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You can search for unclaimed property for free through your state’s official program or through MissingMoney.com, which lets you search many states at once. Claiming it is also free. State programs returned about $4.49 billion to owners in fiscal year 2024, according to figures from the National Association of Unclaimed Property Administrators, or NAUPA.
Key facts about unclaimed property
| Item | Detail |
|---|---|
| Cost to search | Free |
| Cost to claim through a state program | Free |
| Returned to owners in fiscal 2024 | About $4.49 billion |
| Multi-state search tool | MissingMoney.com |
| Who holds the money | Your state of last known address |
What counts as unclaimed property
Unclaimed property is money or assets that a business holds for you and cannot deliver. A Doeren Mayhew summary lists common types. They include dormant checking and savings accounts, uncashed payroll, dividend and refund checks, and utility deposits. They also include stocks, bonds and mutual fund accounts, insurance proceeds, trust distributions, customer credits and safe deposit box contents.
How property ends up with the state
Banks, insurers, utilities and employers lose touch with owners of inactive accounts. After a dormancy period set by state law, the business must try to find the owner. If it fails, it turns the property over to the owner’s state of last known address. The state acts as custodian until the owner or an heir claims it.
The length of the dormancy period depends on the state and the type of property. Check your state’s rules for the exact number.
How to search for unclaimed property
NAUPA says each state offers a free online search of its own database. Most states also take part in MissingMoney.com, a national tool that searches many states at once at no cost. The search takes a few minutes.
A good plan is to search every state where you have lived or worked. Search under your name and any former names. Also search for relatives who have died, since their estates may hold property that an heir can claim. States report new property every year, so repeat the search from time to time. Keep a short list of each state, each name searched and the date. That list saves time on the next round of unclaimed property searches.
Watch for fees and scams
Searching and claiming through an official state program is free. NAUPA says a message that asks for a fee may come from a third-party finder or locator. If you are unsure about a message, contact your state’s official unclaimed property program directly. NAUPA’s site links to a directory of every state program.
Messages about possible unclaimed property can also be scams. Do not give out personal details through a link in an unexpected email or text. Find your state’s program yourself and start the search there.
How states find owners
States do not wait for people to search. NAUPA says they may cross-check public databases to find owners. They also send mail to homes and workplaces. Some run newspaper ads, television events and outreach booths at fairs, festivals and malls. NAUPA says each state chooses the methods it thinks work best.
What to do if you find a match
Each state sets its own claim steps and the documents it needs. The state office that holds the property can answer questions about a specific claim. The sources cited here do not list the steps, so follow the instructions on your state’s site.
When the money arrives, decide where it goes. A small amount can go into an emergency fund or toward a bill. The Jolt Journal’s guide on how to make a budget in one evening shows how to assign found money. Its report on savings rates after the Fed hike lists where cash earns the most.
