Frequently Asked Questions
What is unclaimed cash and property?
Unclaimed cash and property refers to accounts in various financial institutions that have had no activity generated or contact with the owner for one year or longer. Unclaimed assets can take the form of checking accounts, savings accounts, payroll checks, refunds, distributions, gift certificates, traveler’s checks, insurance payments, life insurance policies, security deposits, uncashed dividends, customer overpayments, etc.
How can I locate possible unclaimed funds owed to me?
The quickest and most convenient way is to use an online service that has a database of people owed money in all 50 States. These services do the work for you and only charge a very nominal fee. Never work with a service that charges you a percentage of the money you claim.
Why do cash, property, refunds, assets, etc. become unclaimed?
Often times, this occurs when you move and do not notify companies of your new address, forgot to cash a dividend check, forgot to cash a health insurance check, forgot about a savings account you opened for your child, did not receive a refund check you were owed, etc.
How long can claims be made for these abandoned or lost assets?
In general, claims can be made in perpetuity by both owners and heirs. However, some types of abandoned funds are subject to time limits.
How can I search to see if I have the right to any unclaimed cash, property, etc?
Each state has a database of unclaimed property, cash, and other assets. To make the process simpler, there are many online services that will a do nationwide unclaimed asset search for you.
What is done about unclaimed property?
All 50 States have unclaimed property programs that attempt to actively find the owners or heirs of these lost or abandoned assets.
What is the monetary value of unclaimed property and cash?
Approximately, $33 billion in unclaimed property and cash is being safeguarded by state treasurers and other agencies.
Does the government owe me money, assets, refunds, property, etc?
9 out of 10 Americans are entitled to unclaimed money or property. One way to know for certain if you are one of these people is to use an online unclaimed money service. These services do the work for you by compiling a nationwide database of people owed money in all 50 States. These services generally charge a nominal search fee.
Do the States charge a fee for holding these unclaimed assets for you?
It depends on the State, but most will charge a nominal handling fee when you file a claim form and verify your identity.
How do I prevent my assets from becoming lost or abandoned in the future?
The best way to prevent this is to continue contacting the financial institutions that hold your property or money at least once a year. This way, they have your latest contact information.
How many people are owed unclaimed cash?
It is estimated that approximately 9 in 10 Americans are owed unclaimed cash.
Am I entitled to unclaimed cash and benefits of deceased relatives?
Often time’s family members are still entitled to unclaimed cash and benefits owed to deceased relatives who did not leave an updated will.
What is the average amount of unclaimed property claims?
On average, property claim refund checks are $800 to $1,000.