Unclaimed Funds and Assets within the United States

By: Linda G., Published: Mar 23, 2020 | Related: Unclaimed Inheritance Money


Many people are unaware that various reserves of money they should have been entitled to have never been added to the funds that they actively draw from every day. Oftentimes, this is because the person never realized that they had yet to formally claim money that was awarded to them in the past and is still waiting for them now.

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The amount of unclaimed funds and assets within the United States that can still be taken by their rightful owners measures in the billions; nonetheless, the government never takes it upon itself to contact people about this missing money. In fact, this is why a person should never trust phone calls or emails from parties claiming to be the U.S. government and claiming that they can freely send the person some money that was supposedly overlooked in the past. This is always a scam meant to exploit uninformed victims in some way.

To start with, you should first put in your own effort to look into this matter without having to pay someone else to do it on your behalf. You should start by looking over every place you have either lived or worked at within your current state of residence. Then, you should broaden your search to other states that you had previously lived in. If you find that you had left behind a safe deposit box, a deposit you may have given to a prior landlord, or a check you had received from a prior employer you once worked overtime at, you will have to determine whether that will be turned over to you by either the local district in question or the state's government.

On the subject of unclaimed retirement money, it is common for someone switching employers to fail to realize that the 401(k) plan they maintained at their last place of work is not active at their new place of work. You can search for one of these dormant plans on the websites of companies that provide 401(k) plans. Meanwhile, pensions that have never been sent to you can be searched for at the company at which you were employed at the time; if that company has closed, you can search for those pensions at the website of the Pension Benefit Guaranty Corporation, which protects non-state pensions. In cases where you believe that a pension meant for you was illegally used by someone else for their own benefit, you should consult another government agency called the Employee Benefits Security Administration for assistance.

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People often forget to claim tax refunds as well. The IRS itself retains possession of these refunds and can award them to people who visit its website and follow its instructions on how to claim them. Meanwhile, there may also be a refund waiting for you at the Federal Housing Administration if you have handled home mortgaging matters through it in the past. Refunds from the FHA can be awarded for various reasons such as refinancing a loan you originally received from it and mistakenly paying more for your home's mortgage insurance than necessary because of some overlap between different kinds of insurance payments. Note, however, that there is only a six-year window within which this money can be claimed before it will fall under the ownership of the U.S. Department of Housing and Urban Development.

Other sources of money you may not have claimed at the time include mature savings bonds that you had never redeemed and insurance coverage for accounts you maintained at financial institutions that have since gone under. You can find unclaimed savings bonds by searching on the website of the United States Treasury Department. If you had an account at a bank that has since closed down, you can look into the Federal Deposit Insurance Corporation to see if it will pay you insurance for that account; it provides up to $250,000 in insurance coverage. Likewise, if you had an account at a credit union that has since shut down, you can look at the National Credit Union Administration's online resources to see if it can pay out insurance coverage for your losses.

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Regardless of where your unclaimed funds may be located, you do not necessarily need to pay a specialist to locate them because a free website run by an independent group called the National Association of Unclaimed Property Administrators lets you search for them across every state quite easily and efficiently.


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