Unclaimed Funds Procedures

The release of unclaimed funds may occur only after the claimant/filer:

  1. Submits for filing an Application for Payment of Unclaimed Funds, along with a proposed Order to the Clerk of Court, containing:
    1. The name, address, and telephone number of the creditor. A brief history that reflects possible reasons for the funds not being deliverable at the time of the original distribution should also be included;
    2. Evidence/documentation of assignment of the claim to the claimant/filer, (if claimant/filer is not the individual/organization listed on the Court's Unclaimed Funds report as the creditor);
    3. Claimant/filer certification regarding the existence of any other party may be entitled to the unclaimed funds.
  2. Serves a copy of the application upon the United States Attorney for the Northern District of Iowa, and attaches a Certificate of Service with the original application filed with the U.S. Bankruptcy Court. The mailing address for the U.S. Attorney is 111 Seventh Avenue SE, Box 1, Cedar Rapids, IA 52401.
  3. Proves the claimant's identity through at least one of the following methods:
    1. An individual, appearing personally before the clerk of this court or the clerk's designee, shall provide documentation evidencing identity, such as an unexpired passport or valid driver's license.
    2. An individual, not appearing personally before the clerk of this court or the clerk's designee, shall file an Affidavit with the certificate of a notary public. Such affidavit shall bear the seal of the notary, and indicate that the notary has examined the documents presented by the claimant/filer to establish identity. Such documents may include an unexpired passport or a valid driver's license. This affidavit is part of the prescribed Application for Payment of Unclaimed Funds. A separate affidavit is not needed if the prescribed Application for Payment of Unclaimed Funds is used.
    3. Any claimant name change shall be substantiated by supporting documentation.
    4. A corporation representative appearing for the corporation shall attach to the application an affidavit of the Chief Executive Officer that such representation is a duly authorized representative of the corporation. If the creditor/claimant is a successor corporation, documents establishing the chain of ownership of the original corporate claimant shall be provided as proof of entitlement to the unclaimed funds.
    5. A representative of a deceased creditor/claimant shall provide certified copies of all probate documents, including a copy of the death certificate, to substantiate the representative's right to act on behalf of the decedent's estate. An executor filing the application on behalf of a beneficiary shall include a notarized copy of the Probate Order appointing him as executor.
    6. If claimant is represented by an attorney-in-fact (attorney or "funds locator"), copies of power of attorney documents shall be provided to ensure that proper authority has been granted.
    7. Additional proof of identity or entitlement to funds may be requested, if required, on a case-by-case basis.
  4. The claimant shall complete and sign either a W-9 Form or a Tax Identification Number Certification (AO213) form. The Financial Information section of the AO213 form should be completed if electronic payment is desired. If that section is left blank or a W-9 Form is used, a check will be issued.
  5. Any payment made to a claimant represented by an attorney will be issued to the claimant and mailed to the attorney or as ordered by the court. The Financial Information section of the AO213 form should not be completed
  6. An Unclaimed Fund Payment may have tax implications. The Court cannot address these issues so you may need to consult a tax advisor.

Questions concerning these procedures should be directed to the Chief Deputy, U.S. Bankruptcy Court, Northern District of Iowa, 111 Seventh Avenue SE Box 15, Cedar Rapids, IA 52401, (319) 286-2200.