What is unclaimed money? Unclaimed money is money that businesses or the government owe to you. The money can be from checks that you did not cash during the allotted time, inactive bank accounts, safe deposit, insurance policies, annuities, or escrow accounts.
If there were no activity on a bank or a brokerage accountfor at least a year or when important notices mailed to you are returned undeliverable to the company then they consider the account as inactive. In those instances, the money or property is turned over to the State, which will use various ways to find the rightful owner. Most states use the national unclaimed property database MissingMoney.com so the residents can check for unclaimed money; however, you may have to check individual company as shown below.
You can search for unclaimed money for free and follow the procedures outline by the State to claim that money or property.
For unclaimed money in your State
For money from past employers
You can visit the Department of Labor website https://webapps.dol.gov/wow/
For unclaimed pensions visit the Pension Benefit Guaranty Corporation https://www.pbgc.gov/search-unclaimed-pensions
Money from Tax Refunds
Visit the IRS website https://www.irs.gov/refunds
Money from Failed Banks
During the last decade financial crisis, a lot of banks failed so you can check for unclaimed money here https://closedbanks.fdic.gov/FUNDS/FundsNET/Funds
If you had an FHA insured mortgage, you might be eligible for a refund
Money From Insurance Companies
VA Insurance Benefits visit the U.S. Department of Veterans Affairs database if you are a policyholder or their beneficiaries https://insurance.va.gov/UnclaimedFunds
Credit Union failures
Companies who owe investors money
Visit the Security and Exchange Commission website https://www.sec.gov/divisions/enforce/claims.htm