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Creditors

Unclaimed Funds

 

Search unclaimed funds

 

 

Affidavit and Request for Release of Unclaimed Funds (Claimant and Funds Locators) fillable

Affidavit and Request for Release of Unclaimed Funds (Debtor/Joint Debtor) fillable

Certificate of Service fillable

IRS Form W-9 Request for Taxpayer Identification Number and Certification

 

What are Unclaimed Funds?

Unclaimed funds are funds held by the court for an owner or recipient who is entitled to the money, but who has failed to claim ownership or who cannot be located and payment has been returned.  Unclaimed funds may arise from a wide variety of circumstances.  Some of the more common circumstances that give rise to unclaimed funds in a bankruptcy court are below.

  1. Trustee's Unclaimed Dividends
    1. An unclaimed dividend arises when a trustee distributes a dividend to a creditor pursuant to the settlement of a bankruptcy case, but the property goes unclaimed, the payment is not negotiated or is returned.
  2. Trustee's Undistributed Dividends
    1. An undistributed dividend is one that is so small — less than $5 in a chapter 7 case and less than $15 in a chapter 12 or 13 case – that distribution by the trustee is not legally required, unless mandated by a local rule or order.  Also see Fed. R. Bankr. P. 3010.
  3. Unclaimed Interpleader Funds
    1. In some bankruptcy cases, the court may hold other types of funds, such as interpleader funds and cash bonds, pending the resolution of litigation.

When a claimant contacts the court to request unclaimed funds the claimant must submit a petition to the court [and upon notice to the U.S. Attorney and full proof of the right thereto],  requesting the release of the funds.

Claims [or Requests] for the Release of Unclaimed Monies

Three types of entities request the release of unclaimed funds.  Owners of Record: the person shown in the court’s records as the owner of the funds.  Successor Claimants:  business successors, decedent’s estates, assignees, judgment creditors, etc., who now have direct claims to the funds but are not the owners of record.  Representative Claimants: typically fund locators who act on behalf of owners of record/successor claimants.  Fund locators are private enterprises that seek to identify unclaimed funds, locate entities that may have potential claims, make claim to the funds on the behalf of the entities and collect a percentage of the funds recovered as a fee.

In addition to the individual items required below the owner of the record is the party who is shown in the court record as the owner of the funds.  The owner of the funds must prove their identity by providing the court with a photocopy of photo identification, such as driver's license or passport of the party entitled to the funds; and certificate of service to U.S. Attorney’s office must be filed or submitted.

  1. Owners of the Record
    1. When a party contacts a court to request unclaimed funds, the party must submit a legal document — such as an affidavit — to the court requesting the release of the funds. At a minimum, that affidavit must include the following information:
      1. A notarized signature of the claimant
      2. A brief history of the claim
      3. The name, address and telephone number of the claimant, and
      4. The social security or tax identification number of the claimant, via IRS Form W-9 (Must be submitted)
  2. Successor Claimants
    1. When the owner of record is not the claimant, the signer or claimant requesting release of the funds must show proper authority.  All checks will be made payable to the original owner of the record in care of the successor claimant, therefore the social security or tax identification number of the original owner of record, via IRS Form W-9 - Request for Taxpayer Identification Number and Certification must be submitted.
      1. Successor Businesses:
        1. A notarized power of attorney signed by an officer
        2. A statement of the signing officer’s authority
        3. Documentation establishing chain of ownership of the original corporate claimant
        4. IRS Form W-9 for owner of record
      2. Transferred Claims:
        1. Documentation evidencing the transfer of claim or proof of the purchase/sale of assets
        2. Proof of identity of the successor claimant
        3. IRS Form W-9 for owner of record
      3. Decedent's Estate (Administrator, Executor, and Representative):
        1. Certified copies of probate documents establishing the representative’s right to act on behalf of the decedent’s estate
        2. Proof of personal identity of both the estate administrator and the decedent
        3. IRS Form W-9 for owner of record
      4. Representative Claimant (i.e., Fund Locator):
        1. A notarized, original power of attorney signed by the claimant on whose behalf the locator is acting
        2. Documentation sufficient to establish the claimant's entitlement to the funds
        3. Proof of the identity of the representative
        4. IRS Form W-9 for owner of record

 

How the Process Works

Determine Ownership - Review List of Unclaimed Funds

Submit - Affidavit and Request for Release of Unclaimed Funds, IRS Form W-9, Affidavit of Service.

