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What is unclaimed property? What it covers, why states hold it, and whether it is yours

Unclaimed property is property or accounts held by a business or organization where there has been no activity or contact with the owner for a year or longer.1 After a set period, called the dormancy period, the law requires the business to turn it over to the state.1 Most states hold it as custodian for the owner,4 and claiming it through the official state program is free.2

Updated · Facts checked against official sources November 3, 2026

On this page
  1. What unclaimed property means
  2. What it covers
  3. The dormancy period and what happens after it
  4. Which state gets it
  5. Why states hold it, and who owns it
  6. Escheat vs. unclaimed property
  7. How much states hold
  8. How to find out whether any of it is yours
  9. Money held outside the state programs
  10. Questions people ask
  11. Sources
  • Most of it is intangible, such as uncashed paychecks or stocks; some is tangible, such as safe deposit box contents.1
  • It goes first to the state of your last known address in the business's records.3
  • Most states act as custodians, not owners, and keep it for you indefinitely.45
  • Searching and claiming through the official state program costs nothing.2

What unclaimed property means

NAUPA, the association of the state programs,15 defines unclaimed or “abandoned” property as property or accounts at financial institutions or companies where there has been no activity, and no contact with the owner, for a year or longer.1 The business or organization holding it is called the holder: anyone who has property belonging to someone else or owes them money.4 When the waiting period set by law runs out, the property becomes “unclaimed” and the holder must turn it over to the state.1

What it covers

Most unclaimed property is intangible, such as uncashed paychecks or stocks; some is tangible, such as the contents of a safe deposit box.1 Common kinds include the following; the property types guide covers each in more detail:

  • checking and savings accounts, and certificates of deposit
  • uncashed payroll checks and dividends, refunds and customer overpayments
  • stocks and trust distributions
  • insurance payments, life insurance policies and annuities
  • utility security deposits and mineral royalty payments
  • traveler’s checks, and in some states money orders and gift certificates
  • the contents of safe deposit boxes

That list is NAUPA’s.1 Exactly what counts, and after how long, is set by each state’s own law, so the same kind of property can become unclaimed at different times in different states, as the table below shows.101112

The dormancy period and what happens after it

The dormancy period is the time set by law with no activity or contact with the owner.1 When it ends, the holder must report the property and turn it over to the state,16 and in most states the state then keeps it for the owner as a custodian.4 Step by step:

  1. The account goes quiet. There is no activity on it and no contact with the owner.1
  2. The dormancy period runs. Its length depends on the state and the type of property (see the table below).
  3. The holder tries to reach you. NAUPA calls this due diligence: a final effort to contact the owner.4 It is why you may receive a letter. In California, banks must notify owners of inactive accounts worth $50 or more at least six months before they report them.13 California’s Controller adds that until the property is transferred, the owner can reactivate the account or recover the property from the business, free.14
  4. The holder reports it and sends it to the state. By law the business must report the abandoned property to the right state’s program6 and turn it over.1
  5. The state holds it and tries to find you. Pennsylvania’s Treasurer, for example, must mail a notice to listed owners with an address who appear to be owed $250 or more.12
  6. You claim it. Once the property is with the state, its rightful owner can claim it,6 free through the official program.2
Examples of dormancy periods
Property California Florida Pennsylvania
Checking or savings account 3 years10 5 years11 3 years12
Wages 1 year10 1 year11 2 years12
Traveler’s checks 15 years10 15 years11 15 years28

The dormancy table compares the states, and the uncashed paychecks guide covers wages in detail.

Which state gets it

Under the Supreme Court’s rules, property goes first to the state of the owner’s last known address in the holder’s records.3 If the address is unknown, or that state has no law letting it take the property, it goes to the state where the holder is incorporated.3 That is why NAUPA says it is common to have unclaimed property in more than one state, especially if you have moved.15 The which-state tool walks through the rules.

