Imagine a database with 100,000 names on it. Next to 5,000 of them is a red flag that says “STOP MAIL.”
This is the “Gone Away” list. It is the purgatory of the financial world, where assets sit frozen until the owner claims them—or until they are forfeited.
How You Get on the List It is surprisingly easy to trigger a “Gone Away” marker:
- The “RTS” Trigger: If you move house, the new resident might write “Return to Sender” (RTS) on your dividend letter.
- The Two-Strike Rule: Most Registrars operate a “two-strike” policy. If two consecutive mailings are returned undelivered, the system automatically suppresses your account.
- Uncashed Cheques: If you fail to cash 3 consecutive dividend cheques, some registrars will assume you have died or moved, and freeze the account to prevent fraud.
What Happens While You Are “Gone”?
- Dividends Accumulate: The company still declares dividends for you, but they don’t send the cheque. The money sits in a non-interest-bearing client account.
- Voting Rights Pause: You stop receiving AGM notices, so you lose your voice in the company.
- The Forfeiture Clock Starts: For many companies, being on the “Gone Away” list starts the 12-year countdown to forfeiture.
How Companies Try to Find You Before forfeiting the money, responsible companies hire tracing agencies (like ProSearch or Treethorpe).
- These agencies search credit reference files and the electoral roll to find your new address.
- The Catch: If they find you, they will send a letter offering to reconnect you… for a fee (usually 10-15% of your money).
Beat the Fee If you receive a letter from a tracing agency, it means your asset is safe but frozen. You do not have to pay their fee. You can usually bypass the agency, contact the Registrar directly using Divica, and reclaim 100% of your money for free.