What is Unclaimed Money
What is Unclaimed Money?
The Department of Finance (DOF), as one of many responsibilities, works to return unclaimed money to the rightful owners. The unclaimed money may be the result of a check being returned to the county as undeliverable or a check that has not been cashed after a certain period.
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This is a free service - there is never a fee for claiming your property. One out of eight people nationally have unclaimed property somewhere. Why not check to see if Fairfax County has unclaimed money that belongs to you?
What Attempts Are Made To Find The Rightful Owners?
The DOF is required to exercise "due diligence" in attempting to locate the rightful owner of property. Substantial efforts are made by DOF, which extend far beyond the basic requirements of the legislation. First, the DOF mails a first-class letter to the owner's last known address informing them of the dormant status of the property. If DOF is unsuccessful in finding the rightful owner, a report, along with the money, is submitted to the State of the owner's last known address.
How Often Is The County Required To Report and Remit Unclaimed Money?
State law requires most persons, including the County, holding unclaimed money to file a report of it and remit money to the State prior to it's annual specified due date. The report date for the Commonwealth of Virginia is November 1 and it consists of those monies that are unclaimed as of June 30 immediately preceding the report year. Va Code Section 55-210.12(D).
Why Does the County Request My Social Security Number?
Disclosure of your Social Security Number (SSN) will expedite the evaluation of your claim. Your SSN will be used only for that purpose and disclosure is voluntary. If you refuse to disclose your SSN, the County will not deny your claim as a result. In the event that you refuse to disclose your SSN, the County reserves the right to request additional information to evaluate your claim.