Did you know February 1st is National Unclaimed Property Day? It’s the perfect opportunity to check if you have money or property sitting unclaimed.
According to the National Association of Unclaimed Property Administrators (NAUPA), 1 in 7 Americans has unclaimed property, with over $49 billion waiting to be claimed nationwide.
What Is Unclaimed Property?
Unclaimed property includes financial assets that have been abandoned by their rightful owners. This could be:
- Uncashed checks or payroll deposits
- Forgotten savings or checking accounts
- Insurance policy payouts
- Utility refunds or security deposits
- Stocks, bonds, or dividends
- Safe deposit box contents
Assets typically become “unclaimed” after a certain period of inactivity, during which the financial institution or company cannot reach you.
Why You Should Take Action
Managing life transitions—like changing jobs, changing names, or handling military moves—can lead to overlooked accounts or assets. Whether you’ve switched careers, moved to a new duty station, or closed old accounts during a personal transition, it’s easy to lose track of what’s yours.
How to Check for Unclaimed Property
The good news? Checking is easy, free, and could be financially rewarding! Here’s how:
- Visit NAUPA’s website: Go to unclaimed.org, the official database of unclaimed property administrators.
- Search for your name: Enter your name, city, and state to see if any assets are listed under your profile.
- Claim your property: Follow the state’s instructions to claim your funds or property, which may include submitting proof of identity.
- Search again: Be sure to look around at other states you’ve lived in, check for your family members (yes, even your kids and parents), and don’t forget your maiden name!
Did You Know?
- The average claim amount is $1,000, but it can range from a few dollars to millions!
- States return billions annually—$3 billion was returned to rightful owners in the last year alone.
- Funds are held indefinitely, so even if it’s been decades, it’s still worth checking.
Success Stories:
One veteran discovered $12,000 in a forgotten savings account after relocating multiple times. A widow uncovered $5,000 in unclaimed life insurance payouts she didn’t realize were due to her. Every year I post this online, and someone writes back to me with a success story!
Could Your Name Be on the List?
This National Unclaimed Property Day, take a few minutes to search—you might find unexpected money to put toward your financial goals!
Let me know if you find anything exciting—I’d love to celebrate your discovery with you!