Claim dormant funds held by the Court Funds Office before it's too late

From 1st June 2024 onwards, any account dormant within the CFO for 30 years or more will be surrendered, with any future right to claim the funds extinguished. This alteration underscores the importance of taking action promptly for those who may have funds held in such accounts.

The CFO holds funds deemed dormant when there has been no activity on the account for an extended period, and all attempts to trace the intended beneficiary have proven fruitless. These funds could originate from various sources, including damages awarded to minors as a result of civil legal actions, assets of individuals lacking the capacity to manage their own financial affairs, or pending settlements of civil court actions.

With just one month left before the impending deadline, individuals are urged to ascertain whether they or someone they're responsible for may be entitled to claim an account held by the CFO for 30 years or more. The process involves searching the online database on GOV.UK or reaching out to CFO enquiries directly. The online database provides crucial information such as the case name, account opening date, and the final date by which the account is eligible to be claimed.

Upon locating a potentially eligible account through the online database, claimants must then contact the Court Funds Office, which will guide them to the relevant court to initiate the claim process. Providing evidence linking the claimant to the account is crucial during this stage.

Furthermore, for accounts with ongoing claims submitted to the relevant court within 12 months of the last claim date shown on the online database, claimants must inform CFO. This ensures that accounts with active claims are not inadvertently surrendered. Necessary information, including the title of the account, court case number, account number, and claim submission date, should be communicated to CFO via email or phone.

The impending deadline marks a critical juncture for individuals potentially entitled to dormant funds held by the Court Funds Office. By acting swiftly and availing themselves of the resources provided, claimants can secure their rightful funds before the window of opportunity closes.