Kentucky Revenue Unclaimed Money

Kentucky unclaimed money may come from a variety of sources like a lawsuit settlement inheritance from a loved one s death tax payment return bank account or something similar.

Kentucky revenue unclaimed money. Kentucky tax extensions for victims of hurricane laura warning from the kentucky department of revenue scammers trying to fool taxpayers with fake threatening letters covid 19 tax relief faqs now available. Kentucky is holding hundreds of millions of dollars in unclaimed money and property. Kentucky s unclaimed property fund is managed through missing money a national database of unclaimed property. Its tough to find recent totals but as of four years ago the total was near 250 million.

Kentucky s unclaimed money program started in 1942. Often times these assets can become lost when you move change jobs or if a family member passes away. The money will be held indefinitely for the named owner or for that owner s lawful heirs. Missing money is a partnership between the kentucky state treasury the national association of unclaimed property administrators and avenu.

Kentucky is currently holding over 300 00o million for 200 000 individuals. Based on the trends of unclaimed money totals throughout the country that number is certainly higher. The kentucky state treasurer administers kentucky s unclaimed property fund. Unclaimed property generally consists of payroll checks unclaimed safety deposit boxes old life insurance policies stocks or vendor checks that have remained unclaimed by their owners after several years.

The commonwealth of kentucky currently holds more than 40 million worth of unclaimed property for 150 000 individuals. Kentucky has no time limit for filing a claim. More than 15 million of that has been returned to the rightful owners. Unclaimed property is generally money based property such as uncashed checks money in savings accounts money in checking accounts unpaid deposits and other negotiable interests.