California Unclaimed Funds

By 49 Comments

There is over $9 billion in California unclaimed funds belonging to over 17 million accounts!

Unclaimed funds are financial assets that have been left inactive by it’s owner for a period of time specified by law, typically  three years.

Unclaimed funds include:

  • Bank accounts and safe deposit box contents
  • Stocks, mutual funds, bonds, dividends
  • Uncashed cashier’s checks and money orders
  • Certificates of deposit
  • Matured or terminated insurance policies
  • Estates
  • Mineral interests and royalty payments
  • Trust funds and escrow accounts



The California Unclaimed Money Law requires all businesses (Holders) to report and deliver assets to the State Controller’s Office after there has been no activity on the account or contact with the owner during the dormancy period.

If the value of the property is more than $50, the Controller’s office sends out a notice to the property owner that it is going to transfer the property to the State’s unclaimed money division if the property owner does not contact the business holding it by a certain date.

The name of the business holding the property, the contact information, and the amount and type of property are all on this notice.

If the owner doesn’t receive the notice, or doesn’t take action, the money is turned over to the State.

If the owner somehow figures out on his/her own that the money is being held by the State, there is no time limit to file a claim and recover it.

Regarding Claims

If an owner of California unclaimed money does file a claim to recover their money, they will be sent a “claim receipt letter” showing the date the claim was received by the California Unclaimed Money Division.

The law in California allows the State up to 180 from the date they receive the claim to review everything and decide if the documentation provided supports the claim.

Simple claims just regarding cash may take only 30 to 60 days to be processed.

Claims that are more complex, such as those involving more than one owner, claims filed by heirs, or claims involving businesses are usually processed within 180 days.

Claims that take the longest usually involve stocks, bonds or other securities that need to be researched to get the exact value of the security.

These can take an additional 90 to 180 days.

Click here to search for California unclaimed funds

Contact the California Unclaimed Funds Department:

Unclaimed Property Call Center
(800) 992-4647 Nationwide
(916) 323-2827 Outside of U.S

The Call Center is available 8 a.m. to 5 p.m. Pacific Time, Monday through Friday, excluding state holidays.

Mailing Claims & General Information
Unclaimed Property Division P.O. Box 942850, Sacramento, CA 94250-5873

San Diego County Unclaimed Funds

Alameda County Unclaimed Funds

Did you know you can make money finding unclaimed money for other people?

There is a little known business that lets you do that.

Unclaimed money finders locate people that don’t know they money being held for them and help them to recover it. In return, they charge a commission after the money is recovered.

Please click here if you would like to learn more about this business.

Comments

  1. Hi Mark, I appreciate this resource and all the comments/feedback I’ve read. I’ve endeavored my unclaimed monies business, with the focus on the tax sale overages funds. In trying to locate funds from excess proceeds that County agencies hold, does the 10% max finders fee still strictly apply to these county agencies unclaimed funds as well? I get the 12 month expiration date, as it applies to this business.

    I just wanted to clarify on the finders fee. After looking thru investigators handbook and the law and regulations, funds from tax sale excess proceeds do not seem to apply to abandoned properties by definition, unless I’m mistaken. So if doesn’t apply, maybe the 10% max may not apply also? lol

    Thanks for all your help!

    Reply

    • When it comes to counties, the rules are usually a little bit different. They are usually less strict than the states. However, to know for sure, the best thing to do is contact them direclty.

      Reply

  3. Hey I’m having trouble registering as investigator. do I use my personal EIN number when I register and dose my team use the same one that I use?

    Reply

  4. Hi,

    Thank you for this great website full of valuable information,

    I about to start my Heir Finder’s business and I just read: Investigators / Heir Finders cannot charge Owners a fee after the Owner’s Property has been turned over to the California’s State Comptrollers Office. Is this something new?

    “Is There A Fee To Process My Account Through An Investigator?
    Yes. Investigators (sometimes referred to as Asset Locators or Heir Finders) can charge you a fee. It is against the law for investigators to charge a fee greater than 10% of the value of the property that is returned to you. (California Code of Civil Procedure Section 1582).

    Investigators are not allowed to contract with a property owner to help the owner recover unclaimed property once a business has notified the State Controller’s Office that the property will be transferred to the state for safekeeping. A property owner may reactivate the account or recover the property free of charge from the business.

