Wondering What to Do With Unclaimed Property

If you like finding a $5 stuck in your jeans pocket or a forgotten $20 hiding among your credit cards, you’re going to love these tips on how to find unclaimed property the government and companies owe you.
What is unclaimed property?
Unclaimed property includes accounts in financial institutions and companies that people forget about or don’t even know they have, evidenced by inactivity or lack of contact for one year or longer, according to the National Association of Unclaimed Property Administrators.
The U.S. government is sitting on $18 billion in unclaimed cash owed to "regular people" and businesses. About $17 billion of that money languishes in the Treasury Department in the form of savings bonds people have forgotten about. Financial institutions have tons of money stuffed into forgotten or unclaimed safe deposit boxes.
More types of unclaimed property include forgotten savings or checking accounts, traveler's checks, trust distributions, insurance payments or refunds, annuities, and certificates of deposit.
Once money or goods are considered unclaimed, state statutes tell companies to hand over forgotten funds to a state official who then tries to find and contact the rightful owner or heirs.
Most states will hold the cash until they can find who owns it; but they'll have periodic auctions of safe deposit box contents — who's got enough room for all those gold pocket watches? The state then keeps the proceeds until the owner shows up.
The good and bad news — you may have UP in every state where you've lived.
How to get your money back
States scan websites, cross-check public data, tap national databases and hold public awareness events at state fairs and shopping malls to find the rightful owners of UP. In 2017, $3.235 billion was returned to rightful owners by state agencies.
If you suspect you have UP somewhere, you can start your search on MissingMoney, a NAUPA-endorsed site that contains UP records from most states.
For UP not held by states, check out these places.
•    Life insurance: Check the insurer's website for benefits you're owed.
•    Pensions: Visit the Pension Benefit Guaranty Corp.
•    If you think the IRS owes you money, check the IRS's Where's my refund? tool.
•    If a foreclosed home sells for more than is owed the bank, the remaining money is returned to the homeowner. Notices usually are sent to the address of the foreclosed property and often never reach the rightful owner. These funds are held at a county level. If you think some of that cash is yours, contact your county clerk, who will direct you to the agency that has your money.
Think your money is waiting to be claimed? Give us a call, and we'll help you find funds just dying to be reunited with their rightful owner.