Source: Radio New Zealand
Supplied
A woman who is trying to claim $12,000 from Inland Revenue’s unclaimed money list says she has been frustrated by continuous hurdles.
IR has a database of amounts of at least $100 that have been left untouched in banks, finance companies, investment funds or with someone such as a solicitor or accountant.
When reasonable efforts have been made for five years to try to locate the owner, it can be transferred. In some circumstances, it can be transferred to IR earlier, such as when an organisation is running a routine remediation process.
In the middle of last year, there was more than $600 million waiting to be claimed.
But Jess, who did not want to be identified, said that had proved hard to do in her case.
“In September 2025, I applied for $12,000 of unclaimed money which is listed in my dad’s name, who passed away July 2025.
“This is a huge sum of money. The money is listed as being from ANZ, and IRD are refusing to pay unless I can provide the bank account number that the funds were in, despite telling me that the account was opened prior to 1975, which means it was a childhood account of my dad.
“We cannot find this account number, and ANZ are also saying they cannot help.
“There must be other ways to prove that the funds belong to my dad … It is listed on the unclaimed funds register in his full name, and IRD have told me that the account was opened in Palmerston North, which is where my dad is from, so we are confident it definitely belonged to him.”
She said she had contacted ANZ as well as the Banking Ombudsman but had no luck getting the information that Inland Revenue wanted.
Inland Revenue said it could not comment on her case specifically.
“Banks and other institutions who pass on unclaimed money to Inland Revenue have to tell us what information they have about the owner and the money.
“From time to time this information is limited and that poses challenges for both IR and claimants alike when establishing ownership.
“However, the onus remains on the claimant to satisfy IR they are entitled to the money. Only then can Inland Revenue pay the money to them (s 11(1) of the Unclaimed Money Act 1971).
“Sometimes the information the bank or other institution has provided is limited but based on circumstances, and the balance of probabilities, it is enough for IR to be satisfied the claimant is the owner of the money. In other cases, it is not enough to satisfy Inland Revenue that they are the owners.”
Consumer NZ said a lawyer could potentially be able to help Jess.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