Remember - The owner of the funds must prove their identity by providing the court with a photocopy of photo identification, such as driver's license or passport of the party entitled to the funds; and proof of notice to U.S. Attorney’s office must be filed or submitted.

Timing - Please be patient, this process may take time.  Call the court for specifics 414-297-3291.

Announcement Regarding Transfers of Claims

Recently the Bankruptcy Event - Notice of Transfer of Claim under Claims Actions pick list was modified in this district.  The modified event, Notice of Transfer of Claim is to be used for all filing chapters except chapter 11.  For chapter 11 cases, use the event Transfer of Claim (ch 11 as scheduled).

Procedure for Docketing Notice of Transfer of Claim

1.     From the Bankruptcy Events menu, select Claim Actions

2.     Enter the Case Number

3.     Select Notice of Transfer of Claim

4.     Bypass the attorney selection screen, if appropriate

5.     At the Select the Party screen, Select or Add/Create New Party with the name of the transferee

6.     Browse for the PDF image

7.     Select the Transfer Type

8.     Click on Add New Creditor button and add the name and address for the new claimant

9.     Search for the Transferor

10.   Complete the sentence as to whether the Transferor's opportunity to object is Not Waived or Waived.

National Creditor Registration Service

National Creditor Registration Service

The National Creditor Registration Service (NCRS) is a free service provided by the U.S. Bankruptcy Courts to give creditors options to specify a preferred U.S. mail, e-mail address, or fax number to which bankruptcy notices should be sent.

The Preferred Address service supports the amendment to title 11 U.S.C. § 342(f) of the Bankruptcy Act of 2005, along with the pending amendment to Bankruptcy Rule 2002(g)(4), both of which permit a creditor to specify a preferred mailing address to be used by all the bankruptcy courts or by particular bankruptcy courts for providing notices.

The Electronic Bankruptcy Noticing (EBN) program supports Federal Rule of Bankruptcy Procedure 9036 which allows court notices to be transmitted electronically to notice recipients, delivering them faster and more conveniently than mailed paper notices.

If you are interested in participating in the NCRS, you might consider the benefits that EBN can offer your organization over mailed paper notices.

File a Claim Electronically

  • Creditors are now able to file Proof of Claim forms for all chapters electronically. A CM/ECF login/password is not required.
  • The Submit a Proof of Claim form program contains a fillable Form B10 Proof of Claim form. Supplemental documentation to the claim may be attached. The attorney may file the proof of claim through the website, indicating, "filed by: attorney" or may obtain a live ECF login and password.
  • The address of the creditor is automatically added to the mailing matrix of a case when a proof of claim is filed to insure service of case-wide documents.
  • Amended Claims - Check the box indicating that the claim amends a previously filed claim. Select the court claim number.
  • The full name and title of a creditor or other person authorized to file a proof of claim must appear on the form. If a party other than the creditor is filing the proof of claim, the address of that party must be included. Filing a proof of claim electronically deems the claim signed by the creditor or authorized person.

Penalty for filing fraudulent claim: Fine of up to $500,000 imprisonment for up to 5 years, or both. 18 U.S.C. §§ 152 and 3571.

Form B10 Instructions

Frequently Asked Questions (updated 6/3/2010)

Submit a Proof of Claim

File a Claim Step-by-Step (PDF)

Creditor Forms

A Claim

A claim is the creditor's right to receive payment on a debt owed by the debtor that arose on the date of the bankruptcy filing.  See 11 U.S.C. 101 (5).  A claim may be secured or unsecured.

Proof of Claim

A proof of claim is a form used by the creditor to indicate the amount of the debt owed by the debtor on the date of the bankruptcy filing. The creditor must file the form with the clerk of the same bankruptcy court in which the bankruptcy case was filed.  Click here for a PDF fillable proof of claim.

Creditor Change of Address

It is important to keep your address current with the court if you are a creditor in a bankruptcy case.  Use the fillable form in this Resources section.  Mail it to the Clerk, U.S. Bankruptcy Court, 517 East Wisconsin Avenue, Room 126 U.S. Courthouse, Milwaukee, WI 53202.   Click here for a fillable Change of Address Form.