Unclaimed Money

Ever dream of finding free money – a pot of gold?

There might not be a pot of gold, but there might be some money with your name on it just waiting for you. Sounds too good to be true, but it’s not. It is called unclaimed property – such things as dormant bank accounts, old retirement accounts, unclaimed refunds, safe deposit box contents, stocks, mutual funds, bonds, dividends, uncashed checks and wages, insurance policies, CD’s, trust funds, utility deposits, escrow accounts, etc. Such unclaimed property reverts back to your state, which then tries to find the rightful owner. You have to fill in an easy online form, and who knows, you might be lucky. An acquaintance of mine tried it and found out that he had an old retirement fund that was worth $1,500. He had forgotten about the fund, but was able to recover the money – a nice little windfall.

Here’s where you go: www.missingmoney.com. This is a website put together by the the states to reunite owners with their unclaimed property. The site is easy, informative and free. It works for Canada, too.

This is what they have to say:

β€œThe states and provinces have implemented active outreach programs designed to reunite unclaimed property owners with their lost or forgotten assets. To enhance the states and provinces outreach efforts, MissingMoney.com, a national database, was established in November 1999 and is the only database endorsed by the National Association of Unclaimed Property Administrators (NAUPA). MissingMoney.com enables owners to perform comprehensive searches for lost assets required by law to be turned over to the states and provinces.”

A word of caution. This is a government sponsored free service. There are people who will offer to search for you and find your unclaimed property for a fee, as much as 50 percent. Why pay a fee when the service is offered by your state or province for free?