What is Unclaimed Money in Montana?
Montana unclaimed money (also known as unclaimed funds, unclaimed assets, or unclaimed property) is any financial asset that has remained unaccessed by its owner for a considerable time or whose owner is unknown. Unclaimed money or funds can include dormant bank accounts, stocks, bonds, insurance payments, tax and other refunds, unused gift certificates, and uncashed payroll checks.
All funds classified as unclaimed have exceeded the statutory dormancy period for such funds. As a result, they are transferred to the government for safekeeping according to the state's escheat regulations. Escheatment is the process whereby unclaimed funds are transferred to the custody of a state authority; the funds are kept until the legitimate owners show up to claim them.
In Montana, the Uniform Unclaimed Property Act obliges individuals, businesses, and financial institutions to report unclaimed assets to the Department of Revenue. However, these parties only report such funds after diligent efforts to reach the owners fail. The department continually reaches out to the owners via advertisements or regular publications to claim their unclaimed funds.
How to Find Unclaimed Money in Montana
The Montana Department of Revenue operates an online portal containing information about unclaimed assets and how owners can claim them. Anyone interested in locating and claiming their unclaimed assets can access this portal and follow the instructions to search for their unclaimed funds and start the claims process.
Individuals in Montana can also contact the Department of Revenue for relevant information on unclaimed property:
Montana Department of Revenue
P.O. Box 5805
Helena, MT 59604-5805
Phone: (406) 444-6900
Fax: (406) 444-7723
How Do I Find Montana Unclaimed Money for Free?
The Montana Department of Revenue offers a free online portal where people can look up unclaimed assets from inside or outside the state. However, the portal is password-protected, so those interested must first create a username and a password to gain access. Subsequently, the individual can proceed to the unclaimed property section to search the government’s list of unclaimed property.
Individuals in Montana can also search the existing databases of various federal agencies that have temporary custody of unclaimed funds or assets. A few of these databases and the funds they hold are described below:
Credit Union Unclaimed Shares/Deposits
The National Credit Union Administration holds unclaimed deposits or shares of members of credit unions. Individuals in Montana who have unclaimed shares as credit union members can search using the agency's Unclaimed Deposits database. Alternatively, such individuals can reach the agency at the address below:
National Credit Union Administration
4807 Spicewood Springs Road, Suite 5100
Austin, TX 78759
Phone: (512) 231-7900
Fax: (512) 231-7920
Unclaimed Harmed Investors Funds
This fund is kept by the U.S. Securities and Exchange Commission. It is used to pay investors who have been victims of securities fraud. Any individual in Montana who has suffered securities fraud can search the commission's database for unclaimed funds or contact the commission via this address:
U.S. Securities and Exchange Commission
100 F Street, North East
Washington, DC 20549
Phone: (202) 551-6551
Unclaimed Funds in Foreign Countries
U.S. nationals are usually compensated when they are injured, have their property damaged, or lose their lives because of a U.S. military campaign in a foreign country. Anyone in Montana or the surviving relative of the affected person can check the Foreign Claims Settlement Commission database to search for unclaimed funds in their name or contact the agency at:
Foreign Claims Settlement Commission
441 G Street, North West
Washington, DC 20579
How to Claim Unclaimed Money in Montana
Individuals who want to claim unclaimed money in Montana can follow these steps:
Search for the Unclaimed Cash
Here, the claimant will input a last or business name in the Department of Revenue's online portal to search for the unclaimed property. After identifying the property, the claimant will create and submit a claim. The department may require originals or copies of documents, including a driver's license, social security card, or voter's registration card, to verify a claimant's identity and signature. Other documents the agency may request include stock certificates, certificates of deposit, and cashier's checks, among others.
Track the Claim
After submitting the documents necessary to prove one's claim, an individual can check the Department of Revenue's unclaimed property site after two business days for the status of their claim. This activity requires the claim number assigned after the submission of a claim.
How Long Does It Take to Get Unclaimed Money in Montana?
There is no time limit for getting unclaimed money in Montana. However, if one does not obtain a response after submitting a claim, they can reach out to the Department of Revenue at email@example.com or (406) 444-6900.
Who Can Claim Unclaimed Money From Deceased Relatives in Montana?
In Montana, a deceased person's heir, surviving family member, executor, or court-appointed probate administrator can claim unclaimed money on their behalf. However, each claimant will need to submit documents to prove their relationship to the deceased and that the deceased was indeed the owner of the money. Upon presenting these documents, the Department of Revenue will release the funds to the claimant.
What Happens to Montana Unclaimed Money if No One Claims It?
All unclaimed money in Montana is turned over to the state for safekeeping. The state holds these funds in trust until the rightful owners claim them. Any time a rightful owner appears with evidence of the ownership, the state's Department of Revenue will release the funds to them, along with any accrued interest.
Can Someone in Montana Claim Unclaimed Money From Another State?
Yes. Persons currently living in Montana but with financial accounts or other monetary assets in other states are more likely to have unclaimed funds in those states. Such individuals can search for these funds using the database of the state department responsible for keeping unclaimed money. However, they must follow the department's instructions to file claims to recover their assets. This usually involves submitting valid documents to prove one's ownership or entitlement to the money.
Unclaimed money in the United States is public and can be accessed by anyone through official or non-governmental services. Third-party unclaimed money search engines are easy to use and deliver fast results not limited by geographic region. Users can typically search for unclaimed money through third-party search sites using just a full name or business name. However, because these sites are not government-sponsored, the availability and accuracy of results can vary.