Unclaimed Bank Accounts in Vermont: Why They Happen and How to Claim Your Money

Unclaimed bank accounts in Vermont can include forgotten checking or savings accounts, CDs, money orders, and other funds that were left behind. Many people do not realize they have money sitting with the state until they actively look for it.

This guide explains how unclaimed bank accounts happen in Vermont, how to search for them, and how to file a claim through official state channels. It is for general information only. HowToGetAssistance.org is not a government office, does not hold any unclaimed funds, and cannot process claims. It simply explains typical steps so you know where to start.

What Are Unclaimed Bank Accounts in Vermont?

In Vermont, unclaimed bank accounts are typically bank or credit union accounts that have had no customer activity or contact for a certain period of time, often several years. After that period, state law usually requires financial institutions to turn those funds over to the state’s unclaimed property office.

Common examples include:

• Checking or savings accounts you stopped using
• Certificates of deposit (CDs) you never cashed in
• Money market accounts with no recent activity
• Cashier’s checks or money orders that were never deposited
• Safe deposit box contents (after long inactivity and a separate process)

The state’s unclaimed property office acts as a custodian of this money. The state generally does not take ownership of it; it simply holds it until the rightful owner or heir files a valid claim.

How Bank Accounts Become “Unclaimed” in Vermont

Unclaimed accounts usually start as normal accounts. They become “unclaimed” after extended inactivity and unsuccessful attempts to reach the owner.

Typical reasons accounts go unclaimed

People in Vermont commonly end up with unclaimed bank accounts because:

• They moved and never updated their address with the bank
• They changed banks and forgot about a small balance left behind
• A CD or account matured, and they forgot to withdraw the funds
• They stopped using an account but never officially closed it
• A joint account holder died, and the survivor did not realize the money was still there
• A person died, and their heirs did not know about the account
• Mail from the bank was returned as undeliverable, and no new contact was made

The “dormancy” period

Vermont law sets a dormancy period – a set number of years with no activity or clear contact from the owner. The exact number of years can vary depending on the type of property (for example, a regular bank account versus a cashier’s check).

Activity might include:

• Making a withdrawal or deposit
• Logging into online banking (in some cases)
• Contacting the bank in writing or by phone and confirming the account
• Updating your contact information with the institution

If there is no activity within the dormancy period, the bank labels the account as inactive or abandoned. After certain notices, the funds are turned over (or “escheated”) to Vermont’s unclaimed property office.

Who Handles Unclaimed Bank Accounts in Vermont?

Each state has a designated unclaimed property program, usually run by the state treasurer or a similar department.

In Vermont, unclaimed property is typically handled by the state treasurer’s unclaimed property division (or similar office under that department). This office:

• Receives unclaimed funds from banks, credit unions, and other holders
• Maintains a public database of unclaimed property
• Reviews claims from people who think they’re owed money
• Approves or denies claims based on documentation
• Issues payments to verified owners or heirs

HowToGetAssistance.org is not connected to this office. To actually claim your money, you must work with the official Vermont unclaimed property program through its official website, mailing address, or phone line.

Who Can Claim Unclaimed Bank Accounts in Vermont?

You may be able to claim unclaimed bank accounts in Vermont if you are:

• The original account holder whose name is on the account
• A joint account holder
• A legal heir (such as a spouse, child, or other relative) of someone who died
• A personal representative or executor of an estate
• An authorized representative of a business, trust, or organization that had the account

You typically need to show that:

1. The property listed in Vermont’s database matches your name, a former name, or a relative’s name.
2. You have a connection to the address or organization shown with the property.
3. You have legal authority to claim the funds (especially for estates, trusts, or businesses).

How to Check for Unclaimed Bank Accounts in Vermont

You can usually search for unclaimed property in Vermont for free through the state’s official unclaimed property search tool.

Step-by-step search process

1. Find Vermont’s official unclaimed property website.

   • Use a search engine and look for terms like:
     • “Vermont unclaimed property search”
     • “Vermont state treasurer unclaimed funds”
   • Check that the website belongs to an official Vermont government domain (for example, it often includes “.gov”).

