Many people will leave a will behind when they die. Other people organize their investments, which will make it easier for their loved ones to maintain them. Some people pass away without letting their spouses and children know about the investments. Additionally, there are people who have investments that they have forgotten about. There are many things that you can do in order to get unclaimed investments.
How to Find Unclaimed Investments
Life Insurance Policies
Insurance companies can merge with other companies or change their names. They may also go out of business or sell their policies. If you are not sure about which company has your insurance policy, then you will need to contact the insurance department in your state. They will be able to tell you who is in charge of your policy. They can also give you the insurance company's contact information.
There are many tax refunds that are not delivered. This is usually due to the fact that the IRS does not have the correct information. If you have not received your check, then you will need to visit the Internal Revenue website. Keep in mind that you will have three years to claim your money. The money will become the property of the property of the United States government.
United Savings Bond
It is estimated that there are 45 million savings bonds that are waiting to be cashed. They are worth over $16 billion. If you have a savings bond that you have not cashed, then you will need to visit treasuryhunt.gov.
Account Balance From a Failed Bank
If you have money in a bank that is federally-insured, then you can find information about on the FDIC website. The website will outline steps that you need to take in order to claim your money. Keep in mind that bank accounts are considered unclaimed if they have not been active for seven years or more. In order to prevent your account from being inactive, you will need to make a deposit every 10 years. Even if you only deposit five cents, this will be enough to keep your bank account open. You can also withdraw funds from the account every 10 years.
Account Balance From a Failed Credit Union
If a credit union fails, and it has federal insurance, then the National Credit Union will have to pay you back. However, you only have 1.5 years in order to claim the fully-insured amount. You can find this information on the NCUA website. You will need to submit a member verification form.
If you worked for a company that moved or merged with another business, then you will need to get in touch with the Pension Benefit Guaranty Corporation. You can also get in touch with this company if it went out of business or filed for bankruptcy. You will be able to search the information by state, company or last name.
When you change a job, you have the option of withdrawing, transferring or doing nothing with it. If you did not withdraw or transfer the account, then it will only accumulate interest for three years. You will need to submit three copies of the EPF transfer to your current employer.
The EPF commissioner is given one copy of the form. The second copy will be sent to your old employer. The present employer will keep the third copy. If you do not currently have a job, then can contact the PF office in your area.
Additionally, you can use missingmoney.com in order to locate missing investments. You will need to enter your first name, last name and the state you live in. You can submit a claim in the state you live in. If you are approved, then you will be able to get a check in the mail.
How to Avoid These Types of Situations
There are several things that you can do in order to avoid this. You need to monitor and track your investments. Make sure that your bank and other financial institutions have your correct contact information. You will also need to let your family members know about the investments that you have made. Additionally, you may want to consider filing your tax return online.
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