Arizona looking for military personnel owed $2.3 million in unclaimed funds
By CARMEN DUARTE | The (Tucson) Arizona Daily Star | Published: November 13, 2019
(Tribune News Service) — More than 8,800 military personnel who were once stationed in Arizona have unclaimed money waiting for them, the state’s Department of Revenue says. The funds total $2.3 million.
The money includes funds dating back over 30 years. And the largest sum for one person is $86,034, according to a state Department of Revenue news release Tuesday.
Authorities are in search of the armed forces personnel who have unclaimed funds in their names from when they were based in Arizona, states the release.
The last known addresses were from Davis-Monthan Air Force Base, Luke Air Force Base, Fort Huachuca, Yuma Proving Ground, Camp Navajo Army facility, and the Marine Corps Air Station Yuma.
The Arizona Department of Revenue is “currently sending notices to the military member’s last known Arizona base or most current address with the hope the property owner or family member will contact ADOR Unclaimed Property.”
These funds generally consist of money due to a person from old bank accounts, uncashed payroll checks, tax refunds, credit balances, rebates, returned deposits and dormant safe deposit boxes, officials say.
Authorities say property often “becomes unclaimed because the company that holds the funds has an outdated or the wrong forwarding address for its customer and, in some cases, a person passes away with no family members aware of the assets.”
“Most accounts are turned over to the state after several years of inactivity,” states the release.
The Department of Revenue will return the property to those who provide documentation showing their right to claim the assets. In addition to a claim form, a person must show a valid photo ID, such as a driver’s license, and documentation linking them to the owner’s last known address.
Authorities say those claiming the funds must provide proof demonstrating a legal right to claim any property listed in another name.
The state program returns millions of dollars every year to claimants, and in the past three fiscal years, about $170 million has been returned to individuals and businesses.
For information about the program, go to www.azdor.gov and click on the Unclaimed Property tab.