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Did you know that 1 in 10 Americans have unclaimed money that they can claim?

Billions of dollars in unclaimed property sit in state databases each year, waiting for the owners to claim them. From forgotten bank accounts to uncashed tax refunds, many individuals and businesses don't know that money is owed to them.

The National Association of Unclaimed Property Administrators (NAUPA) manages the official Unclaimed.org website, where anyone can search for and claim their lost assets.

In this guide, we’ll show you:

✅ What unclaimed property is and why it exists

✅ How to search for and claim your unclaimed money

✅ How businesses can avoid losing track of assets

✅ How to prevent your money from becoming unclaimed

Let’s dive in! 🚀

What Is Unclaimed Property?

Unclaimed property is money or financial assets that have been abandoned by their owners for a period of time (usually 1-5 years). After there is a lack of contact between the owner and the holder of the funds, the assets are transferred to the state government.

Some Examples of Unclaimed Property:

1. Abandoned bank accounts
2. Uncashed tax refunds, payroll checks, and insurance settlements
3. Stocks, bonds, and dividends
4. Unredeemed gift cards and traveler's checks
5. Safe deposit box contents

Each U.S. state holds these funds forever until they are claimed. Your money, then, won't be lost—but you need to take action to get it back!

How Big Is the Unclaimed Money Problem?

The numbers are astounding:

1. $4.49 billion was returned to owners in FY 2024 (NAUPA Report).
2. The average claim is $2,080, and the median claim is $100 (NAUPA Report).
3. Illinois alone has returned $2.2 billion in unclaimed property in recent years (Illinois.gov).

Even so, billions of dollars go unclaimed each year—which makes checking every now and then a potential windfall payday.

How to Search for Unclaimed Property

It doesn't cost anything to search for unclaimed property and takes only a few minutes.

Step-by-Step Guide to Searching for Unclaimed Money:

• Step 1: Visit Unclaimed.org. This is the official unclaimed property website run by NAUPA.
• Step 2: Select Your State. Each U.S. state has its own database, so select the state where you live or have lived previously.
• Step 3: Enter Your Name or Business Name. Search with your full legal name (or maiden name) for accurate results. If you're a business owner, search by the registered name of your company.
• Step 4: Review the Search Results. If you find a match, click on the link to the state's claims site.
• Step 5: Make Your Claim. You'll need to provide proof of identity (such as a driver's license) and proof of ownership (such as an old bank statement).
• Step 6: Wait for Processing (2-12 weeks). Processing time varies by state, but most claims are processed within 2-12 weeks.

Checking Multiple States

If you've lived in multiple states, make sure to repeat the search for all states where you might have had financial accounts, worked, or invested.

Another option is MissingMoney.com, which allows you to search multiple states at once.

Tip: If possible, include a screenshot of an actual search result to walk users through!

Why Do People Lose Their Money?

There are several reasons why money becomes unclaimed:

Moving Without Changing Your Address – Old bank accounts or tax refunds can be lost if your contact information isn't up to date.

Name Changes Because of Marriage/Divorce – Unclaimed cash can be in an old name.

Forgetting Inactive Accounts – Banks and investment accounts become inactive over time.

Uncashed Checks – Paychecks, insurance settlements, or utility refunds that were never cashed typically end up in state unclaimed property programs.

How Businesses Can Avoid Losing Assets

There are also unclaimed property laws for businesses. Businesses must adhere to escheatment laws, meaning businesses must turn over unclaimed funds to the state after a period of time.

Key Business Considerations

Payroll Requirements – Unclaimed wages must be reported and remitted.

Vendor Payments – If a company issues a check that is not cashed, it can become unclaimed property.

Customer Refunds – Past-due refunds that are not claimed can also be turned over to the state.

Maintaining good financial records can avoid compliance problems and subsequent penalties.

How to Keep Your Property from Being Unclaimed

✔ Update Your Contact Information – Make banks, employers, and insurance companies aware of your current contact information.
✔ Cash Checks Promptly – Do not allow payroll or tax refund checks to languish.
✔ Monitor Your Financial Accounts – Sign in to bank, investment, and retirement accounts regularly.
✔ Keep Records of Insurance Policies & Pensions – Let beneficiaries know about your assets.
✔ Set Up Direct Deposit – Reduces the risk of lost checks.

Conclusion: Don't Leave Money on the Table

With billions of dollars in unclaimed money sitting in state databases, taking a few minutes to check Unclaimed.org could be well worth your time.

Action Step: Search for your name right now—you might have money waiting for you!

Related Read: If you’re interested in other financial databases, check out our guide on how to use the EIN database for business lookups.

If you're looking specifically for lost 401(k)s, pensions, or other retirement accounts, see our in-depth guide to finding and claiming unclaimed retirement benefits for step-by-step instructions."

References

1. National Association of Unclaimed Property Administrators Fiscal Year 2024 Annual Report
2. Illinois State Treasurer’s Office Press Release