2008 media releases
Welcome surprise for owners of forgotten money
30 January 2008
Twelve thousand people may get a welcome surprise following publication on Inland Revenue's website of a list of owners of $11 million of unclaimed money.
Most of the unclaimed money comes from deposits left in banks and other financial institutions, and includes insurance proceeds, cheques or wages. Under the Unclaimed Monies Act 1971, funds left untouched for more than six years are required to be paid to Inland Revenue.
"It's the responsibility of the institution holding the funds to make every effort to locate the proper owner of the money," said Acting Deputy Commissioner, Business Development and Systems, Heather Daly.
''But sometimes, with people moving around and changing jobs, this proves difficult, and the money is transferred to Inland Revenue if it remains untouched for six years."
Inland Revenue has records detailing more than 100,000 cases of unclaimed money totalling more than $40 million dating back to 1973. The online records are for the period 2005-2007.
Unclaimed money does not include tax refunds.
The online list of 12,000 names can be found at:
http://www.ird.govt.nz/unclaimed-money/unclaimed-money-0.html
Anyone who believes they may be entitled to unclaimed money, should email unclaimed.monies@ird.govt.nz or write to
Unclaimed Monies
Inland Revenue
P O Box 38222
Wellington Mail Centre
People who wish to claim the money must forward their name, address, IRD number, and proof of identity (such as a copy of a birth certificate, driver's licence or passport) to the Inland Revenue postal address above.
Ends
For further information:
Mac Dalton
Media Advisor
Inland Revenue
(04) 890 1743
(029) 890 1743
Other media releases this year
- Accountant sentenced for tax evasion
- Invercargill accountant jailed for tax evasion
- Dairy owner sentenced for hiding half a million
- Tauranga court jails man for tax evasion
- Most Working for Families recipients not charged interest for overpayments
- Former Kaikohe farm manager jailed for tax evasion
- Auckland plasterer jailed for tax evasion
- New callback service rolled out across Call Centre
- Former employee sentenced
- KiwiSaver report released
- Inland Revenue expands e-services
- Do-it-yourself tax refunds
- Employers reminded about new tax rates
- Former Inland Revenue employee pleads guilty to corruption
- Sentencing strong message for contractors
- Accountant jailed for defrauding clients and Inland Revenue
- Inland Revenue pilots callback system to help customers
- Inland Revenue proposes changes to company tax return
- Agricultural contractor sentenced
- Jail for horticultural student
- Tax fraud results in jail term
- Thousands apply for student loan amnesty
- Early Working for Families Tax Credits payments
- Inland Revenue wins People's Choice NetGuide web award for second time
- Waikato couple sentenced for tax evasion
- Inland Revenue warns about income diversion
- Report of investigation of an error in tax revenue numbers
- Tax credits for people made redundant
- R&D tax credit goes live
- Student Loan amnesty - last chance to apply
- Revised financial statements
- Tax advice for investors in failed finance companies
- Tax advice for property investors
- Provisional tax gets easier
- Early Working for Families Tax Credits payments
- IRD numbers about to get longer
- Tax authorities work together to stop international tax evasion
- Inland Revenue helps drought-affected farmers
- IRD numbers available at NZ Post and AA
- Inland Revenue warns against divulging personal details
- Second jail term for major tax scam
- End-of-year tax date fast approaching
- Time running out for student loan amnesty
Corporate Affairs
Inland Revenue
To make a media query:
Phone 04 890 1698 or email mediaqueries@ird.govt.nz
Please note, the email address is only for enquiries from the news media. It is monitored during normal business hours 8am - 5pm Monday to Friday.
P O Box 2198
Wellington 6140
New Zealand
Date published: 30 Jan 2008
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