What Is Unclaimed Money in California?
These consist of the remaining balances in your bank accounts, pending checks, traveler checks, stocks, bonds, refunds, life insurance, and other government benefits. These financial instruments’ dormancy times differ. Escheatment is the legal term for the temporary seizure of property by the state or a licensed company.
Businesses, financial institutions, insurance companies, and other organizations that manage financial assets are required by California’s Unclaimed Property Law to report unclaimed money to the state controller’s office. In response, the state agency compiles a list of unclaimed funds on behalf of the government and makes it accessible to the general public online and at open forums held throughout the state.
How To Find Unclaimed Money in California
Unclaimed money in California is listed in a publicly searchable database that is kept by the California State Controller’s Office. The public can use their full names or the names of their companies to search this official list of unclaimed money for unclaimed money. The website has a function that allows owners to use unclaimed money to claim it online in addition to finding unclaimed money. Alternatively, anyone who has unclaimed money can get in touch with the State Controller’s Office once during business hours by phone at:
- Division of Unclaimed Property
- White Rock Road, Suite 141, 10600
- 95670 Rancho Cordova, California
- Phone: (800) 992-4647 (Nationwide)
- Phone: (916) 323-2827 (Outside the U.S.)
In the United States, unclaimed funds are accessible to everyone through official and non-governmental agencies. Unclaimed money search engines run by third parties are simple to use and offer quick results that are not restricted by location. Users can often use just their full name or business name to search for unclaimed money on third-party search websites. However, because these websites are not supported by the government, the results’ accessibility and reliability may vary.
Unpaid Salaries and Back Wages
On the Wages and Hours, Division’s unclaimed money database is unclaimed back wages and salaries that have been collected by the division from private companies. Interested parties may also make an appointment to visit the division’s local office in California by calling (866) 487-9243.
Private Sector Pension Unpaid
People who work for private corporations in the U.S. can utilize the self-help manual and unclaimed pensions database maintained by the Pension Benefit Guaranty Corporation (PBGC) to locate unclaimed pensions in 401k accounts or other private pension plans. Alternative contact information for the PBGC is:
- Corporation for Pension Benefit Guaranty
- NW 1200 K Street
- 20005-4026 Washington, DC
- Phone: (800) 326-5678
Veterans’ Life Insurance Funds That Are Unclaimed
The veterans’ life insurance fund was established by the Department of Veterans Affairs (V.A.) to provide current and past service members, as well as their relatives, with financial security. After service, if a veteran is injured, becomes disabled, passes away, or is unable to work, they will receive regular checks from this fund. These cheques frequently remain uncashed, and the V.A. records them as unclaimed funds. Anyone with questions can check the V.A.’s unclaimed funds database or get in touch with the organization directly.
- Agency for Veterans’ Services
- N.W. 810 Vermont Avenue
- 20420 Washington, DC
- regional business directory
- Phone: (800) 827-1000
Refunds of unclaimed federal taxes
For many Californians, overpaying federal taxes is a common occurrence. The IRS gives the taxpayer a refund of any remaining monies after deducting the tax debt from the amount paid. The taxpayer can also make a claim for free using this database. The taxpayer may also call the IRS hotline at (800) 829-1040 or go to the nearest IRS office in California.
Unused credit union deposits
Additionally, the organization has a database that recipients can check and use to validate and handle payments for unclaimed credit union contributions. You could also ask the organization directly for assistance.
- Administration for National Credit Unions
- Suite 5100 at 4807 Spicewood Springs Road
- 78759 Austin, Texas
- Phone: (512) 231-7900
- Fax: (512) 231-7920
- Email address: amacmail@ncua.gov
Unclaimed funds from harmed investors
Fraud proceeds that the U.S. Securities and Exchange Commission seized finally go to compensate injured investors. Investors with concerns who have fallen victim to securities fraud can look for unclaimed money in the U.S. Securities and Exchange Commission database. You could also call the SEC helpline or go to the regional office.
- Securities and Exchange Commission of the U.S.
- NE 100 F Street
- 20549 Washington, DC
- offices directory for regions
- Phone: (202) 551-6551
Funds from unclaimed bankruptcy
The official then informs the involved creditors and compensates the creditors who provide proof of claim. Additionally, the court makes information regarding unclaimed funds available on the unclaimed fund’s locator. The creditor and their appointed agents may also get in touch with the court at:
- American bankruptcy courts
- Office of Court Administration of the United States
- N.E. One Columbus Circle
- 20544 Washington, DC
Refunds for unclaimed mortgages
The Department of Housing and Urban Development’s unclaimed money database allows California homeowners with FHA-insured mortgages to search for and retrieve monies from canceled premium and distributive share payments. In order to claim the funds, eligible homeowners and their legal representatives can also get in touch with the organization directly.
- 451 SW 7th Street
- 20410 Washington, DC
- Phone: (800) 697-6967
- Email address: sf.premiums@hud.gov.
Expired Money in Another Country
Compensation is frequently available to U.S. citizens and relatives of U.S. citizens who experienced physical harm, financial loss, or property damage as a result of U.S. military actions abroad. Affected parties and surviving families can register a claim by searching the Foreign Claims Settlement Commission database or by contacting the organization directly.
- Commission for the Settlement of Foreign Claims
- Room 6330 at 441 G Street, N.W.
- 20579 Washington, DC
- contact info.FCSC@usdoj.gov
How to File a Claim for California Unclaimed Funds
There are two choices available to those who find their unclaimed money in the State Controller’s Office database. Immediate family members and legal agents who are not the original owner of the unclaimed property must submit a paper claim. The claim option is available to the original owners of unclaimed money. Instructions for filing a claim are available on the state agency’s website.
Individuals who are not the actual proprietors of unclaimed funds in California must submit paper claims. After the person “checks out” the products in the online shopping basket, the process also starts online. The system will give the third-party claimant guidance on how to make a paper claim rather than moving forward with a claim. This procedure entails downloading, filling out papers and affidavits by the claimant, and attaching the necessary records.
Depending on the kind of unclaimed money, a list of admissible documents is provided on pages 3 through 7 of the paper rules. The applicant must submit next mail the application packet to the State Controller’s Office while enclosing it in a self-addressed, stamped envelope.
- Office of State Controller
- Division of Unclaimed Property
- P.O. Box 942850
- 94250-5873 Sacramento, California
- Phone: (916) 464-6284