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Did you know there might be unclaimed money waiting for you? Yes, you read that right. But how do you find unclaimed money? It may be easier than you think. Here’s your guide to finding out if you have extra cash waiting for you.
Every year, millions of dollars go unclaimed. According to the National Association of Unclaimed Property Administrators, one in seven people have unclaimed property. Thankfully, there are several ways you can find and claim what’s rightfully yours.
Where does unclaimed money come from? It can be from uncashed checks, forgotten bank accounts, unclaimed tax refunds, inactive stock and brokerage accounts, unclaimed safe deposit boxes or other sources you might not even realize are in your name.
Here’s a step-by-step guide on how to uncover your unclaimed property.
How Do You Find Unclaimed Money? Here’s Your Guide.
I’ve gathered a list of the places you can easily check for what you’re owed online. Keep reading to find out how you can claim it. Be sure to check out all the resources. There are specific websites you need to visit to claim certain types of unclaimed property.
Be Aware of Scams
First and foremost, be safe when searching online for unclaimed money. Legitimate websites do not charge a fee to access this information. Always use the official government and trusted websites listed below.
To Start, Search Your State Treasury
Each state has its own treasury that holds unclaimed funds, commonly called property. If you’ve worked in multiple states, consider checking the database for each one.
Here’s how to search for unclaimed money through your state treasury:
Visit your state’s unclaimed property website.
Each state has information on how you can find and claim your property. The National Association of Unclaimed Property Administrators has an easy-to-use interactive map that let’s you select your state and be directed to the correct website. Visit unclaimed.org to get started.
Another search option is MissingMoney.com, which pulls information from various sources to make it easier to search for unclaimed money.
Next, search your name.
Use the search tool to look for your name. Don’t forget to check for variations or misspellings. Also, search for any past names or maiden names, if applicable. If you are the beneficiary to a relative’s property, you can also search their names.
File a claim.
Once you’ve found unclaimed money, you’ll need to file a claim to get it. Each state and institution has its own process. Generally, you’ll need to provide proof of identity and possibly proof of your connection to the unclaimed asset. This might include government-issued ID, Social Security number or other relevant documents.
Check Regularly.
New unclaimed properties are continually reported to state and federal databases. It’s a good idea to check back periodically.
Your unclaimed money doesn’t stop at the state level. Read
Check Other Government Databases
Did you receive savings bonds as a kid, or forget to claim a past tax refund? Try out these federal searches and you may find even more money owed to you:
Savings Bonds
For unclaimed savings bonds, missing interest and other treasury securities, check the U.S. Department of the Treasury’s Treasury Hunt.
Tax Refunds
If you might have an unclaimed tax refund, visit the IRS’s Where’s My Refund tool.
Check with Financial Institutions
When financial institutions close, there are national organizations responsible for distributing property owed to account holders. This includes money in old bank accounts, from former credit union accounts or safe deposit boxes. If this sounds like a situation you may be in, here’s how to find the unclaimed property:
Bank Accounts
For unclaimed bank accounts, check the Federal Deposit Insurance Corporation’s unclaimed funds search tool.
Credit Union Accounts
For credit union accounts, view the National Credit Union Administration’s unclaimed deposits list.
Explore Other Sources of Unclaimed Funds
Unclaimed money can come from a variety of other sources, including insurance policies, retirement accounts and unclaimed capital credits.
Retirement Accounts and Pensions
If you think you have a pension plan or other retirement benefits from a previous job that you never claimed, check the Pension Benefit Guaranty Corporation’s unclaimed retirement benefits database.
Life Insurance
Do you have any lingering policy benefits out there? Contact your old insurance company directly or check with your state’s insurance department to find unclaimed life insurance benefits.
Capital Credits
If you’ve ever been a member of a cooperative, especially an electric cooperative, you may have left behind capital credits in your name. Contact the co-op or utility directly to inquire about capital credits.
Also, if you are the beneficiary to an estate of someone who lived in an electric cooperative’s service territory, be sure to notify the utility and fill out any associated paperwork to claim these credits.
Finding unclaimed money can be a rewarding experience. By following these steps and regularly checking various databases, your unclaimed money could be just a few clicks away!
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