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Credit: MissingMoney.com (Screengrab for search John)
Alberta government says almost $900,000 in uncashed dividends belonging to an Albertan (or who lived in Alberta) is waiting to be claimed.
As per the news release, in Unclaimed Property Registry, more than 250,000 Albertans could find forgotten funds that are currently resting in a pot worth about $103 million. This includes almost $900,000 in uncashed dividends belonging to an individual Albertan. According to the government, it is the highest individual value ever held in the registry.
Alberta government wants Albertans to search the registry to see if any unclaimed property is registered in your name. You can search for free, across multiple jurisdictions with unclaimed property programs.
Financial assets currently held in the registry include uncashed cheques for government-issued benefits, employment income, scholarships, utility refunds or insurance proceeds, and other funds such as investment-related income or interest payments.
Alberta’s Unclaimed Property Registry, which can hold both tangible and intangible items, helps individuals and corporations find their lost money. The registry was established in 2008 by the Unclaimed Personal Property and Vested Property Act.
The legislation requires entities, such as businesses, government, utility corporations, insurance companies and universities, to try locating rightful owners, and, if unsuccessful, to report the unclaimed property to the registry. Depending on the type, the property must be dormant for one to 15 years before it can be declared abandoned and eligible for transfer to the Unclaimed Property Registry.
Owners have 10 years to claim their property from the registry. After this time, the money goes to the government’s general revenue.
As per the news release, for the fiscal year 2019-20, about $840,000 was returned to 470 rightful owners and since 2008, the registry has returned more than $8 million to about 5,500 claimants. In 2019, $368,124 was paid in 2019 to a corporation for uncashed government and insurance cheques.
HOW TO SEARCH & CLAIM
- Visit MissingMoney.com to see if any unclaimed property is registered in your name. You can search for free, across multiple jurisdictions with unclaimed property programs.
- If unclaimed property appears under your name, follow the prompts to submit an online claim form and provide supporting documents such as proof of identity and ownership.
