Right now there are untold amounts, up to millions of dollars in Alabama unclaimed funds sitting in Treasury accounts all across the state. First off, a lot of people don’t even really think things like this could happen. Or they want to know, “How can this happen?” How can residents all across Alabama state lose track of so much money? That is essentially what Alabama unclaimed funds are, aren’t they?
They are funds that are not always accounted for or lost track of. They do rightfully belong to someone. Someone out there is missing hundreds or even thousands of dollars. Some of these residents may only be missing twenty dollars or maybe even less, but the point is the unclaimed funds in Alabama are out there and it does exist. These types of funds are taking up valuable resources to keep track of and maintain and with this money just sitting there is really is not doing anyone any bit of good at all.
Alabama Residents And Alabama Unclaimed Funds
The Alabama unclaimed funds in question come from a variety of sources and stories. Some Alabama residents are owed money from recent but previous years’ tax returns or maybe even back owed taxes from several years before that. Some of these people are owed money from their last job or a previous employer. This really happens all the time that people are mailed out their final paycheck after leaving a job or being let go and for whatever reason those people never cash that check. Either the cash got there after the individual changed residents and it was not properly forwarded to the new address or it was sent to the wrong address to begin with.
It is even possible for an old employer to try to hold onto your 401K until you request to have it transferred into your next companies 401K account. They might even try to send you the full 401K amount through the mail to wrap everything up from your employment with their company. Or if it was handled through your previous employer but by an actual third party then your last employer might not even be aware of what you have or how you would go about collecting these funds or making the transfer. All of these kinds of checks and accounts add to the already growing unclaimed funds in Alabama. Now you can see how situations like this can contribute to this kind of money’s growth.
How Do Alabama Residents Claim These Types Of Funds?
Whether or not you think there is any chance that you could be owed Alabama unclaimed funds, you owe it to yourself and the state in which you live to conduct a free unclaimed funds search. Thanks to the power of the Internet, the search is instant and will let you know quickly just how much money you have waiting for you out there, if there is any money sitting out there waiting for you at all. If you are owed unclaimed funds in Alabama, all you have to do is contact the department in question and they will mail you check or sometimes you can have the money transferred into your bank account.