Top 6 Resources to Discover Unclaimed Money
Discovering unclaimed money can be a rewarding experience. This guide highlights the top six sources where you can find unclaimed funds, including government agencies and official registries. Whether it's forgotten retirement benefits, bank account leftovers, or unclaimed refunds, these resources help you recover assets owed to you. Stay informed and proactive to reclaim your rightful property and maximize your financial benefits. The article provides practical steps to locate unclaimed assets across various government platforms, ensuring you don’t leave money on the table.
Top 6 Resources to Discover Unclaimed Money
Finding unexpected cash, like a leftover $20 bill, is delightful. But uncovering substantial unclaimed funds that belong to you is even more rewarding. Approximately 10% of Americans have unclaimed property or money. Knowing what qualifies as unclaimed funds and where to search can help you recover these assets and claim what’s rightfully yours.
What Are Unclaimed Funds?
Unclaimed funds are assets that organizations, government agencies, or financial institutions cannot contact or locate owners for after a defined period.
How to Locate Unclaimed Property
You can search for unclaimed assets through various government agencies:
National Registry of Unclaimed Retirement Benefits
When changing jobs, some retirement balances may be overlooked. Visit this registry’s website to locate forgotten retirement benefits from previous employers. It’s a public resource designed to reconnect individuals with unclaimed retirement funds.
Federal Deposit Insurance Corporation (FDIC)
Unclaimed funds from old bank accounts, including insurance refunds, deposit holdings, dividends, or escrow funds, can be found through FDIC or NCUA websites, especially from failed banks or credit unions.
State Tax Departments
Tax refunds become unclaimed if the department can’t reach the taxpayer due to outdated address information. The National Association of Unclaimed Property Administrators helps you search for unclaimed state tax refunds where you’ve resided.
Internal Revenue Service (IRS)
Tax overpayments or unclaimed refunds often accumulate due to address discrepancies or relocation. Contact the IRS to inquire about unclaimed refunds or lost income tax checks.
U.S. Department of the Treasury
Lost or unclaimed savings bonds or Treasury-held assets can be retrieved by submitting Form 1048 through the Bureau of the Fiscal Service. Unclaimed refunds from the IRS are forwarded here if unclaimed after three years.
Social Security Administration
If a loved one has recently passed away, you might be eligible for life insurance benefits or unclaimed policies from demutualized companies. The SSA can assist in locating these unclaimed benefits or policies.
