One in 10 Americans has unclaimed property or money floating around. Here’s how to know if you are one of them.
Billions of dollars remain unclaimed across the U.S. — and some of that money may be yours.
One in seven people has unclaimed cash sitting in the hands of the government, according to the National Association of Unclaimed Property Administrators.
Unclaimed money comes in many forms, whether an uncashed check from an employer or insurance provider, or money that once belonged to a family member who’s died.
Unclaimed money can also come from stocks, bonds, mutual funds, traveler’s checks, certificates of deposit or proceeds from life insurance policies.
In 2023, Illinois’ State Treasury was in possession of more $3.5 billion in unclaimed funds — and this number is not uncommon.
Florida has over $2 billion in unclaimed funds as of 2024, the state reports, and that’s after $323 million was paid out to residents in 2023.
Ohio’s Department of Commerce reported in April that it has $4 billion in unclaimed funds.
What is unclaimed property?
Property, or monetary assets, are considered “unclaimed” after an account has remained dormant for a certain period of time, usually after several years.
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Cash becomes unclaimed once it’s turned over to the state.
Even if you keep close track of your bank accounts, it may still be worth searching your name in a state database since unclaimed money comes in many forms.
How to search for unclaimed money
To check if you have unclaimed money, you’ll want to search your name in your state database.
In California, residents search through the state’s Controller’s Office with only their name, though you can also narrow down the search results with an address or city. Other states have similar online databases.
In addition to searching for your own unclaimed money, Americans can also search for funds that belonged to a relative.
In California, heirs can file a claim for money owed to a deceased relative. The process to claim the funds as an heir often requires more documentation, like a will, trust or death certificate.
Can I search for unclaimed money in more than one state?
Most U.S. states partner with missingmoney.com, a website managed by the National Association of Unclaimed Property Administrators. The website allows you to search multiple states’ unclaimed money databases on a single site.
You’ll want to search for states you’ve lived or done business in.
How to retrieve your unclaimed cash
Depending on your state, you’ll either file a claim online or via mail. While each states’ protocol varies, you’ll likely need to documentation that proves ownership of the money, along with identification.
In California, if you’re claiming property in your name, you’ll need to complete a claim affirmation form and provide your Social Security number, state identification and other documentation.
The process is more complex if you are claiming money on behalf of a child or deceased relative.
