Unclaimed money lodgments

Where a company is holding money, which have become unclaimed money under the Unclaimed Money Act 1950 it shall, on or before 31 January next, enter particulars of those unclaimed money into an alphabetical register.

Make a claim using the online claim Smart Form:

The company shall permit any person to inspect the register at its principal office during its normal hours of business.

The register should include:

• the full name and last known address of the owner on the books;
• the total amount owing to the owner;
• a description of the unclaimed money; and
• the date of the last claim for the money.

Notices

No later than 31 March in the next year, the company must publish a notice in a newspaper circulating in the ACT. The notice must state that the company holds unclaimed amounts for the previous year and explain how people can find out details of the amounts in order to claim them.

Lodgement

All money remaining unclaimed after one year from the date of publication of the notice must be paid to the Public Trustee and Guardian within one month after the end of the year. The company is then relieved from further liability in respect to the money.

For further detail refer to the Unclaimed Money Act 1950 Declaration