If banks, credit unions, utilities companies, governments, or other organizations owe you money—and cannot locate you—then you may have unclaimed property.
Common forms of unclaimed property include savings or checking accounts, stocks, uncashed dividends or payroll checks, refunds, traveler's checks, trust distributions, unredeemed money orders or gift certificates (in some states), contents of safe deposit boxes, and more.
Pursuant to T.C.A. § 66-29-101, et. seq, the Unclaimed Property Division does not pay interest on abandoned property, except as to abandoned property that was remitted to the State as cash and the property was interest bearing when the property was delivered to the Treasurer.
If the Division pays interest on a claim, additional dividends after the security was received, or proceeds from the liquidation of securities, the Unclaimed Property Division is required to provide tax documents, in the form of an IRS 1099. However, the tax form will only include the amount generated from interest, dividends, and proceeds.
Discover more types and how property becomes unclaimed!