Do Virginia, DC Owe You Money In 2020: Check Here

RICHMOND, VA — From business refunds to insurance payouts, money that's rightfully yours could be sitting in government accounts, but it's up to you to claim your property. The state of Virginia and the District of Columbia hold on to millions of dollars until it is claimed by the rightful owner or that person's heirs.

In the 2019 fiscal year, about $87.1 million in unclaimed assets was returned to Virginians, according to the Virginia Department of the Treasury. The $87.1 million returned to residents of the Commonwealth represented 129,900 asset accounts. Unclaimed property is considered to be abandoned assets of accounts considered dormant due to inactivity.

The money held by the state can include utility deposits, customer refunds, unpaid wages, money from insurance policies, securities and investments, bank accounts and tangible property.

For the fastest service, residents should use the www.vaMoneySearch.org website and search for property using the Click and Claim searchable database. If you are unable to access the internet, you may request an Inquiry Form by calling 1-800-468-1088, choose option 1 and then option 2.

The search form online lets you search for money owed to an individual, to an estate, or to a business.

The unclaimed property the state keeps an eye on includes stocks, bonds, savings accounts, security deposits, contents of safe deposit boxes, insurance proceeds and other valuables which are reported to the state as unclaimed by banks and other financial institutions after three years. Real property is not included, according to the comptroller's website.

Virginia's Consumer Protection Law requires businesses to turn unclaimed property over to the state relieving the business of the financial liability. The state holds the property as the custodian until the rightful owner, or heir, files a claim.

Since its inception in 1961, more than $847 million has been paid out to Virginians.

District Of Columbia Unclaimed Funds

The District's Unclaimed Property Unit attempts to find residents to help them claim the assets held in custody for them by the District.

DC authorities urge residents to search for money or other items through the MissingMoney website, which is free to use, and approved by many government agencies.

The DC Unclaimed Property Unit website allows residents to file and check on claims. The office can also be reached by phone at (202) 442-8181 or via email.

The U.S. government lacks a central website to find unclaimed funds. To search for unclaimed money that may be lying in a different state's treasury, check this list of treasurer's offices.

If you don't have money lying in the state treasury, the government also suggests checking for unclaimed funds from bank failures or unclaimed deposits from credit union closures. You could also check for unclaimed or undelivered tax refunds or a refund from an FHA-insured mortgage.

Finally, you can check for unclaimed back wages, pension money or life insurance funds. Here is how to find out how to search for these unclaimed funds.