The Queensland Public Trustee is reminding law firms and other businesses of their clients’ legal obligation to lodge unclaimed money with the Unclaimed Moneys Fund.
Samay Zhouand, the Public Trustee of Queensland, said reminder letters had been sent to accountants and auditors because timely lodgement by businesses of unclaimed money was essential to ensure fairness for Queenslanders.
“It’s a legal requirement to lodge unclaimed money with QPT for good reason,” Mr Zhouand said.
“The Unclaimed Moneys Fund provides a transparent and accessible way for Queenslanders to find and claim money they are owed.
“It’s important to note, though, that the Unclaimed Moneys Fund doesn’t hold money from super funds, life insurers, banks or credit unions.
“We also don’t hold unclaimed rental bonds.”
Under the Public Trustee Act 1978, QPT is responsible for managing the Unclaimed Moneys Fund on behalf of the Queensland Government.
Individuals, businesses and organisations can search QPT’s database to see if the fund holds money owing to them.
The same legislation requires businesses to lodge money with the fund once it has remained unclaimed for the relevant holding period, which is typically two years.
Before lodging unclaimed money, businesses must make reasonable efforts to locate the rightful owner and return the money.
Money that remains unclaimed at 30 June in any year and has reached the required holding period must be lodged by 31 October in that year. Unclaimed money for the 2025–26 financial year must be lodged with QPT by 31 October 2026.
More information about holding periods, business obligations and the lodgement process is available on QPT’s website.
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