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Unclaimed Property and Lost Money

 

State agencies and the U.S. federal government are holding over $300 billion in unclaimed property and abandoned funds.

These financial assets - unclaimed cash in bank checking and savings accounts, certificates of deposit (CD), Individual Retirement Accounts (IRA) and 401(k) retirement plans, stocks, bonds and mutual funds - become abandoned in the eyes of the law when contact with the original owner stops.

This often happens after a name change due to marriage or divorce, an unreported change of address, expired postal forwarding order, outdated or incorrect records, and, most commonly, after an untimely death.

Those left holding abandoned and unclaimed money - banks, brokers, insurance companies, courts and government agencies themselves - remit them to the protective custody of a government trust account in a legal process referred to as escheat.

Here these unclaimed funds awaits your claim!

Unclaimed Government Money Consumer Alert

Most government agencies holding unclaimed property will not contact you - you must initiate a search. There is no "national database" of unclaimed government money. Unclaimed funds may be held anywhere, regardless of where you now live. There are statutory time limits on some types of unclaimed property claims, so prompt action should be taken.

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