About unclaimed money

Unclaimed money

Unclaimed money is money held in an account that has been inactive for at least 6 years. Once the 6 years have passed, it is deposited with us. However, trust money held by a licensee (e.g. estate agent) under the Property Stock and Business Agents Act 2002 is deposited with us if it has been held for more than 2 years.

Trust money held by a former licensee or personal representative of a deceased licensee must be lodged within 3 months after the date the person ceased to be a licensee or became a personal representative of a deceased licensee.

Accounts with $100 or less are not classed as unclaimed money. However, this $100 limit does not apply to trust money held under the Property Stock and Business Agents Act 2002 or superannuation funds.

Amounts $100 or less can still be lodged with us using the online lodgement facility. This money will be treated as unclaimed money and if over $20 will be listed on our website for claim.

Superannuation

Superannuation becomes unclaimed:

  • for a member:

    • when they have reached the eligibility age of 65 years

    • no contributions have been received or defined benefit accrued for two years

    • no contact has been made with the member for five years, despite reasonable efforts by the provider.

  • for a non-member spouse:

    • in cases of a payment split as a result of a determination under the Family Law Act 1975

    • when they (or their legal representative, if they are deceased) are entitled to be paid an amount

    • the superannuation provider, after reasonable efforts and time, is unable to ensure the benefit is received by the non-member or any other person entitled to receive it.

  • for a deceased member:

    • the superannuation provider determines that an immediate benefit (other than a pension or annuity) is required to be paid

    • no contributions have been received or defined benefits accrued for two years

    • the superannuation provider, after reasonable efforts and time, is unable to ensure the benefit is received by the person entitled to receive it.

What type of money do you hold?

We hold the following types of money:

  • dividends
  • principal and interest
  • trust account funds
  • expenses
  • refunds and overpayments
  • deposits and premiums
  • unpresented cheques
  • proceeds of sale
  • royalties
  • commissions
  • creditors
  • debentures
  • bonds
  • convertible notes
  • superannuation lodged between 1 July 1997 and 30 June 2007
  • New South Wales (NSW) Public Sector Superannuation.

Note: unclaimed Non-NSW Public Sector Superannuation after 1 July 2007 is lodged with the Australian Tax Office.

How long do I have to claim my unclaimed money?

You have 6 years from the time we receive the unclaimed money to make a claim. However, the Chief Commissioner will consider a claim after 6 years. Please note there is no time limit for unclaimed superannuation benefits.

Who needs to lodge unclaimed money?

All NSW enterprises and NSW Public Sector Superannuation Funds are legally required to send unclaimed money to us.

Last updated: 23 May 2016