Californians Owed $15B In Lost, Forgotten Money; See If You're Eligible To Make A Claim

SACRAMENTO, CA — A statewide effort is underway to reunite approximately $15 billion in unclaimed property that belongs to millions of people, businesses, and government entities across California.

The initiative is taking part in phases. Last week, the California State Controller's office announced it was mailing letters to approximately 130,000 Californians who may be owed money through the state’s "Unclaimed Property Program." The program safeguards lost or forgotten financial assets that have been turned over to the state. The assets include dormant bank accounts, uncashed checks, insurance proceeds, stocks, dividends, and other financial property.

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The June outreach follows efforts in December in which the controller's office mailed more than 100,000 letters to Californians to reunite property owners with more than $30.4 million in unclaimed assets, according to the state agency.

The latest letters are being sent to people identified through a partnership between the State Controller’s Office and the Franchise Tax Board.

"By securely matching unclaimed property records with existing state tax records, the SCO can more efficiently identify rightful owners and notify them of funds that may belong to them," according to a statement from the State Controller’s Office.

What Californians Should Know:

People who receive a letter from the State Controller’s Office should:

• Review the notice carefully and verify the information listed.
• Visit the unique URL on the letter and enter the claim code included in the letter.
• Follow the instructions to confirm ownership and receive a check in about two weeks.
• Contact the State Controller’s Office if they believe the notice was received in error or have questions about the claim.

"We want to remind Californians that official correspondence regarding this program will clearly identify the California State Controller’s Office and provide instructions directing recipients to ClaimIt.ca.gov," according to the state agendy. "Californians should be cautious of unsolicited requests for personal or financial information and verify communications through official State Controller’s Office channels. Californians should also know that they never have to pay a fee to claim property directly from the State Controller’s Office."

Need Assistance?
Recipients with questions about a notice can contact the State Controller’s Office Unclaimed Property Division Contact Center at:

• 800-992-4647 (within the United States)
• 916-323-2827 (outside the United States)

Curious Whether Property Is Owed To You?

The unclaimed funds belong to Californians, not the state. Californians can search for unclaimed property and learn more at ClaimIt.ca.gov.

Note: Letter recipients do not need to search the ClaimIt.ca.gov database or submit a traditional claim. Instead, they can use the unique claim code included in the letter to verify their information and complete an online process, according to the controller's office.

"If you receive one of these letters, we want you to know it is legitimate, understand why you received it, and have a simple and secure path to claim your funds," said California State Controller Malia M. Cohen.