Could Inland Revenue Be Holding Unclaimed Money for You?
While reading the Weekend Herald on Saturday, 1 August 2026, I came across an article reporting that Inland Revenue is holding approximately $619 million in unclaimed money.
The figure caught my attention, so I decided to search Inland Revenue’s unclaimed money database myself. I am sharing this information because a quick search may identify money that an individual, business or trust did not realise was still outstanding.
What is unclaimed money?
Unclaimed money is generally money that has remained untouched and whose owner cannot be located by the organisation or person holding it.
It may include money from:
banks and other financial institutions;
solicitors’ trust accounts;
insurance policies;
unpaid wages or employee benefits; and
other businesses or organisations.
Generally, money becomes unclaimed when the organisation has had no contact with the owner for five years and has been unable to return it. The money may then be transferred to Inland Revenue, Public Trust or Treasury.
It is important to understand that unclaimed money is not an income tax refund or another type of unpaid tax refund.
How can you check?
Inland Revenue provides a free online database that allows you to search using the name of a person or organisation.
Search Inland Revenue’s unclaimed money database
When searching, consider checking:
your current and previous names;
previous surnames and spelling variations;
the legal name of your business;
previous company or business names;
the full legal name of a trust; and
the names of businesses or organisations that have since closed.
A business may appear under its legal name rather than the trading name familiar to its customers. The organisation that transferred the money may also now operate under a different name following a merger or restructuring.
In practice, people often change addresses, banks, personal names or business names. They may therefore be unaware that an old account balance or another amount remains outstanding.
What happens if you find a possible match?
Finding the same or a similar name in the database does not automatically establish that the money belongs to you.
A claim can be submitted through myIR. Inland Revenue will ask for information showing your connection to the money, such as:
an address used when the account was active;
an old account statement;
correspondence from the organisation that transferred the money; or
documents confirming the relevant business or trust name.
You can also search the public database for another person or organisation. However, to submit a claim on someone else’s behalf, you must provide evidence that you have authority to act for them.
For a deceased person’s estate, Inland Revenue may require documents such as a will, death certificate, letters of administration or other evidence of authority.
Inland Revenue will compare the information provided with its records before deciding whether to approve the claim.
Claims currently take at least 12 weeks to process and may take longer depending on demand.
Is there a time limit?
Inland Revenue holds unclaimed money for 20 years. If no one claims the money during that period, it is removed from the searchable list and no further claim can be made through this process.
It may therefore be worthwhile checking the database occasionally, particularly if you have:
moved to a new address;
changed banks;
changed your personal or business name;
closed a business or bank account; or
lost contact with a former employer, financial institution or service provider.
Be alert to scams
Searching Inland Revenue’s database and submitting a claim directly through myIR is free.
Be cautious if someone contacts you unexpectedly about unclaimed money and asks for an upfront payment, your myIR password, banking password or other sensitive information. The approach may be a scam.
Never provide your login details to another person. Access the unclaimed money service directly through Inland Revenue’s official website.
A useful five-minute check
You may not find anything, but searching the database only takes a few minutes and may be particularly useful for people, businesses and trusts that have changed names, addresses, banks or service providers over the years.
If you find a possible match involving a company, trust or deceased person and are uncertain about the supporting documents or authority required, please contact our office for guidance.
Finding a possible match does not guarantee payment. Any entitlement to unclaimed money remains subject to Inland Revenue’s verification and approval.
Published: 2 August 2026
Author: Yugraj Singh Mahil, Chartered Accountant
Disclaimer: This article provides general information only and does not constitute personalised tax, legal or financial advice. The information should not be relied upon as a substitute for advice relating to your particular circumstances.
