Could Unclaimed Money Be Yours?
Thanks to the Internet, a windfall could be a few clicks away. Here's how.


More than $40 billion in unclaimed cash & property waits to be returned. At first glance, that figure seems staggering, unbelievable — and, yet, it is true. To be more exact, the National Association of Unclaimed Property Administrators (NAUPA), a coalition of state unclaimed property programs, puts the total at $41.7 billion.
How do you find out if some of this money is rightfully yours? First, you can either go to missingmoney.com (a NAUPA website), or the website of your state’s unclaimed property program. A search should let you know the answer. Aside from searching in the state where you currently reside, you can also search for unclaimed assets in states where you previously worked or lived.
In all 50 states, financial institutions and insurers must escheat (i.e., hand over) account assets to the state if the owner has failed to contact the institution or insurer for a year or longer. The onus is then on the state’s unclaimed property department to find the owner, or at least make public that such assets are waiting to be claimed. How long does an original owner or an heir have to claim the forgotten assets? Usually, there is no statute of limitations.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
All kinds of assets are held by these state programs — payroll and dividend checks that were never cashed, death benefits from life insurance policies, distributions from trusts and, of course, stock certificates and property that once occupied safe-deposit boxes.
This is just at the state level. More unclaimed money awaits at the federal level; although, no convenient central database exists to find it. (Unclaimed.org, another NAUPA site, is a good place to start.) In March 2016, the Internal Revenue Service announced that this year’s tax deadline is also the deadline for Americans to claim almost $1 billion in federal income tax refunds from the year 2012. (Next April will represent the last chance to claim 2013 refunds.) Beyond what the IRS has, federal coffers contain unredeemed U.S. savings bonds, checking and savings account deposits from failed banks and credit unions, refunds on FHA-insured home loans and unremembered pension money.
Life insurance payouts of $7.4 billion also remain to be collected nationwide, according to the Florida Office of Insurance Regulation, which recently issued a report on the subject. Some policies are simply forgotten, and some heirs have never learned that they are beneficiaries.
In 15 states, you can hunt for lost life insurance policies through free, online search engines: Alabama, Kansas, Louisiana, Massachusetts, Missouri, New Hampshire, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Tennessee, Texas and Vermont. A search at missingmoney.com may also help. Another option is to try the MIB Group Inc., which maintains a policy locator service. For $75, it will search applications made to more than 400 North American insurers during the past 20 years.
How do you claim these assets? It varies, depending on whether you are an heir/beneficiary or an original owner. The process is usually straightforward; though, not always swift.
If you are the original owner, you can almost always submit a claim form through the relevant website or by mail. The unclaimed property program will almost certainly want your current address and your Social Security number, and it may request more than that.
If you are an heir or a named beneficiary of the policy or asset, then you can file a claim identifying yourself as such. The unclaimed property program will probably ask you for the full name and Social Security number of the original owner and a death certificate copy certifying his or her passing. It also may want you to provide proof that you are a named beneficiary.
Who knows? You might come into some money. Searching for these forgotten assets is relatively easy, thanks to the Internet, and it can literally pay off for you.
Greg O'Donnell's mission over the course of three decades has been to guide people to pursue and maintain a healthy financial life plan that accomplishes their goals.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Investment advice offered through O’Donnell Financial Services, LLC, a registered investment advisor. Securities offered through Independent Financial Group, LLC member FINRA/SIPC. Advisory assets may be custodied at TD Ameritrade. Insurance offered by Gregory C. O’Donnell, California Insurance #0B87978. Mortgage services are provided through American Pacific Mortgage Corporation licensed through the California Bureau of Real Estate #01215943 NMLS #1850. Gregory C. O’Donnell licensed by the California Bureau of Real Estate #00971579, NMLS #298004, not all applicants will qualify, rates subject to change. Know before you owe. Insurance offered by Gregory C. O’Donnell, California Insurance #0B87978. O’Donnell Financial Group, Inc. and O’Donnell Financial Services, LLC are not affiliated with Independent Financial Group, TD Ameritrade or American Pacific Mortgage Corporation.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Greg O'Donnell is the CEO and founder of O'Donnell Financial Group (www.ODonnellFinancialGroup.com). His mission over the course of three decades has been to guide people to pursue and maintain a healthy financial life plan that accomplishes their goals.
-
Do You Really Need That Wine Cellar?
Home Features Wine cellars are a popular feature in high-end houses. Will installing one in your home increase its value, or would you be better off with a cheaper solution?
-
Think a Repeal of the Estate Tax Wouldn't Affect You? Wrong
The wording of any law that repeals or otherwise changes the federal estate tax could have an impact on all of us. Here's what you need to know, courtesy of an estate planning and tax attorney.
-
I'm an Insurance Pro: How Not to Get Dumped by Your Insurance Agent
Your insurance agent or broker might show you the door if you do any of these five things. Being a good customer is about more than paying your bill on time.
-
The Four D's That Could Force You to Sell Your Business
Business owners (or their heirs) can be rushed into a sale of their company if they haven't planned for a major change in circumstances — or the four D's.
-
Do You Need Disability Insurance? Three Things to Know
Disability insurance can help replace some of your income during unexpected life events. Here are the basics, courtesy of a financial professional.
-
How to Turn Education Planning Into Retirement Planning
Nervous about investing in a 529 plan? If college doesn't pan out, the money can now be rolled over into a Roth IRA, which will grow tax-free until retirement.
-
We Took Them in After the Fire, and Now They Won't Leave
A well-meaning older couple responded to a young couple's plea for help. Now they're looking at having to evict tenants rather than simply asking houseguests to go. How could this happen?
-
Why Does Talking About Money Still Feel So Taboo in 2025?
Financial issues affect everyone, yet many people are still afraid to talk about them. The good news is that younger generations are changing that.
-
I'm an Insurance Expert: This Is How You Get the Right Insurance Coverage at the Right Price
First, you have to know what you want and ask the right questions of the right professional. This insurance pro explains exactly how to do that.
-
Four Tips for Mastering a Financial Security Mindset
This financial professional's mom helped him learn that financial security is more than making money — it's about cultivating a mindset that will help you stick to an investment plan even when times get tough.