Treavor Dodsworth CFP®, CPA, CKA®
#26 - Missing Money
Millions of people have money they own that they are not even aware of. According to the National Association of Unclaimed Property Administrators (NAUPA), 1 in 10 has unclaimed property and states return over $3 billion annually to their owners. There are countless different reasons that unclaimed property could result. For example, maybe you thought you emptied out a savings account but some residual interest came through and the bank wasn't able to contact you. Or a company owes you a refund but they can't track you down. The unclaimed property is held at the state level in unclaimed property divisions. When the owner realizes the money is missing, they can make a claim and receive the funds. Some people have unclaimed money in their name that they never even knew existed. Fortunately, states have online search tools where you can search for the money. On the NAUPA website, you can easily find your state’s search tool. MissingMoney.com is another useful resource as you can search many different states at once. Not every state’s unclaimed property is listed on MissingMoney.com though. I encourage you to search your state’s website for unclaimed funds. Look in your current state, states you have lived in the past, or any other state where you think funds could be. Also, take a look for family/friends too. I am sure they wouldn’t mind you finding money for them. Happy hunting!
Interesting Article(s) or Video(s)
Herald Bulletin - Indiana holds more than $500 million in unclaimed property
Per this article, if money is not claimed after 25 years in Indiana it becomes the property of the state.
Thank you for reading! Have you ever found unclaimed property before?