U.S. Tax ID / ITIN for Unclaimed Property
If you’ve discovered that there’s unclaimed property in the U.S.—bank accounts, dividends, forgotten assets in your name, you may need a U.S. Tax ID or ITIN to recover it. This blog explains how and why that works for non-residents.
Why You Might Need an ITIN for Unclaimed Property
- When property or funds are held by a U.S. entity under your name, it may require tax reporting before it can be released.
- To process payments, the holder (bank, state unclaimed property office, etc.) may need your taxpayer identification number.
- If you are not eligible for a Social Security Number, an ITIN is your option to legally identify yourself in U.S. tax matters.
How to Use an ITIN to Claim Unclaimed Property
- Apply for an ITIN via Form W-7, supplying identity and foreign status documents.
- Once your ITIN is assigned (via CP565 notice), provide that number to the entity holding your unclaimed property.
- Submit any required U.S. tax forms or withholding documents they request, using your ITIN.
- The entity will use your ITIN to comply with U.S. reporting and then transfer the assets or funds to you.
Key Tips & Considerations
- Start the ITIN process early—some holders won’t release assets until tax requirements are satisfied.
- Make sure your name and address match exactly in your ITIN application and your unclaimed property records.
- Be prepared to respond to any withholding or tax questions tied to the property you are claiming.
- Keep copies of all documents and communications for your records.
Final Thoughts
Unclaimed property in the U.S. can be recovered even if you live abroad—but having a valid U.S. tax ID is often necessary. An ITIN bridges that gap, allowing you to legally claim your assets. Each form carries different rules depending on your residency status, income type, and treaty eligibility.
For professional assistance with the forms, treaty benefits, or U.S. tax compliance, contact our team today.
We are one of the IRS Enrolled Agent with many years of experience in US 1040/1040NR personal tax compliance reporting and Fatca Compliance FBAR Reporting, We are happy to assist our clients in a timely, efficient, and cost-effective way.