2. Enter your information.

   • Search by:
     • Your full legal name (including middle initial if you use it)
     • Former names or nicknames (for example, maiden name)
     • Business name if you own or represent a company
   • Try multiple name variations, especially if your last name is common.

3. Review the search results.

   • Look for:
     • Your name or a relative’s name
     • A Vermont address you recognize: past or present
     • The holder name (such as a bank or credit union you used to work with)
   • If something looks familiar, click into the result for more details.

4. Select properties you want to claim.

   • Most state sites allow you to “add” potential matches to start a claim.
   • You may be able to claim more than one item at a time.

If you have trouble with the search tool, you can usually call the Vermont unclaimed property office using the phone number listed on the official state site and ask for help doing a search.

Documents You May Need to Claim Unclaimed Accounts

The exact documents depend on your situation and Vermont’s current rules, but here are common items the state may ask for:

Basic identity and address documents (most claimants)

• Government-issued photo ID

  • Driver’s license
  • State ID card
  • Passport

• Proof of your Social Security number, such as:

  • Social Security card
  • W-2 or 1099 form
  • Certain tax forms (with the full number visible, if requested)

• Proof of address or past address that matches the unclaimed property record, for example:

  • Utility bill
  • Bank statement
  • Lease agreement
  • Mortgage statement
  • Old paystub or tax document

Additional documents for special situations

• Name change (e.g., after marriage or divorce):

  • Marriage certificate
  • Divorce decree
  • Court order for legal name change

• Claiming on behalf of someone who has died:

  • Certified death certificate
  • Will, if available
  • Letters testamentary, letters of administration, or court appointment as executor or personal representative
  • Documents showing your relationship to the deceased (such as birth or marriage certificates)

• Claiming for a business, trust, or organization:

  • Proof of business registration or incorporation
  • Documentation that you are an authorized officer or representative
  • Tax ID number (EIN)
  • Trust documents naming you as trustee, if applicable

The Vermont unclaimed property office typically lists acceptable documents and options if you cannot find an older document. They may also accept notarized statements in certain situations.

Comparing Common Claim Situations in Vermont

Below is a simple comparison of what is often required in different claim cases. Requirements can change, so always verify with the official Vermont unclaimed property office.

*Exact requirements are determined by the Vermont unclaimed property office and may change.

How to File a Claim for Unclaimed Bank Accounts in Vermont

Once you have found unclaimed property listed under your name or someone you represent, you can usually start a claim through the state’s official system.

1. Start the claim online (if available)

Most states, including Vermont, provide an online claim process:

1. From the official Vermont unclaimed property site, select the properties that match you.
2. Click the option to start a claim.
3. Answer questions about your connection to the property (e.g., “Did you live at this address?”).
4. Provide your current mailing address and contact information.
5. Submit the online form to create a pending claim.

Depending on the property type and amount, the system may:

• Ask you to upload documents right away, or
• Give you instructions to print a claim form, sign it, and mail it with copies of your documents.

2. Complete any paper forms (if required)

For some claims, Vermont may require a signed paper claim form. In that case:

1. Print the form or request it by mail from the unclaimed property office.
2. Fill it out clearly and completely.
3. Attach copies of requested documents (never send original vital records unless the office specifically asks).
4. If the form or documents must be notarized, visit a notary public and bring a valid ID.
5. Mail the completed packet to the official Vermont unclaimed property mailing address listed on the form.

3. Submit supporting documents

Whether online or by mail, you will usually need to:

• Upload or mail clear, readable copies of your documents
• Make sure the name and address on your documents match what you entered in your claim
• Include any court or legal documents if you are filing as an executor, heir, trustee, or business representative

If something is missing or unclear, the office may contact you to request additional or corrected documentation.

What Happens After You File Your Claim?

After you submit your claim, Vermont’s unclaimed property office will:

1. Review your information to confirm your identity and your right to the funds.
2. Compare your documents with what was reported by the bank or credit union.
3. Contact you (by mail, email, or phone, depending on what you provided) if they need more information.

