What is Unclaimed Property?
Unclaimed property refers to financial assets and properties that have been abandoned by their owners for various reasons. Common types of unclaimed property include:
- Forgotten bank accounts
- Uncashed checks (including payroll and dividend checks)
- Unclaimed inheritances
- Utility deposits
- Stocks, bonds, and mutual funds
- Insurance policy benefits
- Safe deposit box contents
When these assets remain unclaimed for a certain period, they are turned over to the state, which holds them until the rightful owner claims them.
Steps to Find and Claim Unclaimed Property
Finding and claiming unclaimed property is a straightforward process that can be completed online through official government websites. Follow these steps to search for and claim unclaimed assets:
Visit Your State’s Unclaimed Property Website
Start by visiting the official unclaimed property website for your state. You can find a list of state unclaimed property offices at Unclaimed.org.
When you enter the link, you must scroll down a little until you find the states. Select the one that belongs to you:
Enter Your Information
You’ll need to provide personal details to search for unclaimed property. This typically includes:
- Your full name
- Current and past addresses
- Social Security number (in some cases)
Search for Unclaimed Property
Use the search tool to find any unclaimed property associated with your name or other identifying details. Results will show any matches.
Review Search Results
Review the results to identify any assets that may belong to you. Look for familiar addresses or company names.
Submit a Claim Form
If you find property that belongs to you, the next step is to submit a claim form. This form can typically be found on the state’s unclaimed property website.
Provide Required Documentation
You will need to provide additional documentation to verify your claim. This may include:
- Proof of identity (e.g., driver’s license, passport)
- Proof of address (e.g., utility bill, lease agreement)
- Social Security number (if required)
- Documentation proving ownership (e.g., original financial statements, death certificate for inheritances)
Submit Your Claim
Once you have completed the claim form and gathered the necessary documentation, submit your claim as instructed on the website. This can often be done online or by mail.
Wait for Processing
After submitting your claim, the state’s unclaimed property office will process it. This can take several weeks to several months. They may contact you for additional information if needed.
Check Federal Databases
Expand your search to federal databases for assets like pensions, tax refunds, or savings bonds. Visit sites like the Treasury Hunt for unclaimed savings bonds and the Pension Benefit Guaranty Corporation for unclaimed pensions.
Explore Additional Resources
Consider checking other sources like the Missing Money website, which aggregates data from multiple states and federal agencies.
Tips for a Smooth Claiming Process
To ensure a smooth and successful claim process, keep the following tips in mind:
- Double-Check Information: Ensure that the information you provide matches the details on the unclaimed property records.
- Search Variations: Try different variations of your name, including middle names, initials, and maiden names.
- Check Multiple States: If you’ve lived in different states, check each state’s unclaimed property website.
- Search Regularly: Conduct regular searches as new unclaimed property is added to databases periodically.
- Keep Copies: Keep copies of all forms and documentation you submit for your records.
- Follow Up: If you don’t hear back within the expected time frame, follow up with the state’s unclaimed property office.
- Stay Informed: Keep an eye on your email or mail for any communication from the unclaimed property office.
- Keep Records: Maintain records of your search and claims process, including any correspondence with state agencies.
Beware of Scams
It’s essential to be aware of scams during the unclaimed property claim process. Here’s how to protect yourself:
- Use Official Websites: Only use official state or federal websites or trusted sources like Unclaimed.org to search for and claim unclaimed property.
- Avoid Fees: Never pay a fee to claim your property. Legitimate state offices do not charge for claiming unclaimed property.
- Ignore Unsolicited Offers: Be cautious of unsolicited emails, phone calls, or letters offering assistance with claiming unclaimed property.