Why states hold it, and who owns it

The state does not become the owner in most cases. The Uniform Law Commission explains that all of its unclaimed property acts have been “custodial”: the state takes custody to hold the property indefinitely for the owner, which is different from taking title.5 NAUPA notes that most states’ laws make the program a custodian,4 and NAUPA and the state treasurers’ association say owners have the right to reclaim it in perpetuity.7

Some states write this into law. Florida’s statute says the property remains the owner’s and the state acts “solely as a custodian”.11 California’s says property received by the state “shall not permanently escheat”.16

Some states put the money to use while they hold it. Kansas holds it in the general fund as a permanent custodian.17 North Dakota invests it in the Common Schools Trust Fund for K-12 education until it is returned.18 Maryland’s law sends $8,000,000, after costs, to the Maryland Legal Services Corporation Fund.19

Escheat vs. unclaimed property

The Supreme Court describes escheatment as a state’s power “to take custody of property deemed abandoned”.3 In NAUPA’s glossary, escheat is a transfer that makes the state the legal owner, and few states use an escheat law for abandoned property.4 The uniform unclaimed property acts are custodial instead.5 Our escheat guide explains the difference in full.

In a few cases the state can still end up as owner, and the rules differ:

  • Puerto Rico: funds reported by banks there must be claimed within three years of reaching the Commissioner.8
  • Mississippi: uncashed checks issued by the state itself, such as tax refunds or state payroll checks, become unclaimable after six years.20
  • U.S. savings bonds in Iowa: Iowa’s law lets unclaimed savings bonds escheat to the state three years after they are presumed abandoned;21 a claim can still be filed for them or their proceeds afterward.21

The claim deadlines table lists each state’s rule.

How much states hold

California said in February 2026 that it safeguards more than $15 billion.22 Pennsylvania lists $5 billion waiting to be claimed as of March 31, 2026,23 and Florida said in September 2026 that it holds more than $3 billion.24 NAUPA’s member programs returned over $5 billion to owners in fiscal year 2023,15 and NAUPA estimates that about 1 in 7 people have unclaimed property.1

How to find out whether any of it is yours

  1. Search each state’s official program. Every state has one,15 and the list of states links each one. Search well: try every name you have used, in every state you have lived in. Most states also take part in MissingMoney.com, which searches participating states at once;25 see our MissingMoney guide.
  2. Expect to prove it is yours. Some states show the amount only after a claim is filed and entitlement is met, South Dakota for example.27
  3. File with the state that holds it. The steps are in how to claim unclaimed property.

Searching and claiming through the official state program is free.2 Private finders may offer to do it for you; NAUPA says they are legal in most cases but not required,2 and a notice that asks for a fee may come from one.9 Our scam guide explains how to check a notice.

Money held outside the state programs

State programs are not the only place. USAGov says there is no single place to search for all unclaimed money, and lists separate databases for different types.26 Our guide to other official places to check lists them.

Questions people ask

What does unclaimed property mean?

Property or accounts at a financial institution or company where there has been no activity or contact with the owner for a year or longer.1 Once the dormancy period ends, the business must turn it over to the state.1

How does unclaimed property work?

The business holding it (the holder) makes a final effort to contact you.4 It must then report the property to the state,6 and once the property is with the state you can claim it.6 See how to claim.

Does the state keep my unclaimed property?

In most states, no: the state is a custodian,4 and owners can reclaim their property in perpetuity.7 A few kinds of property can be lost, for example bank funds in Puerto Rico after three years.8

What is the difference between escheat and unclaimed property?

Escheat is a transfer that makes the state the legal owner, and few states use it for abandoned property;4 unclaimed property laws make the state a custodian that holds it for the owner.5

Is unclaimed property real or a scam?

The programs are real. All 50 states, the District of Columbia and Puerto Rico have one,15 and NAUPA says about 1 in 7 people have unclaimed property.1 A notice that asks for a fee may come from a private finder;9 see our scam guide.

Sources

Footnote numbers point here. Open "Quoted text" for the exact words relied on ("[…]" marks words left out).

