Posts Tagged ‘Massachusetts unclaimed funds’

The now defunct New Kids On The Block, superstar chefs Ming Tsai and Todd English, even star slugger for the Boston Red Sox Nomar Garciaparra are on the State of Massachussetts unclaimed property list. This means the State owes them MA unclaimed money from financial assets they’ve lost track of over the years. Isn’t it kind of odd that the government can’t track these people down to reunite them with their MA unclaimed funds?

The National Unclaimed Property Law requires businesses and institutions like IRS to turn over state unclaimed property from bank accounts, tax rebate checks, stocks, insurance benefits, etc. to the State Treasury if they’ve been inactive for a 3-5 years. The State has the responsibility of safekeeping and locating owners of unclaimed money using the last known address of owners. Massachusetts keeps unclaimed money belonging to MA unclaimed property owners they can’t find, but how does this explain NKOTB, a famous Red Sox star, and celebrity chefs being owed MA unclaimed funds? It’s not as if these people are difficult to locate like the average Joe.

Think about it, if members of a famous boyband and an award-winning Chinese-American chef can be owed Massachusetts unclaimed money from Metlife stocks ($800 worth) and $921 in cash (respectively), what more a regular resident of Massachusetts? Even an eatery which can be easily located (Legal Seafoods Seafoods) is owed a whopping $5,103 unclaimed cash!

Roughly 40,000 names are on the State’s recent list of MA unclaimed property owners and they’re owed a total of $13 million according to a Boston Herald report on MA unclaimed money. That doesn’t even include previous unclaimed property owners still in the state’s database! Even retired state officials have $14 million unclaimed retirement benefits owed them, says NBC’s Channel 7 News based in Boston. You can be one of the scores of Americans missing money and not even know it. Do an unclaimed money search now and get crucial cash in your pockets! In times like these, it wouldn’t hurt.