Unclaimed Financial Assets Authority Kenya – UFAA
Watch the video tutorial below of UFAA Kenya Unclaimed assets search
UFAA is a government body established under the The Unclaimed Financial Assets Act (No. 40 of 2011).
It provides a legislative framework for dealing with unclaimed financial assets. The need for this law has been demonstrated by the colossal sums of money being held by financial institutions in Kenya.
Mandate of Unclaimed Financial Assets Authority Act – UFAA Kenya
UFAA provides for:
- Reporting and dealing with unclaimed financial assets in Kenya;
- Establishment of the Unclaimed Financial Assets Authority;
- Establishment of the Unclaimed Financial Assets Trust Fund and other connected purposes.
UFAA Kenya Unclaimed assets search – How to search for Unclaimed Financial Assets at UFAA
To find out if you have any unclaimed asset held by the Unclaimed Financial Assets Authority – UFAA just follow this link Search for Unclaimed Financial Assets at UFAA
Once you find that your name appears in the list of those persons with unclaimed assets, you will need to download the required forms from this link Unclaimed Financial Assets Authority Claim Forms.
After downloading the forms, fill them and send them to Unclaimed Financial Assets Authority offices using this address
Unclaimed Financial Assets Authority – UFAA address
Unclaimed Financial Assets Authority,
2nd Floor, Slip Road, Off Waiyaki Way, Westlands, Nairobi.
P.O Box 28235-00200, Nairobi, Kenya.
How to make an inquiry about unclaimed assets from Unclaimed Financial Assets Authority Kenya – UFAA
To make any Inquiry about unclaimed assets fill the UFAA Kenya claim form online provided in this link Inquiry about unclaimed assets
Roles of Holders of Unclaimed Assets
Holders of Unclaimed financial assets in Kenya are the financial institutions like banks, stocks ans Securities firms and Insurance Companies etc.
These Holders of Unclaimed Assets are required to;
- Make all reasonable efforts to locate the owner and to notify the owner about the assets;
- Send a written notice to the apparent owner at his last known address informing him that the holder is in possession of the assets;
- Make a report concerning the assets to the Unclaimed Financial Assets Authority – UFAA
How can these holders of Unclaimed Assets Determine Unclaimed Assets
An asset will be declared unclaimed where one or more of the following requirements are met:
- The records of the holder do not reflect the identity of the person entitled to the assets;
- The holder has not previously paid or delivered the assets to the apparent owner or other person entitled to the assets;
- The last known address of the apparent owner is in a country that does not provide by law for passage of property to the State where there is no owner or is not applicable to the assets and the holder is a permanent resident in Kenya.
How the Financial institutions should report these Unclaimed Assets to Unclaimed Financial Assets Authority Kenya – UFAA
- The report by a holder of the assets should be filed on or before the first day of November of each year for the twelve-month period ending on the immediately preceding thirtieth day of June.
- The Unclaimed Financial Assets Authority Kenya – UFAA has discretion to extend the filing date for up to sixty days after the deadline.
- A person required to file a report shall at the time of filing pay or deliver to the Authority all abandoned assets that are required to be reported or any balance outstanding.
- The report to be filed includes all assets that would have been presumed abandoned before the Act came into force.