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How can I reclaim funds that go to unclaimed moneys? How do I recover lost bank accounts?

To apply for refund of unclaimed moneys, you have to submit one (1) copy duly completed and signed UMA-7 Form, Application for Refund of Unclaimed Moneys (Malay: Borang UMA-7, Permohonan Bayaran Balik Wang Tak Dituntut) 1 and attach the following supporting documents to prove your identity and ownership to the unclaimed moneys:
  1. The original document showing ownership of the sum of money to be claimed.

    Examples include:
    • Bankbook

    • Bank statement

    • Fixed deposit certificate

    • Dividends warrant

    • Unpresented cheque


    If the original document 2 is not available or lost, a letter of confirmation (providing details of the money being claimed) from the bank or entity which forwarded the unclaimed money to the Registrar is required; and

  2. Photocopy of the identity card of the claimant. In the case of a foreign national, a photocopy of those pages in his or her passport showing the passport number, country of issue, name and photograph of holder as well as the page indicating the validity period of the passport. If the foreign national does not have a passport, any document that confirms identity of the claimant should be produced.

  3. In the case of a company or firm, the following additional requirements:
    • Business registration paperwork;

    • The employee of the claimant corporation or business must sign the UMA-7 Form, stating clearly his or her name and capacity or position. Company stamp or seal must be affixed;

    • An authorisation letter given by the company or firm to the individual making the claim on behalf of the company or firm; and

    • The company or firm is required to furnish details of its bank account number and address to allow for the refund cheque to be issued.


Any request for unclaimed moneys must be accompanies by sufficient proof of identification in order to validate the claim.

For application of:
  • deceased's moneys; or

  • where the claimant is not the original owner but has a legal right over the funds to be claimed


the following document is required for submission as proof:
  • Letter of Administration; or

  • Grant of Probate; or

  • Power of Attorney; or

  • Forms E/F under the Small Estates (Distributions) Act 1955; or

  • Court Order.


All applications for refund of unclaimed moneys should be directed to the Registrar of Unclaimed Moneys, either in person or by post 3. The address of the Registrar of Unclaimed Moneys can be obtained from the official website of the Accountant General's Department.

There will be no charge by the Registrar of Unclaimed Moneys for processing applications for refund of unclaimed moneys.

If all is acceptable to the Registrar, repayment will be made, generally, within six (6) weeks. Until June 2007, payment was always made with a government cheque sent to the address on the claimant's identity card. Under new arrangements, payment is made by direct deposit to the claimant's bank account. As such, claimants are also required to include:
  • copy of first page of bankbook or bank statement; and

  • facsimile number or email address.


References
  1. UMA-7 Form can be obtained from the office of the Registrar of Unclaimed Moneys, state offices of the Accountant General's Department and most commercial banks at no cost. You can also download the form from the official website of the Accountant General's Department for official use.

  2. This requirement puts a difficult burden of proof on the claimant. The claimant needs to tell the entity the year the money fell due and type of account. The entity then needs to trace the original record indicating that the funds had been transferred to the Registrar. There is the issue of the entity actually being able to find the record. The entity might have destroyed the record already. The bank or entity is not obliged by law or otherwise to assist the claimant in any way.

  3. You are advised to use a secure and recorded delivery when sending original documents. The original documents will not be returned to you.


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Knowledge Base ID :   1148
Last Reviewed :   April 25, 2014
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