Unclaimed money Florida totals are over $2 billion in both money and property. It is estimated that nearly one in five Floridians have money owed to them. Like many states, unclaimed money Florida has no statute of limitations and can be claimed anytime.
These accounts can contain cash from stocks/bonds from a decease relative to forgotten utility deposits. They also can be items such as rare coins and even gold bouillon forgotten in safe deposit boxes that were unknown or not willed properly. In fact, each year Florida holds an unclaimed property auction to clear out its overstuffed vault. This money is then placed in an account with the original owners name to wait to be claimed.
Unclaimed Money Florida | Online Database
Florida’s online unclaimed money and property database is very user friendly. It prompts the user to ‘claim’ based on the address matching and then will ask follow up questions to help expedite the claim process. The actual processing time for claims is up to 90 days in Florida.
Businesses or holders of the accounts must attempt to reach out to the rightful owners and when they go unclaimed they are turned over to the state. Florida then will act as the custodian of the money, never taking actual possession. Their site also offers a resource section for other places to search for unclaimed money that may be held by a different entity than the state. Such as the IRS and Veterans Administration.
Florida uses the interest on unclaimed funds for public schools and public education. The state offers workshops for holders of unclaimed funds and procedures for fund turnover to the state. This allows local businesses the opportunity to educate themselves on the statues for reporting unclaimed money and property.
Florida Department of Financial Services
Post Office Box 8599
Tallahassee, FL 32314-8599
Phone/Fax: (888) 258-2253 or (850)413-5555