The Great Colorado Payback reunites Coloradans with their lost or forgotten assets. The Colorado State Treasurer has a list of over 1.7 million names of individuals and businesses with property available for claiming.
The Colorado laws are found at CRS 38-13-101 known as the “Unclaimed Property Act“.
Examples of reportable accounts include:
Checking and Savings Accounts, Money Orders, Uncashed Insurance Checks
Payroll Wages, Safe Deposit Boxes
Utility Refunds, Security Deposits
Stocks and Bonds, Dividends, Mutual Funds, Oil and Gas Royalties
Money or property held by the State Treasury for safekeeping belongs to the owner or heir of the account. There are no time limits for filing your claim.
To find out if you or someone you know has money or property waiting to be claimed, search the Great Colorado Payback website. If you find money or property waiting for you, you will need to file a claim form and meet with a notary to get it notarized to properly prove your rightful ownership. Claims under $100 do not need a notary.
In addition to finding Great Colorado Payback property, Internet users can search nationwide for lost or forgotten property at MissingMoney.com.
Making a Claim
Unclaimed accounts typically become dormant and reportable to the State Treasury as unclaimed property after three to five years of no contact with the account owner. Colorado businesses with unclaimed property from customers are required under the Unclaimed Property Act to turn over those assets to the Colorado State Treasurer.
You can claim an account as an owner, co-owner, heir, or business owner. You will need to include your Social Security Number or business federal tax identification number.
The details and documentation required are listed at Making A Claim.
Here is a sample Great Colorado Payback Claim Form.
A “finder” may contact you offering to locate your lost or forgotten property for a finder’s fee. Before you sign a finder contract or pay a fee, check the Great Colorado Payback website for your name.
In Colorado, a contract to pay compensation to a finder in the recovery of unclaimed funds is not enforceable for the first 24 months after the date payment or delivery is made to the Treasury. Between 24 to 36 months, payment cannot exceed 20% of the property value. After 36 months, payment cannot exceed 30% of the property value.
Take a look at the Great Colorado Payback website to see if you have money waiting to claim.