What is Unclaimed Money in Nevada?
Under Nevada law, unclaimed money refers to any financial asset that has been inactive or dormant for a period of at least five years. This includes things like uncashed paychecks, interest payments, security deposits, and refunds.
The primary statute governing unclaimed money in Nevada is NRS Chapter 120. This statute sets forth the procedures for reporting and claiming unclaimed money, as well as outlines the penalties for failing to do so.
Persons or entities in possession of unclaimed money in Nevada are required to file a report with the Nevada State Treasurer's Office and turn over said property in a process known as escheatment. This report must include the name and last known address of the person or entity to whom the money belongs, as well as a description of the money.
Owners who can verifiably prove their entitlement to any unclaimed money in Nevada may file a claim with the State Treasurer's Office. They will need to provide proof of their identity and relationship to the property, as well as supporting documentation showing your entitlement to the funds.
Entities who fail to report or claim unclaimed money in Nevada may be subject to civil or criminal penalties. Additionally, the property may be forfeited to the state.
How to Find Unclaimed Money in Nevada
Persons who are owed unclaimed money in the state of Nevada may be able to find it through the Nevada State Treasurer's Office. The office maintains a database of unclaimed property, which includes money that has been left behind by former residents or businesses.
To search for unclaimed money, the requestor will need to provide their name and contact information. They may also need to provide proof of their identity, such as a driver's license or passport. Once they have submitted their information, the office will search its database to see if there is any unclaimed money that belongs to them.
If unable to find the unclaimed money through the Nevada State Treasurer's Office, the requester may check with other state agencies, such as the Nevada Department of Taxation or the Nevada Secretary of State.
How Do I Find Nevada Unclaimed Money for Free?
The official Nevada unclaimed money database maintained by the state treasurer can be used to search unclaimed funds and properties for free. Typically, requestors are required to only provide the information needed to facilitate a search in order for a query to be processed. Alternatively, state residents can also access unclaimed money through federal agencies and databases including:
- The Treasury Hunt
- The National Association of Unclaimed Money Property Administrators
- Credit Union of Unclaimed Shares
How to Claim Unclaimed Money in Nevada
After finding an unclaimed property or unclaimed funds using the the Nevada unclaimed property search service, the claimant will be required to sign up on the platform. Individuals making personal claims will be required to provide their name, address, birth date and email, while business signups will require the company’s name, address and email.
Using the login information, the claimant may proceed to log in and provide the information required to claim the property of interest. Typically, this includes the claimants personal information, proof of ownership (of the unclaimed funds or property) and proof of identity. The claim form may then be submitted using the secure link provided on the website or via mail to:
Nevada Unclaimed Property
Grant Sawyer Building
Las Vegas, NV 89101
Toll-free-Nevada-only: (800) 521-0019
Local: (702) 486-4140
How Long Does It Take to Get Unclaimed Money in Nevada?
The amount of time it takes to receive unclaimed money in Nevada depends on a number of factors, including the type and amount of money involved, as well as the claim process itself.
In general, however, most people can expect to receive their unclaimed money within a few weeks to a few months. However, there are always exceptions to this timeline.
Who Can Claim Unclaimed Money From Deceased Relatives in Nevada?
In Nevada, the unclaimed money or property of a deceased person may be claimed by:
- The surviving spouse;
- The surviving domestic partner;
- The surviving children;
- The surviving parents; or
- The surviving siblings.
If there is no surviving family member who is eligible to claim the unclaimed money or property, it will escheat to the state of Nevada. Claims may also be made by the estate executor of the deceased and court-appointed probate administrators.
The supporting documents required to process these claims include:
- A copy of the death certificate;
- A copy of the will, if any; and
- Proof of relationship to the deceased person, such as a birth certificate or marriage certificate.
Further questions about claiming the unclaimed money or property of a deceased person in Nevada may be made by contacting the Nevada State Treasurer's Office.
What Happens to Nevada Unclaimed Money if No One Claims It?
There is no statute of limitations on unclaimed property in Nevada. This means that the state can hold onto the money indefinitely, until someone comes forward to claim it.
If the owner of the property is deceased, the money will go to their estate. If there is no estate, or if the estate is unable to claim the money, it will become the property of the state.
The state of Nevada does make an effort to locate the owners of unclaimed property. They will send out notifications by mail when the property is about to be turned over to them. However, it is ultimately up to the owner to claim their own property.