Unclaimed money Arkansas residents are owed often sits in dormant accounts until the state intervenes to protect it. The Arkansas Auditor of State manages a program known as the "Great Arkansas Treasure Hunt," designed to reunite citizens with lost financial assets. Whether it is a forgotten utility deposit, an old savings account, or mineral rights, the state holds these funds in perpetuity until the rightful owner is found.

Key Takeaways

• Official Source: The Great Arkansas Treasure Hunt is the only official, free service to claim your property.
• New Automation: Under Act 114, checks for amounts between $50 and $5,000 may now be mailed automatically to verified owners.
• Heirship Claims: Specific affidavits are available for small estates to avoid costly probate court fees.
• It’s Free: You never need to pay a fee to search for or claim your own property through the state portal.
• Verification: Valid government ID and proof of Social Security Number are standard requirements for manual claims.

What Qualifies as Unclaimed Property?

Unclaimed property generally refers to intangible financial assets. These are accounts or funds that have had no activity or contact from the owner for a specific period, known as the "dormancy period." When this period expires, the business holding the money (the "Holder") must report it to the state.

Common types of unclaimed property include:

• Financial Accounts: Savings and checking accounts, CDs, and credit union shares.
• Insurance: Unpaid life insurance policies, annuities, and refunds.
• Utilities: Unreturned security deposits for water, gas, or electricity services.
• Mineral Proceeds: Royalties and lease bonuses from oil and gas extraction.
• Safe Deposit Boxes: Tangible items like jewelry or coins removed from abandoned boxes.

Real estate and vehicles are not considered unclaimed property under this statute.

The "Data Match" Initiative: Automatic Returns

Arkansas recently modernized its system with the passage of Act 114, introducing the Data Match Initiative. This program shifts the burden from the citizen to the state for many claims.

How It Works

The Auditor of State uses secure databases to verify the identity and current address of property owners. If a match is confirmed, the state automatically mails a check to the owner.

• Eligibility: This applies to individual owners with claims valued between $50 and $5,000.
• No Filing Needed: If you qualify, you do not need to file a claim; the check simply arrives in the mail.
• Exceptions: Business accounts, heirship claims, and amounts over $5,000 still require a manual claim filing.

How to Search and File a Manual Claim

For claims falling outside the automatic Data Match criteria, you must actively search and file. The process is digital and secure.

Step 1: Search the Database

Visit the official (https://auditor.ar.gov/) or the direct portal at ClaimItAR.gov.

• Enter your last name or business name.
• Narrow results by adding a first name or city.
• The system displays a value range (e.g., "Over $100") rather than exact amounts to protect your privacy.

Step 2: Initiate the Claim

Select the properties that belong to you and click "Continue to File Claim." The system will generate a unique Claim ID. Save this number, as you will need it to track your status or upload documents later.

Step 3: Verify Your Identity

For most simple claims, the system may verify you instantly using public records. If manual review is needed, you will be asked to upload:

• Photo ID: A valid driver's license or state ID.
• SSN Proof: A document displaying your Social Security Number.
• Address Proof: A document linking you to the "Last Known Address" reported by the holder.

Handling Deceased Relatives' Property (Heirship)

Claiming money for a deceased relative is more complex because you must prove you are the legal heir. Arkansas law provides specific pathways to handle these "heirship claims" without always needing a full probate lawyer.

The Hierarchy of Heirs

If the owner died without a will (intestate), the state follows the Intestate Descent Table. Inheritance priority generally flows in this order:

1. Children and descendants.
2. Surviving spouse (if married continuously for 3+ years).
3. Parents.
4. Siblings.

Small Estate Affidavits

To save heirs money, Arkansas offers alternatives to full probate court administration based on the value of the claim.

1. The Auditor’s Affidavit (Under $10,000) For claims valued below $10,000, the Auditor of State allows you to use their internal Affidavit of Heirship.

• Requirements: Must be signed by the heir and a disinterested third party (family friend).
• Notarization: Required.
• Cost: Free to file with the Auditor.

2. The Court's Small Estate Affidavit (Under $100,000) For estates valued up to $100,000, you may file a (https://eforms.com/small-estate/arkansas-small-estate-affidavit-form/) with the Circuit Court Clerk.

• Wait Time: You must wait 45 days after the death to file.
• Filing Fee: Typically around $25-$30.
• Result: The certified copy from the court empowers you to collect assets held by the state.

Consumer Protection: Avoiding Scams

Third-party businesses known as "Heir Finders" often contact owners offering to find their money for a fee. While legal, their services are strictly regulated to protect you.

• The 24-Month Rule: Finders cannot charge a fee for property that has been in state custody for less than 24 months.
• Fee Cap: Arkansas law limits their fee to 10% of the property value. Any contract demanding more is unenforceable.
• Free Alternative: You can always find and claim the exact same property for free through the official state portal.

Holder Reporting Responsibilities

Businesses holding unclaimed funds have a legal obligation to report them. This ensures the economy remains fluid and citizens receive what they are owed.

• Due Diligence: Holders must send a written notice to the owner's last known address 60 to 180 days before filing a report.
• Negative Reports: Even if a business has no unclaimed property to report, they must file a "Negative Report" to confirm they checked their records.

Table 1: Reporting Deadlines for Businesses

Table 2: Essential Contact Information

Frequently Asked Questions