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The Arkansas unclaimed property search by name is the first step to discovering if you have unclaimed money in Arkansas. The state's official process requires you to visit the Auditor of State's website and enter your details, but the system can be confusing and often misses funds due to outdated information or name variations. How to find unclaimed money in Arkansas isn't always straightforward-searches may require multiple attempts, and the claim process can feel daunting. Chimo's Arkansas unclaimed money search uses advanced technology to streamline the process, making it easy to find and claim unclaimed money in Arkansas without the headaches of the state's system.
Arkansas State Treasury Unclaimed Money
The Arkansas treasury unclaimed money program is managed by the Auditor of State, who is responsible for safeguarding missing money Arkansas residents may have forgotten about. The treasury holds a variety of assets, including dormant bank accounts, uncashed checks, insurance proceeds, stocks, and safe deposit box contents. Under Arkansas Code § 18-28-201 et seq., the treasury is required to hold these assets until rightful owners or heirs come forward. Despite these efforts, large sums remain unclaimed, highlighting the need for better solutions.
Top 5 Types of Assets Held by the Arkansas Treasury:
Asset Type
Description
Bank Accounts
Savings & checking accounts
Uncashed Checks
Payroll, refunds, dividends
Insurance Proceeds
Life & property insurance payouts
Securities
Stocks, bonds, mutual funds
Safe Deposit Contents
Jewelry, documents, valuables
Bank Accounts
Description
Savings & checking accounts
Uncashed Checks
Description
Payroll, refunds, dividends
Insurance Proceeds
Description
Life & property insurance payouts
Securities
Description
Stocks, bonds, mutual funds
Safe Deposit Contents
Description
Jewelry, documents, valuables
Arkansas Unclaimed Property Laws & Regulations
Arkansas's unclaimed property program is governed by Arkansas Code § 18-28-201 et seq. The Arkansas unclaimed property retention period, or dormancy period, is typically three years for most account types, after which assets are escheated-transferred to state custody. Some property types, like payroll checks, may have shorter dormancy periods. Arkansas holds unclaimed property in perpetuity, so owners or heirs can reclaim funds at any time. The state does not pay interest on held property, and after the retention period, the property remains with the state until claimed.
Property Type
Dormancy Period
Reclaimable
Bank Accounts
3 year
Payroll Checks
1 year
Securities
3 year
Insurance Proceeds
3 year
Safe Deposit Boxes
3 year
Bank Accounts
Dormancy Period
3 year
Reclaimable
Payroll Checks
Dormancy Period
1 year
Reclaimable
Securities
Dormancy Period
3 year
Reclaimable
Insurance Proceeds
Dormancy Period
3 year
Reclaimable
Safe Deposit Boxes
Dormancy Period
3 year
Reclaimable
Arkansas State Controller Unclaimed Property
The Arkansas state controller unclaimed property program is administered by the Auditor of State, who receives assets from businesses and financial institutions unable to locate owners. The Arkansas department of revenue unclaimed property is transferred to the Auditor's office after the dormancy period. Many people miss out on their funds due to outdated contact information, misspelled names, or lack of notification. The State Controller is responsible for maintaining accurate records and making reasonable efforts to contact owners, but millions remain unclaimed due to these communication gaps.
Unclaimed Property Taxes in Arkansas
When it comes to Arkansas tax on unclaimed property, most recovered funds are not considered taxable income since they are simply the return of your own assets. However, if the property has earned interest or generated income while in state custody, that portion may be taxable. Is unclaimed property taxable in Arkansas? Generally, only the interest or earnings are subject to tax, not the principal. Do I have to pay taxes on unclaimed property in Arkansas? You may need to report interest or investment gains on your state or federal tax returns, so consult a tax professional for your specific situation.
How to Claim Unclaimed Property in Arkansas
The Arkansas unclaimed property claim process simplifies with Chimo:
1. Search
Instantly find matches in Chimo's database.
2. Claim
Provide proof of ownership (e.g., old utility bills).
3. Receive
Most claims process within 6-8 weeks.
Skip the state's paperwork backlog and manual reviews.
Start Your Arkansas Unclaimed Property Search
Don't let your money sit unclaimed. It's free to check your eligibility, and you could discover forgotten funds waiting for you. Take action today and see what you might recover.