Typical timelines

Processing times vary by:

• Number of claims the office is handling
• Complexity of your claim (simple individual claim vs. large estate claim)
• How complete your documentation is

Many straightforward claims are processed within several weeks to a few months. More complex claims, especially involving estates or legal disputes, may take longer.

How you may receive payment

If your claim is approved, you typically receive:

• A check mailed to your address, or
• Another form of payment described in Vermont’s current policies

You usually do not receive access to the original bank account itself. Instead, the Vermont unclaimed property office issues payment for the amount reported (often including certain types of interest as allowed by law, but not always).

Common Reasons Vermont Claims Get Delayed or Denied

Claims can be delayed or denied if something does not match or if documentation is missing. Common issues include:

• Name mismatch: Your name has changed (for example, after marriage), and no proof of the change was included.
• Address mismatch: You cannot show any connection to the address associated with the property.
• Insufficient identity proof: ID is expired, unclear, or does not match the claim.
• Lack of legal authority: For estates or businesses, you do not provide court appointment papers or proof you are authorized to act.
• Missing documents: Items requested by the Vermont unclaimed property office are not submitted or are incomplete.
• Conflicting claims: More than one person claims the same property, and ownership is unclear.

If your claim is denied, Vermont’s unclaimed property office usually explains the reason in writing or in your online account, and may outline what you can do next.

Can You Appeal or Fix a Problem with Your Claim?

If you disagree with a decision or know something was missing:

1. Read the notice carefully. Note exactly what the office says is lacking or why the claim was denied.
2. Gather additional documentation. This might include more detailed proof of address, a newly obtained court order, or corrected forms.
3. Contact the Vermont unclaimed property office.
   • Use the phone number or mailing address listed on your decision notice or on the official website.
   • Ask what you can submit to resolve the issue.

Some states have a formal appeal process with specific steps and deadlines. If Vermont offers this, the instructions are usually posted on the official unclaimed property website or included in your denial letter.

If You Do Not Qualify to Claim the Money

Sometimes, you may find money listed under:

• Someone with the same or similar name, but it is not actually you
• A distant relative with no clear estate records
• A former business you were not legally connected to

If you cannot show a legal right to the funds, the Vermont unclaimed property office will likely deny the claim.

In that case, you can:

• Consider whether other family members or legal representatives may be better positioned to claim.
• Talk with an attorney if you believe you have a right to the funds but lack certain documents.
• Continue to monitor the database over time for any new property in your name.

How to Avoid Unclaimed Accounts in the Future

Preventing accounts from going unclaimed can save effort later. A few practical steps:

• Keep your contact information current with banks and credit unions, especially after moving.
• Use each account periodically, even if it is a small transaction.
• Maintain a list of all your financial accounts and update it when you open or close accounts.
• Talk with trusted family members about where your accounts are so they know what to look for if something happens to you.
• Include financial account information in your estate planning documents.

Watch Out for Unclaimed Money Scams

Because unclaimed property is a real program, scammers sometimes target people using fake messages or websites.

Here are ways to protect yourself:

• Be cautious of unsolicited calls or emails claiming you have unclaimed funds, especially if they demand payment or personal information right away.
• Do not pay large “finder’s fees” to get your own money. Some legitimate “heir finder” services exist, but the Vermont unclaimed property office allows you to claim your funds directly at no cost.
• Check the web address to confirm you are on an official Vermont government site. Government sites typically:
  • Use a “.gov” domain, and
  • Clearly list a state office name (such as the state treasurer).
• If in doubt, call the Vermont state treasurer’s office or unclaimed property program using a phone number you look up independently (for example, from a state government directory) and ask how to verify a letter or website.
• Never share your full Social Security number, bank account number, or ID details unless you are sure you are dealing with the official Vermont unclaimed property office through secure channels.

If you believe you may have an unclaimed bank account in Vermont, the next step is to use the official Vermont unclaimed property search and follow the claim instructions on that site. HowToGetAssistance.org cannot process claims or check the status of any funds, but the state’s unclaimed property office is there to help you through the official process.