Unclaimed Property: A Guide to Washington State Department of Revenue
Hey there, readers!
Do you know that the Washington State Department of Revenue (DOR) is holding onto a mountain of unclaimed property? That’s right, it’s your hard-earned money, and it’s just waiting for you to claim it. In this comprehensive guide, we’ll take you on a journey to help you uncover this hidden treasure and put it back in your pocket.
What is Unclaimed Property?
Unclaimed property refers to anything of value that has been lost, forgotten, or never claimed by its rightful owner. It can include items such as:
- Dormant accounts
- Uncashed checks
- Lost jewelry
- Insurance policy proceeds
- Utility deposits
Finding Your Unclaimed Property
Claiming your unclaimed property is a breeze. Here’s how to do it:
Search the DOR Website
The DOR maintains a searchable database where you can check for unclaimed property under your name or business name. Simply visit the DOR website at https://www.dor.wa.gov/unclaimed-property and follow the instructions.
Contact the DOR by Mail
If you’re unable to find your property online, you can mail a Claim Form to the DOR at the following address:
Washington State Department of Revenue
Unclaimed Property Division
P.O. Box 9034
Olympia, WA 98504-9034
Claim Your Property
Once you’ve located your unclaimed property, you’ll need to provide documentation to prove your ownership. This may include:
- A copy of your driver’s license or ID card
- A bank statement or other financial document
- A copy of your tax return
Types of Unclaimed Property
The DOR handles a wide range of unclaimed property, including:
Dormant Accounts
A dormant account is a bank account that has been inactive for a specified period, typically five years.
Uncashed Checks
Uncashed checks are checks that have not been cashed within a certain timeframe, usually six months.
Lost Jewelry
Lost jewelry refers to any valuable piece of jewelry that has been lost or misplaced.
Insurance Policy Proceeds
Insurance policy proceeds are funds that are owed to individuals or businesses after a claim has been filed and paid.
Table Breakdown of Unclaimed Property Types
| Property Type | Examples | Amount Held by DOR |
|---|---|---|
| Dormant Accounts | Savings Accounts, Checking Accounts | $625 million |
| Uncashed Checks | Personal Checks, Government Checks | $110 million |
| Lost Jewelry | Rings, Necklaces, Bracelets | $20 million |
| Insurance Policy Proceeds | Life Insurance, Health Insurance | $15 million |
Conclusion
Don’t let your unclaimed property pile up! Take action today and claim what’s rightfully yours. Check out our other articles for more tips and tricks on managing your finances and maximizing your wealth.
FAQ about Washington State Department of Revenue Unclaimed Property
What is unclaimed property?
- Any money or property that has gone unclaimed for a certain amount of time.
How do I know if I have unclaimed property?
- Check the WA Department of Revenue’s website at www.dor.wa.gov/up or call (360) 902-6404.
What types of property are considered unclaimed?
- Dormant bank accounts, uncashed checks, insurance proceeds, utility deposits, and forgotten stock certificates.
How long does it take for property to become unclaimed?
- It varies by type of property, but generally after a period of 3 to 5 years.
What do I need to do to claim my property?
- Complete a claim form, available on the DOR’s website, and provide identifying information and proof of ownership.
Is there a fee to claim my property?
- No, there is no fee to claim unclaimed property.
How long does it take to process my claim?
- Processing times vary, but generally take 60 to 90 days.
What if I don’t claim my property?
- The property will remain with the state and may be sold or disposed of.
Can I track the status of my claim online?
- Yes, you can create an account on the DOR’s website to track your claim.
What if I have questions or need more information?
- You can contact the Unclaimed Property Division of the WA Department of Revenue at (360) 902-6404 or visit their website at www.dor.wa.gov/up.
