Welcome to Alaska's Unclaimed Property Program

Have you ever wondered what happens to bank accounts that are never closed but have been inactive for several years? Have you ever wondered if you picked up the utility deposit from your first apartment? Did you receive your last pay check from your summer job in 1990? Can you positively state that you have received and cashed all medical insurance reimbursements throughout the years? If these questions make you wonder, read on to find out if you have unclaimed property somewhere in the United States.

General Dormancy Periods

Alaska's Unclaimed Property Act (AS 34.45) requires businesses (profit and non-profit) and governmental agencies to file unclaimed property reports with the Department of Revenue. However, a negative or zero report is not required in Alaska if a business or governmental agency has no unclaimed property.

Unclaimed property is any intangible amount owed or held by an organization that remains unpaid, uncashed or has no evidence of positive owner activity for an extended period of time. Most property is considered abandoned after three years.

Unclaimed property does not include overpaid contributions by employers to the unemployment compensation fund (hover over Unclaimed Property Tab at the top of the page for assistance), real estate, vehicles or most tangible property. Contents of a safe deposit box is the only tangible property that is reportable.

Unclaimed property includes:

• Bank accounts
• Uncashed checks such as payroll, insurance payments or travelers checks;
• Utility and/or phone company deposits
• Safe deposit box contents
• Insurance proceeds
• Stocks, bonds and mutual funds
• Gift Certificates and Gift Cards

Abandoned property is turned over to the Department of Revenue from many sources including banks, credit unions, corporations, utilities, insurance companies, governmental entities and retailers throughout the United States.

The National Association of Unclaimed Property Administrators' (NAUPA) web site contains inform ation about each state's unclaimed property laws as well as a listing of states that have searchable databases. Unclaimed Property Tab at the top of the page.

To find out if you have unclaimed property on file with the Department of Revenue, use the missingmoney.com database. Don't forget to click the Unclaimed Property Tab at the top of the page to check other states unclaimed property databases.