Some good news from the taxman

Photo / NZ Herald

Mr K. Nakayama, please report to the Inland Revenue Department - it is holding $371,664.05 of your money.

According to the IRD's latest unclaimed moneys list, released yesterday, a Mrs S. Konami is also owed $252,135.88, while the IRD is holding $230,383.37 Mr Z.W. Zhou apparently knows nothing about.

The taxman holds records, dating back to 1973, of about 97,000 people owed more than $55 million.

Most amounts owed are in the few-hundred-dollars range, though there are a number of larger sums.

A Herald search of the Companies Office uncovered links to two K. Nakayamas, one in Tauranga, the other in Glendowie, East Auckland. The Bay of Plenty lead turned out to be a dead end, so the Herald paid a visit to Glendowie, hoping to be the bearer of some good news.

Sadly, there was only bad news there, as well. "I wish it was me," said Mr Kazushige Nakayama. He has been receiving letters for some time suggesting he could be the lucky owner of the money, but he has only been in the country three years. The money concerned stems from transactions older than that.

The cash is not unclaimed tax refunds, the IRD is at pains to point out. Rather, it is held cash from bank accounts, or funds from financial institutions. It could include insurance proceeds, cheques or wages.

The various institutions are required to make every effort to make sure outstanding sums of money are returned to their rightful owner but, under the Unclaimed Monies Act, funds left untouched for more than six years must be passed to Inland Revenue.

The IRD managed to return about $1.7 million in unclaimed funds to about 1000 people last year.

Are you owed money? Go to:

ird.govt.nz/unclaimed-money