Moving is one of the top reasons money can become unclaimed. People move and forget to forward their address of notices are sent after the forwarding of their mail has expired. One of the largest groups who move with great frequency are US military members. They typically have 2-3 years in one spot before being relocated to their next assignment. One state is ramping up a specific initiative to get those service members their money back according to a report.
In Arizona there are nearly 9,000 current and former military members who have unclaimed money or unclaimed property. These funds can be lost bank accounts, uncashed checks, rebates, tax refunds and even physical property from abandoned safe deposit boxes. This missing money totals over $2.3 million and can date back nearly 30 years in some cases. One person even has over $86,000 owed to them as unclaimed money. According to the report, the last known addresses or bases these funds were from are: Davis-Monthan Air Force Base; Luke Air Force Base; Fort Huachuca and Yuma Proving Ground, both Army installations; Camp Navajo Army facility; and Marine Corps Air Station Yuma.
Authorities for the Arizona state revenue department are looking for these individuals by sending notices to their last know addresses. The hope is that they either get forwarded, a family member finds them or the current property owner takes it upon themselves to forward the message along. If you or any loved ones have served in any state be sure to tell them to search. Military members are prime candidates for unclaimed money owed to them. Remember searching is free!