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Free New Mexico Unclaimed Money Lookup
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Learn the basics of finding and claiming all types of unclaimed property in our guide to unclaimed money in New Mexico.
The Land of Enchantment has millions of dollars in unclaimed funds and assets that it holds for them. No matter how careful you are, mistakes can always happen. You might forget to update your home address after moving or change the phone number linked to your bank account. Those small mistakes can result in you losing the money that belongs to you and only finding it years later in the state’s database. As long as you have access to the internet, you can find abandoned property in your name in New Mexico.
New Mexico allows the Taxation & Revenue Department to handle its unclaimed property. The department offers help for those who want to search for unclaimed property and claim it as well as the holders who report it. Under New Mexico law, holders can include both individuals and organizations such as banks and utility companies. The holders must follow the state’s laws to turn over abandoned property. In our ultimate guide to unclaimed money in New Mexico for 2021, you’ll find updated steps and information on getting your money from the state.
The National Association of Unclaimed Property Administrators (NAUPA) lists unclaimed property as any type of asset in which the owner makes no attempt to claim for one year or longer. Many states require that the holders hold the property for up to five years before it will take it over. New Mexico has laws that require the holder to make multiple attempts to locate or contact the owner and give them time to respond. Some holders will also attempt to find the owner’s heirs if they pass away.
An annuity is one example of the unclaimed property found in New Mexico. This is a contract in which one person receives a set payment every year. You might get money from a trust that a loved one set up or for an accident that someone else caused.
When the person named on the annuity passes away, the funds may go to a designated person called a beneficiary. The beneficiary has the legal right to claim the annuity and receive the payments.
A beneficiary can also relate to a life insurance policy. Let’s say that your father had a primary life insurance policy that named your mother as the beneficiary. If she passes away before claiming the money, it then passes to her heirs. You may also find out that your parent had several smaller policies that they bought from other companies. As long as you are the named beneficiary, the insurer must send you the total payment. In cases where the insurer cannot find the beneficiary, they will eventually contact the NM Taxation & Revenue Department for help.
You can check for security deposits online, too. Many companies charge deposits to cover the services that they offer. Even if you have the same energy provider, they may require a new deposit when you move. Landlords also charge deposits when tenants move in and must legally return those deposits minus any listed deductions. New Mexico helps you find security deposits that you didn’t get back and claim them online. Many people find money associated with their old apartments that they never knew they got back after they moved.
Other examples of the unclaimed property found in New Mexico include bank accounts. When you open a savings account, you can save money towards a new car or home. You have the chance to transfer money to that account and use a different bank than the one that holds your checking account. A checking account gives you easy access to your money and helps you pay your monthly bills. Most of the banks in New Mexico will keep your account open for at least two years before turning it over to the taxation department. The department will hold the money in the account on the behalf of the owner for decades.
Though the NM Taxation & Revenue Department offers help for those looking for abandoned property, it does not have a database that you can search. New Mexico is one of several states that use Missing Money.
Step 1: Visit Missing Money to find your property. Click on the “Search” option from the buttons listed across the top of the screen.
Step 2: Choose New Mexico from the states listed in the drop-down menu, which also allows you to search in different states. The site requires that you add a name before you search and allows you to enter a city.
Step 3: Find any of the property that belongs to you through the search results. The Missing Money website shows the last known address and full name if available of the owner. You will also see the name of the holder who held the money and whether the asset is worth more or less than $100.
Step 4: Hover your mouse over the “Claim” button to see the type of property. You may find that the property is a court deposit or a utility refund. Click on this button to show that you have a right to the asset.
Step 5: Look for the new button that appears on the top of the page, which shows a shopping cart. Click on this button to claim your property and start the process.
Step 1: Use the Relationship drop-down menu to show that you are the property owner or filing for another reason. Missing Money allows you to claim the property as an executor, heir or corporate officer.
Step 2: Fill out all the boxes with a red star listed next to them. You need your email address, full home address and phone number before clicking on the “Continue” button.
Step 3: View the claim form to verify that the information you shared is correct. The site will send this information to New Mexico to process your claim.
Step 4: Complete the paperwork that the NM Taxation & Revenue Department sends to you. You’ll also need to provide more information and documents before you will get your money.
After finding your property, Missing Money lets you send an initial claim to the NM Taxation & Revenue Department. This department will send you a copy of the form along with instructions that detail everything else that you need. You may need a notarized claim form. This requires that you sign and date the form in front of a notary public and that the notary verifies your identity before stamping the form. You also need to submit copies of both your social security number and a government ID such as your state ID or driver’s license. If you no longer live at the same address, the department asks for evidence that you lived there at one point.
Recent data suggests that New Mexico has more than $150 million in funds and assets. Even if you moved from the Enchantment State, it’s still worth looking online to see if the state has some funds for you. It takes less than 10 minutes to search with Missing Money, which includes the time that it takes to fill out your form. When you use this site and our other top resources, you may find quite a bit of money.
You can find unclaimed property in New Mexico and other states with resources that are easy to use on the web. For treasury bonds, we recommend the U.S. Federal Investments website. Treasury bonds are available for children of all ages, but parents and other loved ones often buy them for babies. They know that the bonds will mature as the child ages and reach their full value when they finish high school. You can see if children claimed the bonds that you bought and how you can claim your bonds through this site.
Though you might turn to Department of Housing and Urban Development (HUD) when you have problems paying your mortgage, you may not realize that HUD occasionally offers refunds for those who worked with the department. If you get a letter in the mail claiming that you have a refund available, always check with HUD to make sure it’s not a scam. When HUD has a refund check, it will let you fill out an online form and claim it.
