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Financial Literacy

4 Sources to Find Unclaimed Money and Assets

Americans have lost billions of dollars. Could some of it be yours? With a simple search, you might find a small fortune of unclaimed assets that could be yours. That’s what happened to one man in South Carolina. He found $763,000 in unclaimed cash.

That’s life-changing money, no doubt… but he could have found it sooner. The following guide will show you why so much money is forgotten. You’ll also learn how to find unclaimed money and assets.

how to find unclaimed money like this person picking up a wallet

How Billions in Unclaimed Money and Property Pile Up

Have you found quarters stuffed between the couch covers? People lose change all the time. The coins pile up and usually end up with the couch owner. It’s chump change… but couches aren’t the only places folks lose money.

There are other huge sources of unclaimed cash. Folks forget to collect their money more often than you’d think. We live in a digital world filled with contracts. This makes it near impossible to read everything you agree to. As a result, some of the benefits you and your family are entitled to slip through the cracks.

Some companies, for example, provide free life insurance for workers. But managers and HR can bury this benefit with other important information. It’s not hard to see how new employees can overlook it. An unbelievable $7.4 billion in life insurance benefits are floating around unclaimed.

With that much up for grabs, the odds of finding an unclaimed life insurance payout are a lot better than winning the lottery. And life insurance is just one of many sources of unclaimed money. Here are seven top sources of unclaimed assets…

Seven Sources of Unclaimed Funds

  1. Insurance policies
  2. Internal Revenue Service
  3. Pensions
  4. Savings bonds
  5. Utility deposits
  6. Uncashed paychecks
  7. Banks with FDIC protection.

Over the years and even generations, unclaimed money from these sources piles up. Some estimates show the total is close to $50 billion. So it’s definitely worth looking around to see what’s yours.

The following section covers the top sources to unlock unclaimed money…

How to Find Unclaimed Money

When searching for unclaimed money, you’ll find third-party sites offering to help… at a cost. But you don’t need to pay for it. The sources listed below are free ways to search for money owed to you.

Each state manages its unclaimed money and property. This makes it a bit tricky to track down. But the link below guides you to each state’s unclaimed assets programs…

Search by State

It’s good to begin your search in the state you currently live in or have recently moved from. You should also check any previous names, such as a maiden name. Expanding your search to family members and relatives might also lead to unclaimed money.

The next source – and one of the better places to start – is the Missing Money website. All you do is type in your first and last name plus your state of residence, and you’ll find out how much money is owed to you.

Several people I personally know have found sizable sums. One co-worker got more than $1,000 from an old college he attended. Another found several hundred dollars for his father owed to him by a public library. There’s no telling how much you could collect, so give it a try…

Missing Money

Each year, working Americans pay taxes, but it’s not an easy thing to do. Forking over a portion of your income isn’t fun, but it’s also a confusing process…

According to the Tax Foundation, federal tax laws and regulations are more than 10 million words long. With such a confusing system, it’s easy to see why many folks forget to claim their tax refunds.

To check for refunds from the IRS, you can use the link below…

Internal Revenue Service Refunds

Another source of unclaimed cash is pensions. If you or family members worked for a business that went bankrupt, a special government entity might be holding money for you.

The Pension Benefit Guaranty Corporation provides a list of unclaimed pensions. Use the link below to search old pensions. It’s another useful source that shows you how to find unclaimed money.

Unclaimed Pensions

The four links above are great places to search for unclaimed money and property. With a little time, you might find some big money with your name on it.

You can also help friends and family search for unclaimed money by sharing this article.

Interested in learning more about money and investing? You can sign up for our free e-letter below. It’s packed with useful ideas from financial experts.


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