How to Find Unclaimed Assets

Unclaimed assets are money and other tangible property that has not been claimed by the owner. These assets include securities, coins, currency, stamps, and even historical items. These items are usually held by state agencies, and unclaimed money is deposited into the state school fund to pay for public education. While unclaimed property is a huge burden on the government, citizens have the right to claim any of their unclaimed items at any time. As long as they follow the proper procedures, they can keep their unclaimed assets out of the hands of the government.

The laws governing unclaimed property are complex. The unclaimed property departments of every state, the District of Columbia, and the US Virgin Islands have become increasingly scrutinized by the government. Increasing regulatory compliance standards and increased audits are causing many organizations to struggle to stay in compliance. Proactively searching for unclaimed property is expensive and time-consuming. It can be difficult to know which assets are actually yours until you actually locate them.

The government holds tens of billions of dollars in unclaimed assets. These assets include bank accounts, insurance policies, matured Treasury savings bonds, and even jewelry. And these assets keep growing faster than the states can find their owners. As a result, it is essential to find these unclaimed assets. So how do you go about finding unclaimed assets? Fortunately, there are many ways to track down unclaimed assets. A website is available that will help you find your lost treasure.

While there are no federally-created databases for finding unclaimed government assets, there are ways to find them. First, determine what type of unclaimed payment you are seeking. If it's a tax refund, it's best to contact the federal agency responsible for certifying those payments. To find the agency that certifies your payments, consult the United States Government Manual, which lists the titles of federal agencies. It's available for free at most public libraries.

The State Controller's Office has received many inquiries related to generic postcards that claim to be able to find unclaimed property. Regardless of whether they were mailed by the government, the controller's office recommends that you do not call unknown numbers. Some people have also reported receiving official-looking letters or emails with instructions to pay upfront fees. However, these are scams. Unclaimed property is your right to access it, free of charge.

While the government is prohibited from contacting unclaimed property owners by phone, some unscrupulous people try to exploit the situation by pretending to be officials of state agencies. The truth is that most government agencies do not contact unclaimed property owners through the telephone, and scam artists may use this opportunity to defraud you of thousands of dollars. A phony NAUPA letter might even contain false information about your unclaimed assets. The best way to protect yourself from these scams is to keep yourself informed about the proper agencies for verifying the funds you've lost.

Some unclaimed property notification companies may ask you to send money in exchange for the funds. While some of these companies may not require you to pay to claim your unclaimed property, others may ask you to send money. Make sure the company is legitimate because they are paid by the holding company to find people with unclaimed property. So, do your research and stay safe. You never know when a potential recipient may be holding a hidden treasure. While unclaimed property is often difficult to trace, it is worth the effort.