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How to Find Your Unclaimed Money: A Simple Guide

It’s a little-known fact that billions of dollars in unclaimed money are sitting in various accounts across the United States, just waiting for their rightful owners to claim them. And no, this isn’t the plot of a heist movie. This money could belong to you, stashed away in forgotten bank accounts, uncashed checks, or even unused utility deposits. This article will guide you through the process of finding and claiming your lost financial assets, because who couldn’t use a little extra cash?

The Basic Steps

Gather Personal Information

Before embarking on this treasure hunt, arm yourself with essential details like your social security number, last name, and any maiden name or additional information that might be connected to financial assets. Having these details readily available will speed up the search process and increase your chances of successful identification.

Deep Dive

Don’t just stop at the basics; delve into your own records as well. Look for old bank account numbers, addresses where you’ve lived, and names of former employers. These pieces of information are often linked to unclaimed assets like security deposits, uncashed paychecks, or insurance policies you might have forgotten about.

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The Michigan Treasury Department (for example) is holding onto a ton of lost or forgotten money and stuff. This includes money from old bank accounts, checks nobody cashed, items from safe deposit boxes, and even stock certificates. Since banks and companies couldn’t find the owners, the law says they have to give all these unclaimed things to the state. Each state has its own way for you to check if relatives have left behind any unclaimed money. Let’s use Michigan as an example.

Step 1

Look for the place where your relative lived and search “unclaimed money” along with the state’s name on Google. Here’s what I found when I did that.

Or if you lived in Ohio, you would click here.

Step 2

You’ll need to enter some details about the person, like their name, business, city, and zip code. Once you do that, any available unclaimed money should appear. 

Step 3

From here you can click on claim if your state allows the search to be online. If not, you can request any paperwork. Once you make a claim you have to be able to prove that you are a relative.

Reclaiming your property

Types of unclaimed property can range from cash in old bank accounts, uncashed checks, and utility or security deposits, to stock certificates, insurance policies, and even safe deposit box contents. Essentially, if a financial institution, company, or government agency owes you money and can’t get it to you, it eventually becomes “unclaimed” and is handed over to the state or federal government to hold until you claim it. If the person is deceased obviously they can’t claim it so it goes to the nearest relative. 

Confirmation Email

After you submit a claim, you’ll likely receive a confirmation email that has more steps to follow. For example, when I filed a claim, I got an email that included a link where I could upload all the documents that prove my identity.

What's Next?

The time it takes to hear back can vary by state and it might take a few months. If they need more info, they’ll reach out to you. Double-check your address to make sure it’s correct so you get your check. You might also have to mail in some papers or get them officially signed by a notary.

The Proof You Need

To prove you’re eligible to receive unclaimed money, you’ll generally need a mix of identification and proof of connection to the account or asset. Here’s a handy list for you:

  • Proof of Identity: This could be a government-issued ID like a driver’s license, passport, or Social Security card.

  • Proof of Address: You might need utility bills, bank statements, or even a lease agreement to show that you lived at the address connected to the unclaimed money.

  • Social Security Number: Often, you’ll need to provide your Social Security Number as an additional form of identification.

  • Legal Documents: If the unclaimed money is from an inheritance, wills, death certificates, or letters of administration may be required.

  • Relationship Proof: If you’re claiming on behalf of a relative, you might need birth or marriage certificates to prove your relationship.

  • Tax Documents: Sometimes, you may need to present tax records as part of the claim process.

  • Additional Information: Old bank account numbers, employee IDs from former employers, or insurance policy numbers related to the unclaimed money can strengthen your claim.

  • Notarized Claim Forms: Some states require the claim form to be notarized, essentially getting an official stamp that verifies your identity.

Remember, each state or organization might have its own set of rules, so always check the specific requirements where you’re claiming the money. It’s a bit like a scavenger hunt, but the prize at the end could be your own long-lost treasure!

Go National - Government Agencies

For a more expansive search, consult federal agencies. These include the Federal Deposit Insurance Corporation for bank accounts, the Department of Labor for unpaid wages, and even the National Association of Unclaimed Property Administrators for various types of unclaimed funds like mutual funds and savings bonds.

Dig Deeper - Specialized Searches

Don’t limit yourself to cash; unclaimed assets can also include insurance policies from insurance companies, security deposits, and even tangible property. Visit official government websites like .gov or .org sites, and be wary of providing sensitive information to unofficial sites.

Utilize Searchable Databases

Both state and federal government websites offer searchable databases where you can enter your personal information and view search results. If a financial asset belonging to you is found, you’ll often need to provide a death certificate, tax refunds, or other records to claim it.

Don't Fall for Scams

Watch out for locator services asking for money to find your unclaimed cash. Always use secure, official government websites. Confirm they’re legit before sharing any sensitive info. I came across some sketchy sites asking for fees—avoid those! If you’re unsure about a site, give your local agency a call to double-check.

Claim Your Treasure

Once you’ve identified your unclaimed money, follow the state or federal guidelines to claim it. This often involves filling out a form and proving your relationship to the original owner, which could be you or a family member.

Wrapping Up on Unclaimed Money

You probably won’t strike it rich finding unclaimed money, but hey, it’s worth a look. You might stumble upon some extra cash you never knew about! First, arm yourself with your personal info. Then kick off your treasure hunt at your state’s unclaimed property office before moving on to national databases. Stick to secure, official sites and guard your sensitive info like a treasure chest. Your hidden loot could be just a few clicks away!

15 thoughts on “How to Find Your Unclaimed Money: A Simple Guide”

  1. Great article, I have done this every year for about 10 years and three times I had unclaimed money. The highest amount was $1400!

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