What is Unclaimed Money in Louisiana?
According to Louisiana law, unclaimed money is any money that has been left behind by its owner and remains inactive for a period of time or in which the holder and owner has had no communications. The statutes that govern unclaimed money in Louisiana are outlined in the Louisiana Revised Statutes, Section 9:151.
These statutes state that any money that is considered unclaimed must be turned over to the Louisiana state treasurer. The treasurer is then responsible for holding onto the funds until they are claimed by the rightful owner.
The types of unclaimed money that may be turned over to the state treasurer include uncashed paychecks, undelivered utility refunds, and even unclaimed life insurance benefits.
In Louisiana the escheatment process begins after between three to five years of inactivity on the part of the owner. After this period of time, the state treasurer will attempt to locate the owner of the unclaimed money and notify them that they have funds waiting for them. If the attempts are unsuccessful, the property remains in the possession of the state treasurer.
How to Find Unclaimed Money in Louisiana
Interested members of the public can search for their unclaimed money through the Louisiana Department of Treasury's website. The website includes a searchable database where visitors can input their personal information to see if they have any unclaimed money waiting for them.
Persons who believe that they have unclaimed property in Louisiana can fill out a claim form on the Louisiana Department of Treasury's website. Once the claim form is processed, the requestor will receive a check in the mail for the amount of money that is owed to them.
For in-person, mail, or email requests, the claimant may query the Louisiana state treasurer's office at:
Louisiana State Capitol Building
900 North Third Street, Third Floor
Baton Rouge, LA 70802
P.O. Box 44154 Baton Rouge
Treasury Main Line: (225) 342-0010
How Do I Find Louisiana Unclaimed Money for Free?
Louisiana’s official unclaimed money database – Find Your Unclaimed Property – can be accessed for free. Claimants are only required to provide the information needed to facilitate a property search as well as the supporting document to prove their ownership of said unclaimed funds or property in order to have the unclaimed money turned over to them.
Louisiana 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 Louisiana
Upon finding unclaimed property using the Find Your Unclaimed Money database, interested and eligible persons may Initiate a Claim in the following steps:
Review the Claimed Property:
After selecting the unclaimed property or properties, users will be required to confirm their selection and then specify the nature of their ‘Relationship to Owner’ for each property being claimed. Claimants who are the actual owner of the property may select ‘owner’. However, others will be required to indicate whether they are a direct heir, representative or relative depending on the applicable situation.
Enter Personal Information and Address:
Subsequently, users will be required to provide their personal information as well as a verifiable mailing address. They will then be required to verify the address following the onscreen prompt.
Submit the Claim:
After verifying the information provided for accuracy and completeness, claimants can submit the claim. A claim ID will be automatically generated and provided to the claimant to be used for tracking the status of the claim.
The following documents are typically required for a claim to be processed.
- Signed, and notarized claim form
- Government issued photo identification
- Proof of mailing address
- Proof of connection to the property being claimed
The documentation should be mailed to:
P.O. Box 91010
Baton Rouge,
LA 70821-9010
How Long Does It Take to Get Unclaimed Money in Louisiana?
The length of time it takes to get unclaimed money in Louisiana varies depending on the type of unclaimed property involved. For example, if the unclaimed property is in the form of a refund from a utility company, it may take several weeks to receive the money. If the unclaimed property is in the form of a bank account that has been inactive for a certain period of time, it may take longer to receive the money.
It may also be impacted by the specific process that the holder of the unclaimed property has in place for handling such claims. Therefore, it is important to contact the holder of the unclaimed property to find out how long it will take to receive the money.
In general, however, claimants should expect to receive their unclaimed money within a few months from the time they file their claim.
Who Can Claim Unclaimed Money From Deceased Relatives in Louisiana?
In the state of Louisiana, the following individuals are typically eligible to claim unclaimed money from deceased relatives:
- The surviving spouse of the deceased
- The adult child or children of the deceased
- The parents of the deceased
- The siblings of the deceased
In order to claim the money, these individuals will need to provide proof of their relationship to the deceased, as well as any other required documentation. The specific requirements will vary depending on the amount of money being claimed and the particular circumstances surrounding the death.
What Happens to Louisiana Unclaimed Money if No One Claims It?
Unclaimed money in Louisiana is turned over to the state's unclaimed property office. The money is then held in a trust fund until it is claimed by the rightful owner. If the money is not claimed, it is held by the custodian indefinitely.
