The amount and variety of unclaimed property in the state of Washington is larger than one would think. Sometimes it happens when people move and forget to reclaim their utility deposits or over-payments; other times, people may die and leave some money squirreled away in separate checking or savings accounts. Laws regarding unclaimed property in WA also mean that business owners have legal obligations if they come into possession of unclaimed property.
The list of unclaimed property in WA includes, but is not limited to, stocks, checking/savings accounts, death benefits, vendor checks, over-payments, certificates of deposit, paid-in-full life insurance, uncashed checks, unpaid wages, money orders, credit balances, refunds, dividends, commissions, insurance payments, gift certificates and customer deposits.
1. Know the laws regarding unclaimed property, Washington, and how they impact you as a business owner.
2. Search unclaimed property, state of Washington, to see if you have forgotten some assets.
3. Find unclaimed property in Washington state auctions.
Action Steps
The best contacts and resources to help you get it done
Know your obligations regarding WA unclaimed property
As a business owner, you're typically required to report and remit unclaimed property in Washington. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are.
I recommend: The
Washington State Department of Revenue has information on reporting unclaimed property. For an outside source on reporting requirements, try the
Business Owner's Toolkit.
Search Washington unclaimed property to ensure that your business hasn't left some assets behind
It may be a long shot, but why not perform a Washington unclaimed property search to make sure your business doesn't have some Washington unclaimed properties? This makes even more sense if your business has been around for a long time or it has a long string of former owners. You might be pleasantly surprised to find that one of the former owners neglected to retrieve some WA unclaimed property or even some unclaimed land in Washington that still belongs to your business.
I recommend: Search for unclaimed property at the
Washington State Department of Revenue. You can also try
CashUnclaimed.com.
Find abandoned property in WA at auctions or stores
State and local governments, as well as police agencies, sometimes dispose of unclaimed properties in Washington through auctions or stores. If you like auctions or discount shopping, it can be a good way to save your business some money.
I recommend: The
Washington State Department of General Administration arranges for periodic auctions to dispose of unclaimed property in Washington state.
PropertyRoom.com auctions unclaimed and seized property from police forces in Washington and elsewhere.
Tips & Tactics
Helpful advice for making the most of this Guide
- Be wary if approached by someone who wants money in exchange for the location of state of Washington unclaimed property; you can get the same information on your own for free.
The official source of Unclaimed Property in Washington is
the Unclaimed Property in Washington page at Business.com
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