Many Tennesseans May Have Unclaimed Funds

Posted at 7:11 PM, Jul 21, 2016

Do you have unclaimed funds? Those with the Department of Treasury said they want consumers to be aware of that possibility.

Officials said consumers should be on the lookout for letters from the State of Tennessee.

Those letters have indicated they may have unclaimed funds.

The letters were recently mass mailed by the State of Tennessee’s Treasury Department, Division of Unclaimed Property. View an example letter by clicking here.

According to reports from the Department of Treasury, the funds have been “intangible assets held by financial institutions or companies that have had no activity or account holder contact for a year or more.”

That has included savings and checking accounts, refunds, customer overpayments, contents of safe deposit boxes, stock certificates, unclaimed wages, gift certificates, and more.

For those wanting to find out if they have unclaimed property with the State of Tennessee, visit them online by clicking here or call 615-741-6499.

Once the consumer’s name has been entered and property has been found, a quick claim can be submitted with no fees necessary.

Those with the Department of Treasury released the following tips to prevent accumulating unclaimed property:

  • Deposit or cash all checks for dividends, wages, insurance settlements, etc. without delay.
  • Respond to legitimate requests for confirmation of account balances and stock holder proxies.
  • If you have a safe deposit box, record its number, bank name and address, and give the extra key to a trusted person.
  • Prepare and file a will detailing the disposition of your assets.