Unclaimed-Funds.com

Although unclaimed money in Idaho currently totals $48 million, which is no small potatoes, there is some bad news about unclaimed stat tax money

Time is running out to lay claim to nearly $2 million in unclaimed property held by the State Tax Commission.

Officials say residents have until July 1 to prove ownership to more than $1.8 million of the state’s total $48 million in unclaimed cash, stocks, bonds and other assets.

Sadly, Idaho is one of the few states that has a time limit on claiming ID unclaimed assets:

Idaho takes ownership of property that goes unclaimed for more than 10 years.

Most states act as custodians, meaning they simply hold residents’ missing money indefinitely, until it is claimed. This means that Idahoans should understand the sense of urgency in reclaiming their forgotten funds goes beyond just a personal desire to take them back in a timely manner. The citizens of ID run the risk of forfeiting their unclaimed properties if they don’t learn the right strategies for locating them and claiming them ASAP.

Luckily for those Spud State residents who are new to the abandoned cash game, there are experts in Idaho unclaimed funds who can show them the ropes to jump start their search, and let them know the joys of found money.

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Think you’ve got all the time in the world to find your Idaho unclaimed money? Think again!

While most of the 50 states will hold your missing money until you or your heirs claim it, Idaho only gives you 10 years. Of course even in other states, there’s no sense in letting the government hold your money, but in Idaho you’ve really got to get moving.

Via Idaho’s own State Tax Commission:

Most states act as custodians of your property, holding the property indefinitely until you or your heirs claim it. However, Idaho takes permanent ownership of the property if it has not been claimed within 10 years from the date the property was turned over to the state. At that time, those who were listed as owners, and the heirs of those owners, will lose all rights to that property.

At first, 10 years seems like plenty of time… But consider how old most sources of lost government money really are. If you forgot about these funds in the first place, odds are it was some time ago.

The bottom line is that unclaimed property in Idaho does come with an expiration date, so you owe it to yourself to search today!

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