Unclaimed money is an unclaimed property consisting of money or other financial assets that remain unclaimed by their rightful owner for a specific period. There are many sources of unclaimed money floating around waiting for owners. You may be surprised to learn how much money is available and how easy it is to claim it. There are various familiar sources of unclaimed money, including the following:

1. The Securities and Exchange Commission (SEC)

The SEC holds an extensive database of unclaimed money from failed investments, undelivered stock dividends, and other dormant accounts. It protects investors from fraud and ensures that they receive the money that is rightfully theirs. SEC receives the money when an investment firm or company goes out of business, cannot locate the owner, or is unable to return the money to the rightful owner.

You can search the SEC's unclaimed money database by visiting their website and entering your name or other relevant information. Security Class Action Clearinghouse is also a reliable website that provides a searchable database of unclaimed money from securities class action settlements.

2. The Federal Deposit Insurance Corporation (FDIC) )

The FDIC is a government agency that protects depositors in banks and credit unions from losing their money if the institution fails. The FDIC holds unclaimed money from closed banks and credit unions. You can check to see if the FDIC is holding any unclaimed money for you by visiting their website and following the instructions for searching their database. Family members can search on behalf of deceased relatives.

3. National Registry of Unclaimed Retirement Benefits)

If you've ever changed jobs, there's a good chance you have unclaimed retirement benefits waiting for you. When you leave a job for another, your employer should transfer your retirement savings to your new employer or roll it over into an IRA. However, sometimes this doesn't happen, and the money is left unclaimed. Also, people forget to follow up on the money left in an old 401(K) retirement account after upgrading to a new 401(K) account. You can search for unclaimed retirement benefits by visiting the National Registry of Unclaimed Retirement Benefits website.

4. The Pension Benefit Guaranty Corporation (PBGC) )

The PBGC is a government agency that insures private pensions. If a pension plan fails, the PBGC helps employees receive their benefits. You can check if the PBGC is holding any unclaimed money for you by visiting their website and searching by company name, state, and employee name.

5.Life Insurance Companies)

If you have a life insurance policy that has lapsed or been canceled, the company should hold onto the money for a certain period incase you decide to reinstate the policy. If you don't reinstate the policy, the money becomes unclaimed. Insurance companies transfer the money after seven years of inactivity to the state of insurance registration. Most online databases could help you search for inactive insurance policies. You can search for any unclaimed life insurance policy money by visiting the website of the National Association of Insurance Commissioners and using their Life Insurance Policy Locator tool.

6. The IRS)

If you've overpaid your taxes or if the IRS owes you a refund and they can't locate you, the money becomes unclaimed. Most people change email addresses and phone numbers over time, so it's not surprising that the IRS can't find many taxpayers. It's advisable to file an income tax return even if you don't think you owe any taxes to ensure that you receive any refund that may be due to you.

7. State Treasuries)

Many states have unclaimed money from forgotten bank accounts, uncashed checks, and other inactive accounts. The police department has unclaimed money from found property and safe deposit box contents. Additionally, utility companies hold unclaimed money from customers who have overpaid their bills or are owed a refund. You can search for any unclaimed state money from the website of the National Association of Unclaimed Property Administrators.

8.International Sources)

Several international organizations continue holding unclaimed money for you. For example, if you've ever had an account with a bank in Switzerland, you may be able to search for any unclaimed money you're owed on the Swiss Bankers Association website. On the other hand, if you're a U.S. citizen with unclaimed money in a foreign bank, you can search for that money on the Treasury Department's website.

It's worth taking the time to search for any unclaimed money belonging to you. However, beware of any companies that claim they can help you search for unclaimed money for a fee. These companies are unnecessary because you can do all the searching yourself free.