According to Auditor of State Andrea Lea, Arkansas holds more about $280 million in property that is considered unclaimed money in Arkansas. That means that nearly 1 in 4 people who have lived in Arkansas have something that is unclaimed that they could potentially receive money for. Millions of unclaimed funds are handed over to State Treasurer’s Office each year by financial institutions and businesses. Since 1970 the great Arkansas Treasure Hunt has returned $74+ million in unclaimed property to rightful owners.
If you or a family member has ever lived in Arkansas, then a portion of the outstanding $280 million in unclaimed property could belong to you.
According to the Arkansas State Auditor website, “It is the mission of the Arkansas Auditor of State to return unclaimed property to its rightful owners or heirs. Each year, businesses and government agencies also known as “holders” report millions of dollars to the state. Then the state diligently attempts to reunite owners with their lost assets. Unclaimed property includes, but is not limited to, savings and checking accounts, unpaid wages or commissions, stocks, bonds, utility deposits, insurance proceeds, cashier’s checks, money orders, and contents of safe deposit boxes.”
Who is a “Holder” of Unclaimed Money?
The Arkansas Auditor of State, Andrea Lea states on the Arkansas State Auditor website that any business in possession of unclaimed property is a potential holder. Examples of holders include banks, insurance companies, investment firms, utilities, corporations, partnerships, LLCs, sole-proprietorships, government agencies, nonprofit organizations, estates, trusts, universities, hospitals, doctor’s offices, grocery stores, gas stations, or any other entity holding money for a client, customer, or otherwise.
Who needs to report unclaimed property?
By law, businesses and government agencies are required to review their records annually to determine if they possess any unclaimed property and file a report with our office. If you are a holder of unclaimed property belonging to Arkansas residents, you must file an annual report with the Arkansas Unclaimed Property Division. See A.C.A. 18-28-201
The Arkansas State Auditor website enables individuals and businesses to search for lost funds online through the state database. Their site provides information pertinent to unclaimed money and procedures for filing a claim. Their search feature appears to require a social security number. Every year, Arkansas’ UCP (Unclaimed Property Program) publishes a list of that year’s property holdings in Arkansas newspapers.
Auditor of State of Arkansas
1401 West Capitol Avenue, Suite 325
Little Rock, AR 72201
(501) 682-9174 or 800-252-4648
email to email@example.com
Website address: Arkansas State Page