HONOLULU (KHON2) — Add to the list of things to do at the onset of a new year–checking whether you have unclaimed funds.
Unclaimed funds are assets that were never collected from utilities, banks or other institutions by the owners. Those funds are then usually turned over to the government, with whom owners can make a claim.
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Unclaimed funds, according to the City and County of Honolulu’s Budget and Fiscal Services, are turned over “from various sources which may include real property tax refunds and payments to vendors.”
Residents, known as payees, will need to file a claim for the repayment. If the payee is deceased, their estate may make a claim. If the estate of the deceased payee is closed, “any person lawfully entitled to the undisposed property of the deceased payee when supported by evidence that may be deemed satisfactory by the BFS Director” may make a claim for the funds.
To find out whether you have unclaimed funds on Oahu, search Honolulu’s Department of Budget and Fiscal Services website.
The State of Hawaii also administers an unclaimed property program, which is governed by Chapter 523A of the Hawaii Revised Statute, which states the limitations that one has in recovering property.
According to the state, unclaimed property includes: contents of safe deposit boxes; deposits from utility companies; dormant bank accounts; insurance and medical refunds; shares of stocks and uncashed travelers checks, money orders, dividend checks and payroll checks.
To check the State of Hawaii’s unclaimed property list, visit their website.
The U.S. Department of Treasury’s website directs people to the National Association of Unclaimed Property Administrators’ website, where you can find a database of unclaimed money in other states.
