201610.03
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Please note that this is an information post. We provide notary and certification services as required.

To contact UFAA, please note that their contact details are as below;

Unclaimed Financial Assets Authority,
Pacis Centre, 2nd Floor, Slip Road, Off Waiyaki Way, Westlands, Nairobi.
P.O Box 28235-00200, Nairobi, Kenya.
Phone: 020 4023000, 020 4343440, 0706866984, 0736559152
Email: info@ufaa.go.ke

The Unclaimed Financial Assets Act provides a mechanism and framework for the procedures to be followed when dealing with unclaimed financial assets in Kenya. According to the Act, financial assets are inclusive of incomes, dividends and interests. A financial asset is ordinarily considered to be unclaimed when no claims, transactions or no instructions have been received with respect to that asset after a certain period of time as prescribed by the Act.

Procedure for Filling A Claim

A person seeking to claim an interest in any assets may file with the Authority a claim as prescribed by the Authority. The Authority thereafter considers the claim within 90 days and shall give the claimant a written notice of its decision. One can visit www.ufaa.go.ke for more information.

When claiming to the Authority, one is required to state their preferred mode of payment. It is important to note that the Authority does not make any cash payments and thus one is required to provide details to facilitate payment through a bank transfer, cheque or mobile money transfer.

For an individual claiming a banker’s cheque or an insurance policy, they are required to provide the original banker’s cheque or original policy document/affidavit for lost policy document respectively. One can also inquire about unclaimed assets through this link http://www.ufaa.go.ke/forms/view.php?id=10702

Claiming by Original Owner

These are the requirements when the owner is claiming;

  1. Completed Original Owner(s) claim form (Form 4A)
  2. Completed Indemnity agreement (Form 5) duly notarized
  3. An official letter from the holder confirming surrender of assets to the Authority
  4. Certified copy of the claimant’s national identity card or passport
  5. Certified copy of claimant’s PIN certificate

Claiming On Behalf (Beneficiary/Deceased Cases)

The claimant is required to submit the following to the Authority;

  1. Completed beneficiary claim form (Form 4B)
  2. Completed Indemnity Agreement (Form 5) duly notarized
  3. An official letter from the holder confirming surrender of assets to the Authority
  4. Certified copy of the claimant’s national identity card or passport
  5. Certified copy of the claimant’s PIN certificate
  6. Certified certificate of death
  7. Certificate of confirmation of grant/ certificate od summary administration

Claiming On Behalf (where owner is alive/agent for owner)

  1. Completed agent for owner claim form (Form 4D)
  2. Completed indemnity agreement (Form 5) duly notarized
  3. An official letter from the holder confirming surrender of the assets to the Authority
  4. Certified Copy of claimant’s PIN certificate
  5. Registered power of attorney (registered at the Ministry of Lands)

Claiming on Behalf of a Business entity

  1. Completed business entity claim form (Form 4C)
  2. Completed Indemnity agreement (Form 5) duly notarized
  3. An official letter from the holder confirming surrender of the assets to the Authority
  4. Completed form CR 12 obtained from the Company Registrar indicating directors of a company
  5. Certified copy of the directors’ national identity cards or passports
  6. Certified copy of directors’ PIN certificates
  7. Certificate of Incorporation

Claiming on Behalf of a minor who is an original owner

  1. Completed agent for owner claim form (Form 4D)
  2. Completed indemnity agreement (Form 5) duly notarized
  3. An official letter from the holder confirming surrender of the assets to the Authority
  4. Certified copy of the claimant’s national identity card or passport
  5. Certified copy of claimant’s PIN certificate
  6. Guardianship deed

The claim forms can be obtained through the following link http://www.ufaa.go.ke/index.php/unclaimedassets/claimant/forms

Part III of the Act provides for the duties of holders and the Unclaimed Financial Assets Authority.

Consequences of Failure to Claim

The Authority has the right to sell the abandoned assets not later than 3 years after receipt of the abandoned assets to the highest bidder at a public auction. Before the sale, the Authority will publish a notice at least three weeks in advance of sale in at least one of the local dailies.

If you would like assistance with notarization or certification of documents, please contact us by email on info@swkadvocates.com.