You may have seen or heard about unclaimed funds on a talk show or news program. Oprah Winfrey devoted an entire program to unclaimed funds. Her purpose was to alert the public that every individual should check to see if they are owed money, since 90% of American adults have abandoned assets. Good Morning America, ABC, CBS, and many others have acknowledged this on their shows, but only a handful of times in the past 20 years. In our opinion, more needs to be done.
Good Morning America
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Oprah Maury Povich
American Asset Management, Inc.
What exactly is unclaimed property?
Unclaimed or “abandoned” property refers to property or accounts within financial institutions or companies—in which there has been no activity generated (or contact with the owner) regarding the property for one year or a longer period.
When does property become "unclaimed"?
After a designated period of time (called the dormancy period) with no activity or contact, the property becomes “unclaimed” and—by law—must be turned over to the state.
Types of unclaimed property
Unclaimed property can be intangible, which is the most common (ex. uncashed paychecks, stocks), or tangible (ex. safe deposit box contents). Some of the common forms of unclaimed property include:
Unclaimed or “abandoned” property refers to property or accounts within financial institutions or companies—in which there has been no activity generated (or contact with the owner) regarding the property for one year or a longer period.
When does property become "unclaimed"?
After a designated period of time (called the dormancy period) with no activity or contact, the property becomes “unclaimed” and—by law—must be turned over to the state.
Types of unclaimed property
Unclaimed property can be intangible, which is the most common (ex. uncashed paychecks, stocks), or tangible (ex. safe deposit box contents). Some of the common forms of unclaimed property include:
- Checking or savings accounts
- Stocks
- Uncashed dividends or payroll checks
- Refunds
- Traveler’s checks
- Trust distributions
- Unredeemed money orders or gift certificates (in some states)
- Certificates of deposit
- Customer overpayments
- Utility security deposits
- Mineral royalty payments
- Contents of safe deposit boxes
- Insurance payments or refunds and life insurance policies
- Annuities
In a Nutshell
What can you expect after you find unclaimed money? We've broken down the process for you, so you know how to move forward to claim your money.
Step 1: Go to the right website.When it comes to claiming unclaimed money, the process can vary by state. In other words, there’s no one-size-fits-all solution to getting your money. Even so, the first step to claiming your money is to go to the appropriate website.
The good news is that when you go to statemoney.us,, we automatically point you in the right direction. American Asset MGMT will direct you to the applicable state’s treasury or state controller’s website, which is where you typically start the claims process to get your unclaimed money back.
For example, if you select California, you’ll get referred to the California State Controller’s Office’s website where you can claim your unclaimed property.
Step 2: Get your documents in order.If you’ve found missing money in your name and want to claim it, you’ll need to verify your identity.
The requirements may vary by state, but some documents you need may include the following:
Step 3: File a claim.Once you’ve gone to the right website and have your documents ready, it’s time for the fun part: Filing a claim so you can get your missing money.
The first step is to carefully read the claim instructions on your state-specific site. Some states don’t allow for electronic submissions, whereas some allow you to file online if you meet certain conditions.
For example, residents of California can file online if the amount is less than $5,000 and they are the sole owner of the missing money. If the unclaimed money is owned by multiple parties, each owner needs to sign a Claim Affirmation Form and the money will be split among the parties.
If you can’t file online, you’ll need to mail a claim form along with additional documentation to verify your identity.
In some cases, if you’re owed more than $1,000 and can’t file online, you may need to print the claim form and get it notarized. Pro tip: Check with your bank; they may notarize it for free.
You then need to mail the form to the address specified in your state’s claim instructions.
Here’s a quick chart on how each state accepts claim forms:
What can you expect after you find unclaimed money? We've broken down the process for you, so you know how to move forward to claim your money.
Step 1: Go to the right website.When it comes to claiming unclaimed money, the process can vary by state. In other words, there’s no one-size-fits-all solution to getting your money. Even so, the first step to claiming your money is to go to the appropriate website.
