Texas Unclaimed Property

For Businesses

Businesses in Texas must report unclaimed property that has been inactive for three years. This includes uncashed checks, abandoned accounts, and unclaimed wages. Businesses must also attempt to notify owners before reporting the property as unclaimed.

Companies are required to conduct due diligence to locate the owners of unclaimed property. This typically involves sending written notices to the last known address of the owner.

Businesses must submit an unclaimed property report by July 1 each year, detailing all unclaimed property held. The report must include the names and last known addresses of the owners.

Non-compliance with Texas unclaimed property laws can result in penalties and fines. The Texas Comptroller’s Office may conduct audits and require documentation related to unclaimed property.

Organizations can file a claim for unclaimed property by submitting a request to the Comptroller’s Office (see link below).

Businesses also do not have a time limit for claiming unclaimed property, but must comply with reporting and due diligence requirements to avoid penalties.

For Individuals

In Texas, unclaimed property refers to financial assets that have remained unclaimed for a specified period, typically three years. This includes dormant bank accounts, uncashed checks, insurance proceeds, and other financial assets.

Financial institutions and other entities must report unclaimed property to the Texas Comptroller of Public Accounts annually. They are required to make efforts to locate the owners before reporting the property as unclaimed.

Individuals can search for unclaimed property through the Texas Comptroller’s website. If they find property that belongs to them, they can file a claim online by providing proof of identity and ownership, which may include identification, account statements, or other relevant documentation.

Once a claim is submitted, the Texas Comptroller’s Office will review it and may request additional documentation. Claims are generally processed within 90 days, although some may take longer depending on the details of the claim.

Individuals can claim their unclaimed property at any time; there is no expiration date, and the property remains available until claimed.

Why Use Asset Reunite Partners?

We provide a hassle-free alternative to searching & filing claims independently and maximize your chances of claims approval. Our company is well-respected in the industry and has established strong connections with unclaimed property administrators, attorneys, and other key professionals.

Extensive & Ongoing Search

Our team is able to uncover assets from overlooked and often unknown sources by leveraging cutting-edge research tools, extensive agency partnerships, and our proprietary database. We provide isolated searches as well as ongoing audit coverage for individuals and institutions on the receiving end of unclaimed assets.

High Success Rate

Don't risk delays and legal expenses in claims that get rejected. Our team knows the in's and out's to get your money promptly without need for all the back and forth paperwork and associated costs.

Instant Payment

Our streamlined method ensures an accelerated claims process that delivers significant recoveries. However in certain cases/jurisdictions, there may be lag on the part of the government. Depending on the claim, you may have the opportunity to participate in our claims purchase program, where we buy the right to a claim in return for upfront cash.

At Asset Reunite Partners, our dedicated team works around the clock to promptly resolve problems and answer questions.

Dedicated Support

Let us help you simplify your asset recovery process.

Reach out for expert asset recovery assistance today.