Indiana's Unclaimed Asset Pool Overflows with New Deposits

Recently the state of Indiana offered an amnesty program to financial institutions to turn over assets related to inactive accounts. The Hoosier State Attorney General Greg Zoeller said that in 2010 companies could turn over cash to the state without any penalty if it was being transferred late. This resulted in almost 400,000 accounts being deposited into the treasury's coffers.

These new assets were over $55 in value, with most claims worth just under $100. The fund include bank deposits, stocks, bonds and other missing assets.

The state holds onto the money for up to 25 years---after which time the state claims the money to pay for government expenses.

Indiana has over $380 million of Unclaimed Cash waiting to be found

Indiana's government is hopeing that people who lost over $380 million manage to search out their funds and collect them. The state attorney general says that people all over the state--Fort Wayne, South Bend, Indianapolis, and Munster-- have had old bank accounts, stock certificates, rental deposits and more escheated over to the state and it's just a matter of conducting a quick online search, filling out some paper-work, waiting and depositing the state check into your checking account.

Let me know how it works for you.

--Tom

Search Indiana Unclaimed

The Indiana Attorney General's office has posted a video of their recent success at the state fair in helping people find missing money and unclaimed assets.

A handful of people managed to get any where from $20 to $1,000 after doing an online search. Some folks found money owed to them from an employer from a summer job ten years ago. Another man found some stock that he had forgotten about and one other lucky fellow discovered $500 of dividends that were never received because he had moved and didn't notify the company of his new address.

Indiana's state treasurer and top-lawyer are keen on getting Hoosiers their money back. Fortunately, you don't need to attend the state fair in Indianapolis, you can search from the comfort of your living room while sitting at your computer.