Find Unclaimed Money in Australia

Those interested to find unclaimed money in Australia can receive funds they are entitled to get within five days after approval, Australia’s Office of State Revenue (OSR) announced. Unclaimed money can be transferred via an electronic transfer or sent by check, according to OSR.

Find Unclaimed Money Australia

OSR deals with unclaimed money whose origin is as follows: bonds, commissions, convertible notes, dividends, expenses, and principal and interest. In addition, OSR holds unclaimed money that originated from deposits, premiums, proceeds of sale, royalties, refunds and over-payments, trust account funds as well as superannuation benefits.

Australian Securities Investment Commission (ASIC) is also authorized to hold unclaimed money, including money from banks, credit unions, building societies, life insurance companies and friendly societies.
The Australian Tax Office (ATO) and other State Governments are other holders of unclaimed money in Australia. ATO is authorized to hold unclaimed superannuation money from Superannuation Funds and Retirement Saving Accounts. However, New South Wales Public Sector unclaimed money are not transferred to ATO accounts.

Australia’s legislation stipulates that employers, government agencies, local councils, State Trustees, etc., are required to deposit unclaimed money with the OSR after the have failed to locate money owners and return the funds to them. Hopefully this information will help you find unclaimed money in Australia.

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