Unclaimed Money: Proposals for Transferring Unclaimed Funds to States

Abstract

Federal agencies hold hundreds of millions of dollars that individuals have never claimed. With certain exceptions, proposed legislation introduced by Senator Orrin G. Hatch and Representative Larry E. Craig would require that federal agencies turn over to the states any amounts agencies cannot return to owners. As requested, GAO is providing information to these Congressmen to assist them in assessing the impact of the bills. GAO identified existing laws that address unclaimed funds and assessed the effect that the bills would have on those statutes and the federal budget. For selected agencies, it provided data on amounts owed, described the agencies capabilities to identify and locate individual owners, and outlined agency procedures and efforts to do so.

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Document Details

Document Type
Technical Report
Publication Date
May 09, 1989
Accession Number
AD1100213

Entities

People

  • Dorothy Fields
  • Jagdish Narang
  • Jeffrey C. Steinhoff
  • Karen L Bell
  • Margareth Lange
  • Melanchthon Mench
  • Stephen Farnsworth

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Ground and Sea Platforms
  • Human Systems
  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Accounting
  • Congress
  • Control Systems
  • Department Of Defense
  • Department Of Veterans Affairs
  • Federal Budgets
  • Federal Law
  • Financial Management
  • Governments
  • Law
  • Money
  • National Governments
  • Personnel Management
  • President (United States)
  • Public Administration
  • United States
  • United States Government

Readers

  • Government and Public Administration Law.