Photo: NATNN (Shutterstock)
You should never leave money on the table that’s rightfully yours, but in the case of unclaimed property—funds or assets owed to you by companies or financial institutions—you may not even know what you’re missing.
Simply put, unclaimed property includes money (security deposit refunds, insurance payouts, and uncashed payroll checks, for example) as well as physical items like safe deposit box contents that are abandoned for an extended period of time. Businesses are supposed to try to contact you if you have unclaimed assets, but after a so-called “dormancy period,” unclaimed property is turned over to the state—which makes it easier for you to find and reclaim what belongs to you.
States have official unclaimed property websites where you can enter some basic information (often just your name) and search for abandoned assets to reclaim. Here’s how to find out if your state owes you.
How to find (and get back) unclaimed property
Go to unclaimed.org, the official website for the National Association of Unclaimed Property Administrators. Scroll down to the “Select your state or province” button or click on your state on the map to go to your state’s official unclaimed property site. This includes DC, Guam, Puerto Rico, and the U.S. Virgin Islands, as well as Canadian provinces.Each state database is a little bit different, but you’ll see an option to search for unclaimed property. Again, depending on your state, you may have to enter your last name or business name as well as a first name, city, or other identifying information, which may not be required but could help you narrow your results.
Scroll through the results to see if any of the listed property belongs to you. Some states will list the amount owed and the name of the company or institution, which also may help you separate your unclaimed funds from someone else’s.
From there, steps to file a claim will vary. You may have to select the listed property and your relationship to the claimant (whether it’s you or your business or an heir) and send the claim to a shopping cart, where you’ll enter more personal information to finalize your request. Some states may require you to create an account to begin the claims process.
G/O Media may get a commission
Note that you can’t simply claim random people’s property and expect a check to show up in your mailbox. You’ll have to verify your identity and provide documents like a Social Security card and photo ID to complete your claim. Expect the process to take a while, too—this probably isn’t a quick fix for overdue bills or your upcoming rent check.
[h/t CNET]
