Unclaimed Money in Wyoming

Wyoming's laws on unclaimed money

In Wyoming, like in many other states, there is a legal framework in place that requires businesses, financial institutions, and government agencies to report unclaimed property. These entities, known as “holders,” are obligated under state law to submit reports detailing any personal property that has remained unclaimed after a period of time, typically five years.

To comply with these statutes, holders must locate the rightful owners of the unclaimed property by sending due diligence letters to the owner at their last known address for properties over a threshold amount. If these efforts fail, the property must be reported and transmitted to the state.

Businesses and agencies must submit their unclaimed property reports by November 1st annually, encompassing the period from July 1 to June 30 of the previous fiscal year. In addition, holders are legally required to retain records associated with the unclaimed property for a minimum of five years after the property is reported. These records serve both as a basis for fulfilling reporting requirements and as evidence of their thorough search for the lost owners.

Unclaimed money can originate from a variety of sources, often resulting from forgotten or mislaid assets. In Wyoming, as in other states, these sources commonly include:

1. Dormant bank accounts
2. Uncashed paychecks
3. Government refunds
4. Rental security deposits
5. Utility deposits and overpayments
6. Insurance policies
7. Stocks and dividends
8. Unredeemed gift cards or certificates
9. Inheritances
10. Safe deposit box contents

Special cases: Bankruptcy courts

If you believe that you are entitled to unclaimed funds in a bankruptcy case, such as distributions that creditors or claimants did not claim, you must first identify the specific case by contacting the bankruptcy court that handled the matter, then file an Application for Payment of Unclaimed Funds, using the court-approved Form 1340.

Documentation is essential. You will typically be required to submit proof of your claim, which may include identification documents, documentation that substantiates your original claim in the bankruptcy case, and any legal documentation proving your right to the funds, such as a will or court order.

To find out if you have unclaimed funds in a bankruptcy case, you can also use the unclaimed funds public search utility provided online by the U.S. Bankruptcy Court in Wyoming.

Steps to claim unclaimed money in Wyoming

Conclusion

It’s essential to make the search for unclaimed property a recurring task. New properties are continuously being turned over to the state, and even a previous search that turned up empty could yield different results months or years later. To keep a vigilant watch, set regular reminders—perhaps annually, around tax time, or when updating personal financial records—to check MoneyBot5000 for any new listings that may pertain to you. Also, remember to search not just for your own name, but also for any deceased relatives whose estates you may be managing or inheriting.