  1. What is unclaimed property? National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · checked Nov. 3, 2026
    Quoted text (17)
    Unclaimed or “abandoned” property refers to property or accounts within financial institutions or companies—in which there has been no activity generated (or contact with the owner) regarding the property for one year or a longer period.
    After a designated period of time (called the dormancy period) with no activity or contact, the property becomes “unclaimed” and—by law—must be turned over to the state.
    Unclaimed property can be intangible, which is the most common (ex. uncashed paychecks, stocks), or tangible (ex. safe deposit box contents).
    Approximately 1 in 7 people do!
    Checking or savings accounts
    Uncashed dividends or payroll checks
    Refunds
    Traveler’s checks
    Trust distributions
    Unredeemed money orders or gift certificates (in some states)
    Certificates of deposit
    Customer overpayments
    Utility security deposits
    Mineral royalty payments
    Contents of safe deposit boxes
    Insurance payments or refunds and life insurance policies
    Annuities
  2. Is it really free to search? National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · checked Nov. 3, 2026
    Quoted text (2)
    There is no fee to search for and claim your unclaimed property—if you use your official state program.
    IMPORTANT: There are, however, third-party “finders” that may offer to locate and claim your unclaimed property for you. While not required to obtain your unclaimed property, these third-party services are in most cases legal.
  3. Delaware v. Pennsylvania, 598 U.S. 115 (2023), opinion Supreme Court of the United States · supremecourt.gov · Feb. 28, 2023 · checked Nov. 3, 2026
    Quoted text (4)
    To resolve the competing claims, we established that, as the primary (default) rule, the proceeds of abandoned financial products should escheat “to the State of the creditor's last known address as shown by the debtor's books and records.”
    adopted a secondary rule to apply in those circumstances; namely, that the proceeds should escheat to the debtor's State of incorporation.
    “Escheatment” is the power of a State, as a sovereign, to take custody of property deemed abandoned.
    or because the State that is entitled to escheatment under the primary rule did not have a law empowering it to take custody of the proceeds.
  4. NAUPA's Glossary of Common Unclaimed Property Terms (PDF) National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · 2024 · checked Nov. 3, 2026
    Quoted text (4)
    Escheat: A transfer of property that makes the state the legal owner of the transferred property. Few states operate under an “escheat” law for abandoned property.
    Most states’ laws make the abandoned property division a “custodian” of the abandoned property remitted to the state.
    Holder: A person (as defined below), wherever organized or domiciled, who is in possession of property belonging to another, a trustee or is indebted to another on an obligation.
    Due Diligence: A final effort on the holder's behalf to contact an owner.
  5. Revised Uniform Unclaimed Property Act (2016), with prefatory note Uniform Law Commission · uniformlaws.org · 2016 · checked Nov. 3, 2026
    Quoted text (1)
    Although rooted in the doctrine of escheat, since inception all of the Uniform Unclaimed Property Acts have been “custodial” acts which deal with the right of states to take custody of abandoned property to hold indefinitely for the benefit of the owner, which is different from a state taking title to and ownership of abandoned property under its escheat law.
  6. Claiming vs. Reporting National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · checked Nov. 3, 2026
    Quoted text (2)
    As property becomes abandoned at a business or organization, these organizations—by law—must report the abandoned property to the appropriate state's unclaimed property departments.
    Once unclaimed property has been turned over to the state, it can be claimed by its rightful owner.
  7. NAST and NAUPA Relaunch MissingMoney.com National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · Nov. 1, 2022 · checked Nov. 3, 2026
    Quoted text (1)
    Though held by each state, owners have the right to reclaim their money in perpetuity.
  8. Inactive Accounts, Abandoned and Unclaimed Property (FAQ, English) Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF) · ocif.pr.gov · checked Nov. 3, 2026
    Quoted text (1)
