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What is unclaimed property?
California holds over $14.5 billion in forgotten money. Here's how it gets there — and how to get it back.
The basics
Unclaimed property is any financial asset that has been left inactive by its owner for a period of time — typically three years or more. When a bank, insurance company, employer, or other institution can't reach the owner, California law requires them to turn the property over to the State Controller's Office for safekeeping.
This isn't government money. It's your money. The state is just holding it until you claim it. There's no deadline — it stays there indefinitely, waiting for you.
How does property become unclaimed?
The most common reasons are simpler than you'd think:
- You moved and didn't update your address with a bank or insurer
- A check was mailed to an old address and returned undeliverable
- You forgot about an old savings account or safe deposit box
- An employer owed you final wages or a retirement payout
- An insurance policy matured and the company couldn't find you
- A relative passed away and no one knew about the account
After three years of no contact, the institution is legally required to send the funds to the state. This happens to millions of Californians — the average claim is around $297.
What kinds of property are held?
The most common types include checking and savings accounts, uncashed payroll or dividend checks, insurance payouts, IRA and retirement funds, stocks and securities, utility deposits, and safe deposit box contents. See the full list of property types →
How do I find out if I have unclaimed property?
You can search for free at claimit.ca.gov — the state's official portal. Its search only matches your exact name and exact current address as the SCO filed them. That misses a lot of property.
myMoneyCA searches the same 48.9 million records, and you can enter more than the state portal accepts — multiple names, maiden names, and every address you've lived at — all in one search. Every match comes with a score so you know which results are strongest. See a city-by-city breakdown of California's $14.5 billion in unclaimed property on our city stats pages.