The Department of Veterans Affairs is a helpful resource for anyone who served in the military along with their families. Vets can get help obtaining business and home loans through the VA and with getting medical coverage. They can also purchase life insurance policies that payout when they pass away. You can use the VA to find out if your loved one has a policy and who can claim the proceeds.
Losing a loved one is always hard, especially if you need to come up with the money to cover their burial costs and other expenses. One place to look for help is the Pension Benefit Guaranty Corporation, which keeps track of all pensions opened in the United States. If the deceased did not list a beneficiary on their pension, you may still have the right to claim the pension as their heir. The U.S. Railroad Retirement Board offers similar assistance for those looking for pensions opened by those employed by any railroad company.
You can also check with the Federal Deposit Insurance Corporation if you need to locate money that you had in a closed bank account. Many banks closed across the country over the years, but the FDIC keeps track of the money they held. Turn to the National Credit Union Administration if you need help getting money bank from a closed credit union.
We recommend checking with the Internal Revenue Service (IRS) for missing money, too. Even if you keep track of your tax payments and refunds, you might miss a refund check. The IRS offers help for claiming your refund and either getting a check in the mail or having it deposited in your bank account. You can use the IRS to see when a future refund check will arrive also.
New Mexico has laws that date back to 1978 that relate to unclaimed property. You can check out the laws online to learn more. One of the nice things about using the government website is that it allows you to do a quick search. You simply enter the keyword or term that you want to look for and hit search to find all instances of it in the code.
As New Mexico uses the Missing Money system, it takes a little longer to process claims than other states do. Once you find your property online and fill out your information, the site sends the claim to the NM Taxation & Revenue Department. The department will then decide if you have a valid claim or if you need to submit any more information. State law requires that the department make a decision within 90 days of getting your claim and that it send you the money within 30 days of approving it. If you need notarized documents or other forms, the process may take longer and eventually lead to the department sending your claim back into the system.
There are two reasons why New Mexico may not process your claim by the required deadline. The first is that it asked for more information that you didn’t provide in time. This can include a copy of your driver’s license or your birth certificate. The second reason is that the department needs to send your claim to another division for more information. In either case, your property will go back into the Missing Money database, which can take several days to a few weeks. You will then need to find it and file a new claim.
A common question that we get is what happens when your address changes after losing your address. You might move away after finishing school or marrying your spouse. New Mexico gives you the option to file no matter where you live but requires proof of your current address and evidence of where you now live. If your address changed, you can submit any type of document that shows the old address that matches the asset. This includes old copies of your car registration, school transcripts, insurance policy or court documents. The state will occasionally accept a notarized document that lists you as the owner of the property, too.
Chapter 7 of the NM Uniform Unclaimed Property Act states that holders must sign rental or lease contracts with those who open safe deposit boxes. The contracts must lay out the payments that the owner makes and when those payments are due. Holders must keep the contents of the box safe for a minimum of five years after their last contact with the owner or their last payment. The holder can then inform the NM Taxation & Revenue Department about the abandoned box.
New Mexico holds an auction every year around the end of July in which it sells all the valuable items found in boxes turned over in the last year. They advertise the auction ahead of time to help heirs and others claim their missing property. Though the state stopped holding auctions in response to the COVID pandemic, it plans to move forward with these auctions in the future. If you find an abandoned box that belonged to you or a close relative, you can inform the department that you are the owner of the box. In most cases, New Mexico will return the contents to you as long as you can prove ownership and any fees required of the holder. For boxes that are already sold at auction, the state will establish a trust in the name of the owner that includes the proceeds from the sale.
New Mexico requires that employers and utilities turn over paychecks and refund checks after one year of no contact with the owner. Both checking and savings accounts become abandoned after five years. New Mexico considers gift certificates abandoned after three years. Some other types of assets give owners three years to respond before they become abandoned.
As the child or another close living relative, New Mexico lets you file an heir form. You need copies of both your photo ID and the deceased’s photo ID. If the deceased no longer has a photo ID, you can provide the official death certificate or a copy of the death certificate. You also need records or documents that show the deceased’s former address, including their utility bills, bank records, official paperwork or vehicle registration. New Mexico requires proof of the relationship that you shared such as your marriage or birth certificate. You can file as an heir in NM if you did not open probate for the deceased’s estate or if the estate already closed.
New Mexico encourages residents to make a list of all of their assets and both tell their families about the list and keep a copy in a safe place. This list should include any retirement or pension accounts that you have along with a copy of your deed or mortgage and your account numbers and passwords. You’ll want to use this list to contact your account holders if any of your personal information changes such as taking your spouse’s name after getting married or moving homes. You should also update your contact information when you change jobs. Millions of dollars held by the state belong to workers who never picked up their final paychecks.
Though we showed you how easily you can find unclaimed property in New Mexico, you may decide to work with a locator. A locator does all the legwork, including finding claims online and getting information to file for you. You only need to provide some general information and agree to pay the fees that they charge. New Mexico requires that the locator sign RPD-41343 and file it along with a contract signed by the owner. Locators only have four years to file claims for others once the property goes to the state. For claims that are older than 48 months, the state only allows owners and their heirs or legal representatives to file claims.
Do you find yourself wishing that you had money to pay for a trip with your family or something special? Though you may not find thousands of dollars held by the NM Taxation & Revenue Department, you may find a few assets that are each worth $50 or more. New Mexico partnered with the Missing Money website to cut down on the time the department’s workers spend looking over claims and processing them. You can use this site to find your money and send a claim form to the state in minutes. Make sure that you check out some of our other guides after finding your unclaimed property in the Enchantment State.
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