    Funds reported by banks in Puerto Rico will have a term of three (3) years from the date of delivery of such funds to the Commissioner, as provided for by Act 55-1933.
  9. How States Return Missing Money National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · checked Nov. 3, 2026
    Quoted text (1)
    If you receive a communication regarding your unclaimed property that involves a fee, it may be from a third-party finder or locator.
  10. Dormancy Periods for Most Frequently Reported Unclaimed Property Type (PDF) California State Controller's Office · sco.ca.gov · Rev. 07/2023 · checked Nov. 3, 2026
    Quoted text (3)
    Demand Deposits (Checking) 3 CCP 1513 (a)(b)
    Wages or Salaries 1 CCP 1513 (g)
    Traveler’s Checks 15 CCP 1513 (c)
  11. Chapter 717, Florida Statutes (2026), Florida Disposition of Abandoned Personal Property Act The Florida Legislature · leg.state.fl.us · 2026 Florida Statutes · checked Nov. 3, 2026
    Quoted text (4)
    (1) Any demand, savings, or matured time deposit with a banking or financial organization, including deposits that are automatically renewable, and any funds paid toward the purchase of shares, a mutual investment certificate, or any other interest in a banking or financial organization is presumed abandoned unless the apparent owner or authorized representative has, within 5 years, engaged in any of the following activities:
    It is the intent of the Legislature that property reported under this chapter remains the property of the owner and that the State of Florida acts solely as a custodian, not as the owner, of such property.
    717.115 Wages.—Unpaid wages, including wages represented by unpresented payroll checks, owing in the ordinary course of the holder’s business that have not been claimed by the apparent owner for more than 1 year after becoming payable are presumed abandoned.
    (1) Subject to subsection (4), any sum payable on a traveler’s check that has been outstanding for more than 15 years after its issuance is presumed abandoned unless the apparent owner or authorized representative, within 15 years, has demonstrated a continued interest in the property in accordance with s. 717.102.
  12. The Fiscal Code, Act of Apr. 9, 1929, P.L. 343, No. 176, Article XIII.1 (72 P.S. § 1301.1 et seq.) Pennsylvania General Assembly · palegis.us · text displayed Nov. 3, 2026; latest Article XIII.1 amendment shown: July 17, 2024, P.L.910, No.81 · checked Nov. 3, 2026
    Quoted text (3)
    Any demand, saving or matured time deposit in a financial institution, or any funds paid toward the purchase of shares or other interest in a savings association, savings and loan or building and loan association, excluding any charges that may lawfully be withheld, unless within the preceding three (3) years the owner has:
    the State Treasurer shall mail a notice to each person having an address listed who appears to be entitled to property of the value of two hundred fifty dollars ($250) or more
    Wages or other compensation for personal services that have remained unclaimed by the owner for more than two (2) years after the wages or other compensation for personal services become payable or are distributed are presumed abandoned and unclaimed.
  13. Consumer Information California State Controller's Office · sco.ca.gov · checked Nov. 3, 2026
    Quoted text (1)
    Banks and financial institutions are required by law to send owners of inactive accounts, valued at $50 or more, a notice at least six (6) months before they are required to report the property to the state.
  14. FAQ: Claiming Property California State Controller's Office, Unclaimed Property Division · claimit.ca.gov · checked Nov. 3, 2026
    Quoted text (2)
    Before the property has been transferred, a property owner may reactivate the account or recover the property free of charge from the business.
    No, there is no time limit for filing a claim. You can file a claim at any time after the unclaimed property has been transferred to the State Controller’s Office.
  15. Who We Are National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · checked Nov. 3, 2026
    Quoted text (3)
    Unclaimed property is reported to the state in which the company or organization resides. Therefore, it’s common to have unclaimed property in multiple states, especially if you have moved to another state.
    These programs returned over 5 billion dollars in FY 2023 to their rightful owner.
    is comprised of the unclaimed property programs of all 50 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as several foreign jurisdictions.