The good news is that when you go to statemoney.us,, we automatically point you in the right direction. American Asset MGMT will direct you to the applicable state’s treasury or state controller’s website, which is where you typically start the claims process to get your unclaimed money back.
For example, if you select California, you’ll get referred to the California State Controller’s Office’s website where you can claim your unclaimed property.
Step 2: Get your documents in order.If you’ve found missing money in your name and want to claim it, you’ll need to verify your identity.
The requirements may vary by state, but some documents you need may include the following:
- A state-issued I.D., like a driver’s license
- Proof of Social Security number, such as a copy of your Social Security card or IRS Form W-2
- Proof of the address associated with the property you’re claiming, such as a utility bill
- Proof of your current address
Step 3: File a claim.Once you’ve gone to the right website and have your documents ready, it’s time for the fun part: Filing a claim so you can get your missing money.
The first step is to carefully read the claim instructions on your state-specific site. Some states don’t allow for electronic submissions, whereas some allow you to file online if you meet certain conditions.
For example, residents of California can file online if the amount is less than $5,000 and they are the sole owner of the missing money. If the unclaimed money is owned by multiple parties, each owner needs to sign a Claim Affirmation Form and the money will be split among the parties.
If you can’t file online, you’ll need to mail a claim form along with additional documentation to verify your identity.
In some cases, if you’re owed more than $1,000 and can’t file online, you may need to print the claim form and get it notarized. Pro tip: Check with your bank; they may notarize it for free.
You then need to mail the form to the address specified in your state’s claim instructions.
Here’s a quick chart on how each state accepts claim forms:
Step 4: Wait for your check.Once you found missing money and submitted your documentation either online or via snail mail, you must now wait for your check to arrive.
Unfortunately, this can vary widely by state. It can take two weeks from the date you filed your claim, or more than six months in some cases. Sometimes, you may not know how much you’re getting back.
Amy Oztan, writer at AmyEverAfter.com, applied for unclaimed money through New York State and got a pleasant surprise.
“The way the (New York) claims work, I didn’t actually know what we were getting until the checks arrived,” she says. “I assumed they would be very small, but we got three checks totaling almost $900!”
Oztan says the process was easy. “The claim forms asked some basic questions to prove our identities, and that was pretty much it,” she says. “About 10 days later the checks all showed up. It really couldn’t have been simpler.”
Bottom line
If you are eligible for unclaimed money, be sure to follow the instructions provided by your state and submit relevant documentation. Depending on your claim and the specific state, it may be processed in a short time — or could take a while longer.
Whatever the case may be, it will be good to get your money back from the state — and back in your pocket.
Instructions written by Josh Radcliff
Unfortunately, this can vary widely by state. It can take two weeks from the date you filed your claim, or more than six months in some cases. Sometimes, you may not know how much you’re getting back.
Amy Oztan, writer at AmyEverAfter.com, applied for unclaimed money through New York State and got a pleasant surprise.
“The way the (New York) claims work, I didn’t actually know what we were getting until the checks arrived,” she says. “I assumed they would be very small, but we got three checks totaling almost $900!”
Oztan says the process was easy. “The claim forms asked some basic questions to prove our identities, and that was pretty much it,” she says. “About 10 days later the checks all showed up. It really couldn’t have been simpler.”
Bottom line
If you are eligible for unclaimed money, be sure to follow the instructions provided by your state and submit relevant documentation. Depending on your claim and the specific state, it may be processed in a short time — or could take a while longer.
Whatever the case may be, it will be good to get your money back from the state — and back in your pocket.
Instructions written by Josh Radcliff
American Asset Mgmt
States return billions of dollars worth of unclaimed property every year. Unclaimed property generally consists of unclaimed money in financial and bank accounts that have sat dormant for more than a year. Ask us to check if you have any unclaimed property and how to claim it.