9 Ways to Find Unclaimed Money Right Now
Unclaimed money is precisely that – money that you somehow leave behind that doesn’t get claimed. If you forgot about a savings bond or an apartment security deposit, for example, and you don’t collect it, then it’s “unclaimed.”
How Much Money is Unclaimed in the US?
According to CNN Money:
Currently, states, federal agencies and other organizations collectively hold more than $58 billion in unclaimed cash and benefits. That’s roughly $186 for every U.S. resident.
That’s a LOT of unclaimed cash!
What Are the Typical Sources of Unclaimed Money? (And How Do You Get That Money?)
So where is that $58 billion stashed? It’s in a variety of places. Here are some of the typical sources for your unclaimed money and how you’d go about recovering it:
- Miscellaneous Money: You might have money out there in the form of a forgotten apartment security deposit, uncashed overtime checks, lost insurance refunds or abandoned safe deposit boxes.
Where to Find It: Go to Unclaimed.org, a free site set up by the National Association of Unclaimed Property Administrators (NAUPA). There you’ll be linked to the appropriate department in your state that’s holding your funds.
- Unclaimed Bonds: These are easy to forget about since they take 30 to 40 years to mature.
Where to Find It: Head on over to Treasury Direct where you can find forgotten bonds by inputting your social security number. You might have to perform a hand search for certain bonds, but you can read more about that at the same link.
- Federal Tax Refunds: Your missing money may be in the form of a tax refund that you never received.
Where to Find It: Check out a feature on the IRS website called Where’s My Refund. Find your missing check by entering the amount you should have been owed and your social security number.
- Lost Life Insurance Policies: You could have been the beneficiary of a loved one’s lost life insurance policy and would therefore have missing money hanging out there.
Where to Find It: Contact a company called MIB Solutions (a private company that houses life insurance applications) and ask them to search for your money. The search costs $75. Find more information over at MIB’s Policy Locator.
- Failed Bank Accounts: If your bank went under and you didn’t collect your money, you might have money hanging out there (as long as your account was protected by the Federal Deposit Insurance Corporation (FDIC).
Where to Find It: In this case, the FDIC would still be holding your money and you could find it by searching their site.
- Failed Accounts in a Credit Union: Similarly, if you had money in a credit union that failed, you could have money owed to you.
Where to Find It: Head over to the National Credit Union Association to track down this money.
- Retirement Money: You may have money you tucked away for retirement out there that you forgot about.
Where to Find It: You’ll want to head over to the Employee Benefits Security Administration site. This is a Federal agency whose job it is to reunite retirement money to its rightful owner.
- Lost 401(k)s: If you’ve ever left a job before, it’s possible that you left your 401(k) behind as well.
Where to Find It: This National Registry of Unclaimed Retirement Funds has a search engine that can help you find these kinds of funds.
- FHA-insured Mortgage: If you had one of these mortgages, you could be eligible for a refund.
Where to Find It: Go to the U.S. Department of Housing and Urban Development’s site to see if you’re due for a refund.
What Other Resources are Available to Help Me Find Unclaimed Money?
In conclusion, here are some great sites to get you started if you want to start your search for Unclaimed money that’s rightfully yours:
