Millions in WaMu deposits remain unclaimed

The Bellingham Business Journal

The Washington State Department of Revenue is seeking the owners of $9.8 million in deposits that went unclaimed after Washington Mutual was shut down in 2008.

The Federal Deposit Insurance Corporation (FDIC) turned the funds over to the state recently, and the department has mailed claim forms to the last known addresses of anyone with more than $75 in unclaimed deposits. It also has posted on its searchable database the names of businesses and individuals who have at least $25 in unclaimed assets.

The database can be searched at dor.wa.gov or claimyourcash.org.  Those without an Internet connection can call 1-800-435-2429.

J.P. Morgan Chase received most of WaMu’s accounts when the bank failed, but inactive accounts were turned over to the FDIC. Accounts generally become inactive when the holder has made no deposits, withdrawals or had any other contact with the bank for at least three years.

The state has 10 years to find the account owners before the funds revert to the FDIC.

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