You might think you have a handle on your finances.
But did you know that currently, state treasuries across the US are holding over $80 Billion in unclaimed cash and assets waiting for their rightful owners?
According to NAUPA, 1 in 7 Americans has unclaimed property.
It could be a forgotten utility deposit, an uncashed paycheck, or a life insurance payout from a deceased relative.
The best part? Checking for it takes 3 minutes and costs $0.
Disclaimer: Beware of scams. Never pay a fee to search for unclaimed property. While the principal amount is tax-free, any interest paid by the state may be taxable.
Is the Government Holding Your Money?
1. What Is "Unclaimed Property"?
When a company owes you money (e.g., a bank, insurance company, or utility) but cannot find you—usually because you moved—they cannot just keep the cash.
By law, after a period of dormancy (usually 3-5 years), they must turn that money over to the State Treasurer.
This process is called Escheatment.
The state holds the money in a custodial trust forever until you claim it.
2. Common Sources of Lost Money
It’s not just loose change. The average claim payout often ranges from $100 to over $2,000.
- Dormant Bank Accounts: Savings accounts you forgot about in college.
- Uncashed Checks: Payroll checks, tax refunds, or dividend checks.
- Insurance Policies: Terminated policies or death benefits where the beneficiary wasn't located.
- Safe Deposit Box Contents: Jewelry or coins from abandoned boxes.
- Utility Deposits: That $200 deposit you paid to the electric company 10 years ago.
3. How to Search for FREE (The Official Way)
Do not Google "find my money" blindly. You will land on scam sites asking for a credit card.
Use these official portals:
1. MissingMoney.com (State Assets)
This is the official database endorsed by NAUPA (National Association of Unclaimed Property Administrators).
It searches most state databases at once.
- Enter your Last Name (or Business Name).
- Enter your state (or leave blank to search all).
- Review the list. If you see your name and an old address, click "Claim."
2. TreasuryHunt.gov (Federal Bonds)
Pro Tip: State websites generally do NOT show US Savings Bonds.
Billions of dollars in matured savings bonds are sitting with the US Treasury. Visit TreasuryHunt.gov to check for lost bonds.
4. The "Finder" Scam
You might get a letter or email saying:
"We found $5,000 belonging to you! Pay us $500 (10% fee) and we will tell you where it is."
IGNORE THEM.
These are legal (but predatory) "Finders." They use the same free public databases listed above.
Why pay someone 10-20% of your money when you can file the claim yourself for free in 5 minutes?
5. Don't Forget "Life Insurance"
This is the big one. Millions of dollars in life insurance benefits go unpaid because the family didn't know the policy existed.
If a relative passed away years ago, search their name in the database.
- Tip: Search using their maiden name or common misspellings.
- The Payout: These claims can be worth tens of thousands of dollars and often include interest.
Go "Treasure Hunting" Today
This is the easiest financial win you will ever get.
Even if you find nothing, check for your parents, siblings, or friends. Sending them a text saying, "Hey, I found $200 owed to you on the state website," makes you a hero.
Action Plan:
- Go to MissingMoney.com right now.
- Search your name in every state you have ever lived in.
- Visit TreasuryHunt.gov to check for lost Savings Bonds.
- If you find a match, fill out the claim form online. The state will mail you a check in a few weeks.
Helpful Resources:
MissingMoney.com (Official Multi-State Database)
Unclaimed.org (NAUPA Official Site)
TreasuryHunt.gov (US Savings Bonds)
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