Have You Checked for Unclaimed Money in Massachusetts?
You’d be surprised how often money goes missing — old vendor checks, forgotten client refunds, even random overpayments. If it’s been sitting in your books for years, there’s a good chance it’s what the state calls unclaimed property — and there’s an easy way to take care of it.
So, What Is Unclaimed Property?
Think of it as money that’s slipped through the cracks:
- A check that was never cashed
- A refund or payment that never got delivered
- An account that’s just… sitting there
In Massachusetts, businesses are required by law to take a look at their records every year and report any of this forgotten money.
Meet FindMassMoney.gov
FindMassMoney.gov is the official site where you can both search for and report unclaimed funds. It’s run by the state and gets updated twice a year.
Whether you’re a business owner doing your due diligence or just curious if the state owes you something — this is the place to check.
If You’re a Business, Here’s What You Need to Know
What Should I Be Reporting?
- Quick answer: Any uncashed check that’s more than 3 years old.
- Longer answer: Any money owed that hasn’t been claimed — even if you tried to deliver it and it didn’t go through.
How Do I Report It?
It’s not too bad — here’s the rundown:
- Go to FindMassMoney.gov and follow their step-by-step guide.
- Once you enter the report, you’ll send the funds to the state. This clears it off your books (win!).
- Print the summary report and attach it to your original transaction — or send it to your bookkeeper if you have one (we love helping with this).
- Still unsure? You can call the state directly at 888-344-MASS (6277).
They even have a detailed reporting guide if you want to get into the nitty gritty.
Final Thought
Keeping your records tidy isn’t just good practice — in this case, it’s the law. Plus, it feels good to make sure money isn’t lost in the shuffle. Whether you’re sorting through old transactions or just doing your yearly cleanup, reporting unclaimed funds is easier than you think.
Need help figuring it out? We’re always here to support your business behind the scenes.
Visit us anytime at YourQBGuru.com.
Check out our infographic for quick reference.
