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Unclaimed Property and Lost Money

 

State and federal agencies are holding over $300 billion in unclaimed property and lost money. An asset becomes abandoned in the eyes of the law when the original owner is lost (typically after a name or address change), or when the rightful heir fails to 'communicate an interest' in it over a number of years, known as the 'dormancy period.' Those left holding unclaimed assets - banks, brokers, insurance companies, and government agencies themselves - remit them to the protective custody of a government trust account in a legal process referred to as 'escheat.' Here they await your claim!

Unclaimed Government Money Consumer Alert

 
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.
Unclaimed property databases on-line contain only a fraction of accounts actually available for claim.
There are statutory time limits on some types of unclaimed property claims, so prompt action should be taken.
Unclaimed funds held by federal agencies are not included in state unclaimed property databases.
Foreign nationals and corporations need to follow special procedures to locate and claim lost money.
Certain types of unclaimed assets (including government checks & refunds) are not included in unclaimed property databases online.
Unclaimed property refund checks average $800-$1000, but many are for substantially more.

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