You Might Be Owed Money: How to Find Unclaimed Funds in Your Name
Imagine stumbling upon an unexpected windfall—money that’s legally yours but has been sitting unclaimed for years. It might sound too good to be true, but millions of Americans have forgotten savings accounts, uncashed checks, utility deposits, and even insurance payouts waiting to be claimed.
According to the National Association of Unclaimed Property Administrators (NAUPA), states return more than $3 billion every year, yet billions more remain untouched.
If you’ve ever moved, changed jobs, or opened a financial account you later forgot about, you could have unclaimed money waiting for you. Here’s how to track it down and finally reclaim what’s yours.
What Are Unclaimed Funds?
Unclaimed funds typically refer to financial assets that have been abandoned or forgotten by their rightful owners. This can happen for various reasons, such as a move without updating your address, overlooked final paychecks, or a bank account you lost track of.
Common sources of unclaimed funds
- Forgotten savings or checking accounts
- Uncashed payroll or refund checks
- Utility security deposits
- Insurance claim payments
- Stocks, dividends, or bond interest
- Safe deposit box contents
- Escrow accounts or mortgage refunds
Why Money Goes Unclaimed
Companies are required by law to turn over dormant accounts and uncashed checks to state treasuries after a certain period, known as the dormancy period. Once turned over, the money is held by the state until the rightful owner steps forward to claim it.
Many people remain unaware simply because they don’t know where to look.
How to Search for Unclaimed Funds
Thankfully, finding out if you’re owed money is easier than ever thanks to online databases and state-run programs. Here’s a step-by-step guide to help you get started.