  16. Unclaimed Property Law and Regulations (official SCO compilation of Code of Civil Procedure section 1500-1582 and 2 CCR 1150 et seq.) (PDF) California State Controller's Office · sco.ca.gov · February 2026 · checked Nov. 3, 2026
    Quoted text (1)
    (a) Notwithstanding any provision of law to the contrary, property received by the state under this chapter shall not permanently escheat to the state.
  17. What is Unclaimed Property? Kansas State Treasurer · missingmoney.ks.gov · checked Nov. 3, 2026
    Quoted text (1)
    The state serves as a permanent custodian of the property until the rightful owner is found. The money is held in general fund for the benefit of all citizens of Kansas.
  18. What Is Unclaimed Property? ND Dept. of Trust Lands, Unclaimed Property Division · unclaimedproperty.nd.gov · checked Nov. 3, 2026
    Quoted text (1)
    In North Dakota, unclaimed property and any income generated from it is invested in the Common Schools Trust Fund to help fund K-12 education, until such time it can be returned to the rightful owner.
  19. Maryland Code, Commercial Law § 17-317 Maryland General Assembly (mgaleg.maryland.gov) · mgaleg.maryland.gov · current text as displayed Nov. 3, 2026 · checked Nov. 3, 2026
    Quoted text (1)
    (2) After deducting all costs incurred in administering this title from the remaining net funds the Administrator shall distribute $8,000,000 to the Maryland Legal Services Corporation Fund established under § 11–402 of the Human Services Article.
  20. It's Your Check. Cash it. Office of the Mississippi State Treasurer (Treasurer's column) · treasury.ms.gov · Oct. 24, 2025 · checked Nov. 3, 2026
    Quoted text (1)
    While most unclaimed money remains claimable forever, checks that were issued to you by the state such as tax refunds, payments for a good or service or even payroll checks that go uncashed, become unclaimable after six years, reverting to the state's general fund.
  21. Iowa Code 2026, Chapter 556 – Disposition of Unclaimed Property Iowa Legislature · legis.iowa.gov · Iowa Code 2026 (PDF generated Dec. 9, 2025) · checked Nov. 3, 2026
    Quoted text (2)
    shall escheat to the state three years after such bonds are presumed abandoned property under section 556.9, subsection 1.
    Any person making a claim for the United States savings bonds escheated to the state under this section, or for the proceeds from such bonds, may file a claim in accordance with section 556.19.
  22. PR26:04 February as Unclaimed Property Month in California California State Controller's Office · sco.ca.gov · Feb. 5, 2026 · checked Nov. 3, 2026
    Quoted text (1)
    California’s Unclaimed Property program is administered by the State Controller’s Office (SCO), which currently safeguards unclaimed property valued at more than $15 billion.
  23. OpenBookPA: Unclaimed Property in Pennsylvania, county-level data Pennsylvania Treasury Department · patreasury.gov · Quarter end 3/31/2026 · checked Nov. 3, 2026
    Quoted text (1)
    $5 Billion Value of Properties Waiting To Be Claimed
  24. CFO Blaise Ingoglia Launches 'Claim Your Cash Florida' to Return More Abandoned Money to Floridians Florida Department of Financial Services · myfloridacfo.com · Sept. 15, 2026 · checked Nov. 3, 2026
    Quoted text (1)
    More than $3 billion in abandoned property is currently safeguarded by the State of Florida and waiting to be claimed.
  25. Search for your unclaimed property (it's free) National Association of Unclaimed Property Administrators (NAUPA) · unclaimed.org · checked Nov. 3, 2026
    Quoted text (1)
    Most states participate in MissingMoney.com—a free website, sponsored by NAUPA, from which you can search participating state’s databases for unclaimed property.
  26. How to find unclaimed money from the government USAGov · usa.gov · Sept. 24, 2025 · checked Nov. 3, 2026
    Quoted text (1)
    There is no single place to look for all unclaimed money. Use the separate databases in the following chart, to search for each type of unclaimed money.
  27. FAQs – Claiming Property South Dakota State Treasurer – Unclaimed Property Division · southdakota.findyourunclaimedproperty.com · checked Nov. 3, 2026
    Quoted text (1)
    To reduce the potential of fraudulent claims and to protect the privacy of the property owner, we will release the amount and full details once a claim has been filed and entitlement has been met.
  28. Pennsylvania Unclaimed Property Annual Reporting, 2026 Report Year Pennsylvania Treasury Department · searchandclaimpa.gov · 2026 report year · checked Nov. 3, 2026
    Quoted text (1)
    Travelers cheques - 15 years