Review of Agency Unclaimed Money AccountsĪnalyze their uninvested trust, revolving, and deposit fund accounts to determine whether they are holding unclaimed moneys that a depositor may receive as a refund, These collections represent receipts that are not properly chargeable to any other appropriation. Unclaimed moneys are moneys held for rightful owners whose whereabouts are unknown.Īgencies must use account 20X1807, "Refund of Moneys Erroneously Received and Covered (Indefinite)" for expenditures made for collections or other receipts erroneously deposited into Treasury. Responsibility of Agencies to Dispose of Unclaimed MoneysĪgencies must initiate action to clear unclaimed moneys held in their uninvested trust, revolving, and deposit fund accounts for more than one year. § 1322 contains additional procedures of authority for non-trust fund related unclaimed moneys and other collections erroneously deposited that are not properly chargeable to another appropriation. Subsequent claims to the transferred funds shall be paid from the account "Unclaimed Moneys of Individuals Whose Whereabouts are Unknown."ģ1 U.S.C. § 1321 (a)(1)-(82) that has been in the fund for more than one year and represents money belonging to individuals whose whereabouts are unknown. § 1321 (a)(1)-(82) or an analogous trust fund established under 31 U.S.C.
§ 1322, "Payments of unclaimed trust fund amounts and refund of amounts erroneously deposited," each year on September 30, the Secretary of the Treasury will transfer to the Treasury trust fund receipt account "Unclaimed Moneys of Individuals Whose Whereabouts are Unknown" that part of the trust fund account balance named in 31 U.S.C. AuthorityĪccording to the provisions of 31 U.S.C. This section also prescribes procedures for making refunds of collections or other receipts erroneously received and covered into the Treasury. The unclaimed moneys provisions of this section do not apply to funds held in trust for individual Indians, associations of individual Indians, or for certain Indian corporations. This section prescribes procedures that apply to all departments and agencies of the federal government that handle unclaimed moneys belonging to individuals, businesses, or other entities. Payments of Unclaimed Moneys and Refund of Moneys Erroneously Received and Covered Overview Scope & Applicability
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