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Does Idaho have your assets?

If it does, you better get in touch with state tax officials ASAP. On July 1, Idaho might be able to keep your cash!

Or your stocks, bonds, mutual funds, bank accounts, uncashed payroll checks, utility deposits, traveler's checks, contents from deposit boxes and other valuable items.

Those are they types of assets that the Idaho Tax Commission, which is the official overseer of the state's unclaimed property, says it collects every year.

Hand_holding_money_2 The Gem State began 2007 with more than $16 million in unclaimed money in its treasury. The assets end up under state control, say tax officials, because people didn't know they had them or just forgot about them.

Most states typically hang onto unclaimed property indefinitely, allowing owners to claim it when they finally discover the missing loot. And that's what Idaho used to do.

But in 1997, state law was changed regarding forgotten property. Now the Idaho treasury gets to keep assets that have been in the unclaimed coffer for 10 years or longer. That first decade deadline arrives on Sunday, meaning owners and their heirs will lose all rights to the unclaimed property as of that day.

So if you think you have some money or other valuables in Idaho, act fast!

You can search the state's online unclaimed property list or call tax officials at 334-7623 if you're in the Boise area or, if elsewhere in the state or nation, toll-free at (800) 972-7660, ext. 7623.

More money elsewhere: While Idaho has an imminent deadline for claiming overlooked assets, every state has its own unclaimed property stash. Last year, my sister-in-law got a nice little payout from the State of Texas on an old stock she didn't even realize she owned.

As in Idaho, the state tax office usually handles these assets. This Federation of Tax Administrator's clickable map will get you to your state's tax department Web site.

If you want outside help finding missing assets, try the National Association of Unclaimed Property Administrators Web site. The NAUPA is a nonprofit organization affiliated with the National Association of State Treasurers.


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