Unclaimed Money in South Dakota—A Way to a Quick Buck
Currently, there is more than $58 billion in the USA waiting to be claimed, and part of it could be yours. One person from Connecticut reclaimed a whopping $32.8 million! You may not be this lucky, but looking into unclaimed property is worth a try.
We’ll guide you through different ways to find South Dakota unclaimed money and suggest the best one.
What Is Considered Unclaimed Money in South Dakota?
Unclaimed money includes abandoned funds whose rightful owner didn’t claim them. Banks or other institutions holding the funds should contact the owner and inform them about it. If they don’t succeed, the next step is to report the unclaimed money to the State Treasurer. The usual dormancy period before the financial institutions report the funds is three years in South Dakota.
South Dakota holds millions of dollars in unclaimed money, and it includes:
- Unpaid wages
- Stocks and bonds
- Uncashed checks
- Unclaimed insurance money
- Contents of safe deposit boxes
- Funds in savings and checking accounts
Why Is There Unclaimed Cash in South Dakota?
Between 2015 and 2018, South Dakota returned around $62 million in unclaimed funds to their rightful owners. How does such a large sum of money go unclaimed? This can happen when:
- A person leaves no last will and testament
- A tenant doesn’t collect the safety deposit
- Someone doesn’t claim their refund or insurance money
- Someone dies, and it’s hard to contact the heirs
- A bank goes under, and clients cannot retrieve their funds
- An employee doesn’t collect their last paycheck or commission
- A bank account goes dormant because it was inactive for several years
Why Don’t People Claim Their Money?
It may come as a surprise that people don’t collect the money they are entitled to. The reasons usually include a person not being aware of the missing assets or the lack of valid contact details.
Financial institutions, insurance companies, and landlords are obliged to contact you if they hold your money. If you changed your address or other contact information, it’s highly unlikely that they will track you down.
Beware of Unclaimed Money Scams
Scammers tend to find ways to trick innocent people and get their money. When it comes to unclaimed money scams, they count on the fact that you aren’t familiar with the process of getting unclaimed funds. Fraudsters usually take advantage of people who don’t know that:
- Government agencies don’t contact owners of unclaimed money by phone
- A person can collect unclaimed funds under their name without a fee
If someone calls you and claims they can deposit the money into your account if you provide them with your bank info, Social Security number, or pay them a fee, chances are it’s a scam.
What you should do is check the state treasury website or use DoNotPay. This way, you can find reliable information about any unclaimed funds under your name and the safe ways to get it.
When Can I File a Claim for Lost Money in South Dakota?
If you know exactly what funds you haven’t collected—such as a paycheck or a safety deposit— you should contact the institution in question as soon as possible. In case you are not sure whether there is any money under your name lying around, you should begin your search.
South Dakota holds unclaimed money indefinitely, so you don’t have to worry about not finding it in time. To learn more about the unclaimed property regulations, check the South Dakota Codified Laws § 43-41B.
How To Find South Dakota Unclaimed Money
The National Association of Unclaimed Property Administrators (NAUPA) is the closest thing to a national database of unclaimed money in the U.S. Their website will show you an interactive map, so you can click on the state you are interested in. It will redirect you to the State Treasury website.
You can cut the intermediary and go straight to the South Dakota State Treasurer website.
To search for any unclaimed funds under your name in SD, do the following:
- Visit South Dakota’s state treasury website
- Click on Get Started for Free
- Type in your full name
- Enter your city, Zip code
- Fill in the Property ID if you have one
- Hit Search
- Click on Claim next to Owner’s Name once you locate your assets
- Tap on View Claimed Properties in the bottom right corner
- Select the Claimant’s Relationship: heir, owner, estate representative, or business representative
- Hit File Claim
- Fill in the claimant information:
- Full name
- Date of birth
- Email address
- Other contact information
- Your Social Security number
- Click on Next
- Follow the prompts to submit your claim
The SD State Treasurer will send you a claim form via email and ask for additional documents, such as a copy of your ID and your Social Security number. You can upload them on the website or send them via mail or email.
It usually takes two to three weeks to process the claim. If you don’t hear back from the State Treasurer, you should contact them to check on the process:
- Phone: (605) 773-3379 or 1-866-357-2547 (toll-free in SD)
- Email: email@example.com
SD State Treasurer-UCP
124 E Dakota Ave
Pierre, SD 57501
Check out all the ways you can initiate the claim:
|Can You Claim Funds via||Yes/No|
|SD State Treasurer Website||Yes|
Fast-Track Your Unclaimed Money Search With DoNotPay
Searching for unclaimed money, collecting documents, and submitting a claim can be overwhelming. If you’ve lived in different states, you need to comb through multiple platforms and follow state-specific guidelines. Don’t despair—DoNotPay can help you find your missing funds in no time!
Thanks to AI-powered technology, we will comb through numerous state and federal databases and find any funds under your name. Here’s how it works:
- Open DoNotPay in your web browser
- Choose the Missing Money feature
- Fill in your personal details, including your middle name and all previous addresses
- Tap on Claim My Property when we find your unclaimed money
DoNotPay will then file a claim on your behalf so that you can sit back, relax, and wait for your money.
DoNotPay Knows the Money Moves
DoNotPay is adept at problem-solving in other areas, not just finding unclaimed money.
Access DoNotPay from a web browser, and count on our assistance when you need to:
- Get rid of text message spam
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