclaimed funds are available or contact the commission at this address.
U.S. Securities and Exchange Commission
100 F Street, North East
Washington, DC 20549
Phone: (202) 551-6551
Refunds on Mortgage Insurance
These refunds come from Federal Housing Administration (FHA) insured mortgages. Individuals can search the Department of Housing and Urban Development’s unclaimed refunds database to find lost funds from canceled shares and distributive premiums. The agency can be contacted by homeowners or their lawyers to claim unclaimed funds. Below is the contact information.
451 7th Street South West
Washington, DC 20410
Phone: (800) 697-6967
What happens to Mississippi’s unclaimed money if no one claims it?
The state government will always keep any unclaimed Mississippi money. These funds are protected by the government until the rightful owner files a valid claim. The Mississippi Unclaimed Property Division will release any interest accrued and the amount.