TAX NEWS - 2010

Unclaimed Property: Looking for lost money? It's now available through State Treasurer's Office - Idaho Tax

BOISE, IDAHO -- Idahoans looking for unclaimed money will now claim it through the State Treasurer's Office as of July 1. The Idaho Tax Commission is transferring administration of the Unclaimed Property Program due to a new law. People looking for unclaimed assets can go to the Treasurer's website at www.sto.idaho.gov/unclaimedproperty/. They can also call the program toll free at (877) 388-2942 or 332-2942 in the Boise area.

Businesses that return unclaimed property to the state will receive notices about the address change. And the Tax Commission website will link to the unclaimed property information on the Treasurer's website.

Unclaimed Property's move to join the Treasurer's Office is not unusual. In fact, 39 states in the U.S. have their unclaimed property programs under their state treasurers.

"The transition should be seamless for the public," said Melanie Wade, program specialist for the Unclaimed Property Program. "It makes perfect sense — state treasurers are custodians of the money of the people of their state. It will be a better business fit for our mission."

Unclaimed property includes stocks, bonds, mutual funds, bank accounts, uncashed payroll checks, utility deposits, traveler's checks, contents of safe deposit boxes, and other money.

The state currently has nearly $57 million in unclaimed property.