Surplus funds in Arkansas, known as Excess Proceeds from tax-delinquent property sales, can be recovered through the Arkansas Auditor of State’s office. These funds, resulting from sales exceeding taxes owed, are held for 1–3 years depending on the sale date. Claimants must be the record owner at the time of sale.
How to Recover Surplus Funds in Arkansas
- Search for Property: Check for excess proceeds on the official Arkansas Auditor’s portal.
- Unclaimed Property: For other types of funds (utility deposits, insurance, bank accounts), search the Great Arkansas Treasure Hunt at ClaimItAR.gov.
- Eligibility & Time Limits: Funds are held in escrow for one year, but for parcels sold after July 1, 2005, through June 30, 2018, funds are available for three years. For parcels sold after July 1, 2018, funds are held for two years before being returned to the county.
- Automatic Claims: The state now sends automatic checks for unclaimed property amounts between $50 and $5,000 via a “data match” program.
- Costs: Searching for and claiming your property through the state is free.
- Bankruptcy Funds: If the funds relate to a bankruptcy case, file a Form 1340 with the U.S. Bankruptcy Court for the Eastern or Western District of Arkansas
