Claim lost money: How to find benefits, old accounts, deposits, wages owed

May 20, 2023

By Kim Komando

I’ll never forget helping Robert from Virginia find $24,578 sitting in a bank account he didn’t know existed. He heard me talk about how to find hidden money on my national radio show.

Nowadays, almost everything seems like a scam. But money might be yours, just waiting to be claimed. You need to know the legitimate places to look.

Why is all this unclaimed money sitting around? You have to do some work to get it. Here’s how.

Don’t hire a service for this

Helping citizens claim lost money is one of the duties of the U.S. Treasury Department. You are entitled to any of your or a deceased relative’s old bank accounts, safe deposit box contents, uncashed checks, insurance policies, CDs, trust funds, utility deposits, stocks and bonds, wages and escrow accounts.

You don’t need to hire a dubious service or spend money to make money. If anyone asks for payment to help you find unclaimed property, ditch them. You can easily do it yourself.

Start in your home state

Your search begins where you live. Each state has an independent treasury website with a special search function for unpaid dues.

Skip Google since there are scammers on searches like this. To find the link for your state’s treasury website, visit the National Association of Unclaimed Property site. Select your state or province.

Each state’s site is a little different, but follow the step-by-step instructions, enter your information and the database will do the rest. Often, the paperwork you need to complete to claim your money can be printed on these pages.

You will also need to prove your identity and likely have signatures notarized. The time to collect depends on each government agency; it can take weeks or months, but it works.

Pro tip: If you have a frequently misspelled name or have variations that are often confused, search for those misspellings on the unclaimed funds’ sites. Search for any former names or nicknames, too.

Expand your search

Your specific state search may lead you to a national database site, MissingMoney.com. If you’ve lived or done business in many states, this site will connect you to the correct treasury departments.

MissingMoney is a free government search site. All the site asks for is your name and resident state(s). Living in several places does complicate your search, so you may have to sift through the results.

Check for VA life insurance benefits

The U.S. Department of Veteran Affairs offers a search on its site for unclaimed insurance funds owed to current and former policyholders or beneficiaries. The search does not include funds from Servicemembers’ Group Life Insurance (SGLI) or Veterans’ Group Life Insurance (VGLI) policies from 1965 to the present. But it’s worth a shot.

Simply search for your or your veteran’s last name on the VA.gov site.

Forgotten retirement funds

As you move from company to company in your career, it’s your task to see whether past benefits or retirement savings can be transferred or cashed out. You could have money sitting in a past 401K account you forgot.

The National Registry of Unclaimed Retirement Benefits will help you find money being held from prior employers. To search, you will be asked to enter your Social Security number. The site is secure and promises to encrypt personal information and conduct regular security audits. It seems safe to me.

Don’t forget about closed banks and investments

Banks close like other businesses. The Federal Deposit Insurance Corporation (FDIC) offers a specialized search to see if money in your name was left in failed financial institutions.

You can search for the money left in credit unions at the National Credit Union Administration site.

At TreasuryHunt.gov, you can look for any matured savings bonds that have stopped paying interest.

Check for unclaimed tax refunds

The Internal Revenue Service may owe you money. Every year, the IRS has millions of dollars in tax refunds that go undelivered or unclaimed.

If you think the IRS might owe you money, you can file a claim to the IRS to update them about your new address. Additionally, if an employer withholds funds from you, the IRS gives you up to three years to submit a claim to collect your money.

Let me know how you do

You never know what you’ll find. Set a reminder to do this on an anniversary, your birthday, or another date you’ll remember each year. Let me know if you find a hidden treasure so I can celebrate with you.