IRD lists people owed $78m in unclaimed cash

Merry Christmas

IRD has published its latest Unclaimed Money list.

This list is not of those owned touch refunds, but owed cash that has been left untouched for six or more years in companies such as financial institutions and insurance companies, or is an unpaid wage or salary.

After six years of trying to locate a person, a company hands over the cash to IRD under the  Unclaimed Monies Act (1971). There is no time limit to when money can be claimed.

IRD has put an alphabetical list of 18,500 people owned $21 million unclaimed cash here: www.ird.govt.nz/unclaimed-money.

However, the balance - $57 million owed to 193,000 people - is listed in paper-based forms, from pre-2005, and not accessible online.

People who think they are owed money should email unclaimed.monies@ird.govt.nz

The average amount unclaimed is $369, but the cash varies widely.

The largest amount owed in the list of 18,500 online is $371,664.05 owed to Mr K Nakayama.

The mysterious Mr Nakayama has now appeared in newspaper articles on IRD's Unclaimed Money list since at least 2010.

His fellow hold-outs include a Mrs S Konami, who has been owed $252,135.88 and Mr ZW Zhou, owed $230,383.37 - both also owed since at least 2010.

Others in line more money, if they come forward, are Education Minister Hekia Parata and husband Sir Wira Gardiner, who are listed as being owed $1325.12.

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4 Comments & Questions

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How come all these people do not have a tax number? If they do surely the money just becomes a tax credit on their next return.

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The money is not tax related so it cannot be applied against their tax returns. As stated in the article, if a company cannot find a person who is owed money they will hand the money to the IRD after 6 years for them to administer.

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I think this shows an attitude towards our IRD. People are in fear of stepping forward in case they get caught for something else...

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Hapless Hekia Parata can use her unclaimed money to help pay the wages of a school teacher or two still waiting to be Novopaid.

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