Frequently Asked Questions
Question: Wouldn't the Agency holding these funds eventually contact me?
Answer: The agency holding these funds has a monumental task managing and administering the fiduciary responsibilities to the people and businesses whose assets they are overseeing. Government agencies can only do so much when it comes to high ideals. We are sure that those who work at this agency would love to be able to get to the vast majority of the people and businesses in their data base. Unfortunately, like most other government agencies, they do not have the manpower to do so. That is precisely the reason why the legislature has written into the law a means of holding these agencies accountable for the proper handling of these assets.
Question: How long do I have to claim these funds?
Answer: These funds have often been there for many years. There is no statute of limitations under current law, so you may claim these funds anytime. But, law makers often change laws to suit their own needs which often do not align with those of businesses, or affluent constituents.
Question: What if I do not have the documentation you said I needed?
Answer: Each claim has many facets, and many have multiple accounts within the claim that may or may not have adequate documentation to substantiate a particular component of a claim. Every claim is evaluated on the individual components of the claim. The agency holding your funds will determine on a case by case basis, those items in the claim that have enough documentation to prove that particular component. We will assist you with the documentation needed to substantiate every component of your claim. On those rare occasions when there is not enough documentation, we will submit it and allow the agency to determine if there is sufficient evidence to substantiate that particular component. In some cases, individual components may be denied due to lack of documentation, but they are rare and generally do not impact the overall claim significantly.
Question: How long does the claims process take?
Answer: The law that protects your funds from the potential abuses by unethical businesses has provided safeguards to protect your funds from false claims. Because of these safeguards, the agency holding your funds is permitted by law to hold your funds for 180 days before paying a claim. In the past, this government agency acted quickly on claims that were easily proven and substantiated. But, it has become standard practice for the agency to hold every owner's funds for the entire 180 day period. The agency will issue you a check on the 180th day, and mail it to you. Depending upon the day of the week and holidays, your check should be delivered within 190 days from the date the agency received your claim form packet.