Going Down to Mississippi To Get Your Unclaimed Property Back
The unclaimed money phenomenon has become more popular in recent years. As people are becoming increasingly aware of the amount of unclaimed cash in the custody of the United States government, they are starting to wonder—could some of it be mine?
Many people in Mississippi have some lost money lying around, whether it is uncollected insurance, inheritance from a deceased relative, or a forgotten bank account. The state of Mississippi has over $31 million in unclaimed property. It is worth checking if some of it is yours.
You may not get rich, but some unclaimed cash can provide necessary relief for your financial struggles. Thanks to free access to numerous databases, the search process is not complicated. DoNotPay offers the fastest way of claiming your lost funds.
Crucial Aspects of Unclaimed Money in Mississippi
It is crucial to know how property gets the unclaimed status in Mississippi. The term refers to any tangible or intangible property without a known rightful owner, supervised by the state.
The dormancy period in Mississippi lasts longer than in other states—about 5 years for most assets. If the holders fail to establish contact with the property owner during that time, they are required by law to turn the property over to the Mississippi State Treasury Department.
Holders are also obliged to report the unclaimed funds every third year. In other American states, the holders are expected to file annual reports.
The important thing to remember is that the State Treasurer takes custody, but not the ownership of the unclaimed funds. It is also the Treasury Department’s responsibility to find the rightful owners of the property, but with so many unclaimed funds, it lacks resources to locate every potential owner or heir in Mississippi.
Knowing that the government is only holding onto your money until you claim it should be a huge relief. We suggest you take matters into your own hands and use the fastest way of claiming your forgotten funds—DoNotPay.
Why Is There Unclaimed Money in Mississippi?
It is hard to believe that people would forget that they have funds lying around. The truth is that they are mostly unaware of what counts as unclaimed money. Each state defines the term differently, but there are numerous similarities.
Here is a list of assets that can constitute unclaimed property in Mississippi:
- Life insurance policies
- Traveler’s checks
- Checking and savings accounts
- Money orders
- Gift card certificates
- Safe deposit boxes
- Securities and dividends
The dormancy period is five years for most funds, except for traveler’s checks—15 years, money orders—seven years, and safety deposit boxes—no provision.
Unclaimed Money MS—Tips on How To Prevent Your Funds From Becoming Abandoned
With around $58 billion of unclaimed funds across the United States, it seems quite easy to lose track of your funds.
Here is a quick guide to preventing your money from becoming unclaimed:
- Inform someone you trust about the funds you possess, including your will, life insurance, and bank accounts
- Make sure you keep an accurate record of all your assets, including user names, passwords, account numbers, and safe deposit boxes
- Read your emails and respond to queries about account balances from financial institutions. Make regular transactions from every account. That way, you will prevent your bank account from being closed because of inactivity
- Use your checks before they expire
- Update your beneficiary information
- If you are changing jobs or moving, update your bank, previous landlord, and the company you worked for on your current address. You want to make sure any forgotten paycheck or utility deposit finds its way to you
How To Check for Unclaimed Money in Mississippi on Your Own?
Before you begin searching for missing funds, you should know that there is no centralized system where you can find missing money, so you will have to search through each of them separately. You should include all the states you or your relatives previously lived in because they might hold the key to finding your lost property.
When searching for missing funds in Mississippi, you can use the State Treasury of Mississippi’s official website. The National Association of Unclaimed Property Administrators (NAUPA) website allows you to search through other states’ databases as well. Here is a step-by-step guide to both:
|State Treasury of Mississippi||NAUPA|
When filing a claim, you will be required to provide personal information, such as your name, address, and Social Security number. You are also expected to prepare certain documents to prove ownership or family connections.
After you complete the claim form and get it notarized, you have to send it, along with the documents, to the required Treasury Department address. For the state of Mississippi, that address is:
Office of the State Treasurer
Unclaimed Property Division
P.O. Box 138
Jackson, MS 39205
Let DoNotPay Help You Find Unclaimed Property in Mississippi FAST!
DoNotPay can help you find your money with minimum effort. We search through all state and federal databases, so you don’t have to perform individual state searches. You will save time and nerves as DoNotPay does all the heavy lifting for you. Here is how the process works:
- Access DoNotPay from your web browser
- Click on the Missing Money feature
- Type in your personal information, along with previous addresses
And that’s it! DoNotPay will include all the places you lived in to find your missing funds. If there is a match, the next step is to use the ClaimMy Property feature. DoNotPay is here to make your life easier by filing the claim in your name! Don’t hesitate and start the claim process today with our help!
DoNotPay Can Solve Other Problems!
Do you need help with electric bills, or would you like to know how to save money on bills in Mississippi? DoNotPay will provide assistance. Perhaps you need to claim compensation for a canceled flight with Delta Airlines? We know the easiest method of doing so. We can also help you claim lost money in other states, such as Arkansas, Alabama, and Georgia.
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