    You can claim your property for FREE directly from the California State Controller’s Office Start your search now.”

    https://www.sco.ca.gov/upd_faq_about_forconsumers_q01.html#Is_There_A_Fee_To_Process_My_Account_Through_An_Investigator_

    Thanks for your advice.

    Reply

    • Cheryl,
      Good luck in your new Heir Finders business.

      Regarding you question, this is what you read:

      “Investigators / Heir Finders cannot charge Owners a fee after the Owner’s Property has been turned over to the California’s State Comptrollers Office.”

      But this is what it actually says:

      “Investigators are not allowed to contract with a property owner to help the owner recover unclaimed property once a business has notified the State Controller’s Office that the property will be transferred to the state for safekeeping. A property owner may reactivate the account or recover the property free of charge from the business.”

      Basically, the rule is that finders have to wait 12 months from when the funds are turned over to the State of California before contacting the owner.

      You can go here for more information on becoming a California unclaimed money finder and you definitely want to check out the State of California Unclaimed Property Investigator Handbook as well.

      Reply

      • Hi Mark,

        Thanks for responding to me and kindly reiterating what I read and understood.

        I spent weeks scouring the internet reading, learning and absorbing everything I could about becoming a Heir Finders, Locators and Investigators (eg. different names given to us by different States) and I learned a lot and I’m also very glad I stumbled upon your great and extremely informative website. 🙂

        Here’s my dilemma:

        I’m feeling really good about starting and becoming a Heir Finder and looking forward to all the wonderful opportunities that awaits me with this new business opportunity.

        However, I think I’m trying to second guess myself waiting for that “aaha moment” that moment that says its too good to be true you cannot work independently from Home, apply yourself, put in the hours whether fulltime or part time, take this opportunity seriously and you could actually make a decent income charging a (%) as a Heir Finder for the cases you successfully close.

        Nevertheless, I must say, there is no “aaha moment” everything checks out to be legit.

        Now, it’s time to look forward and make this business work for me.

        So, as of two weeks ago, I am officially a registered Investigator with the California Unclaimed Property.

        Last week, I contacted three claimants: 1 person $300k, 1 person $2,700 and 1 business $2,700.

        Because of California’s rules we must inform the claimant of the unclaimed properties whereabouts (eg Type of Property, Cash Reported and Reported By).

        When I called these three people they were all pretty receptive and welcoming. I didn’t give the $2,700 people too much information over the telephone but I think I gave the $300k person too much information over the telephone.

        I emailed the $2,700 people a “further to our telephone conversation email” along with my own “there may be more money Agreement.”

        The $300k person said “I’m on those sites all the time and have received money before” and she will call the State and look into it herself but I explained to her that this claim must be very difficult for her to find because its been on the States website for over 10 years. She tried to get off the phone and I explained to her that my company is an independent Heir Finder registered with the State of California and we get paid 10% for any claimants we contact and successfully close the deal and if it wasn’t for me she would not have known about the $300k. She said she will still look into it and if everything checks out she will pay my company our 10%. 🙂

        Note: she’s in the real estate business and I’m sure she also works on commission so, I guess she understands she wouldn’t want someone not pay her – her 10% ($30k).

        I didn’t call any them of them this week because of Thanksgiving but I will follow up with each of them early next week.

        Well Mark, I wrote all of that to say, I just purchased your book “Ultimate Guide to Your Successful Unclaimed Money Finder” and have started reading it but I really need your professional assistance and guidance to assistant we with closing that $300k deal and more. I feel I have the dedication and smarts to become successful in this arena. Its just that gray area on how much info to give them without blowing the deal.

        So, I want to thank you for reading my Novel.. LOL and I really look forward to hearing from you soon.

        P.S, I hope my post helped someone else in their journey.

        PSS. I love the fact that Heir Finder’s calls and letters are on the giving side and not the side of the bill collectors who tries to squeeze every penny out of a person from the little that they don’t have.

        Thanks & Happy Thanksgiving,
        Cheryl
        “Are you happy I called?”

        Reply

        • Cheryl,

          Thank you for that information. There is really no magic formula for that grey area. It sounds like you will do well over the phone with the claimants. I seem to do better with letters. I would say it’s because of my New York accent, but my wife has one too and she does better over the phone. I think the more you are working on it, the better a feel you will get for it.

          Reply

        • HI CHeryl,

          Really liked the post. I am in the middle of starting my busniess in California too. Do you have any update of your progress?

          Thanks,
          Sam

          Reply

        • Hi Cheryl,
          I have a similar story! I am a recent startup too. I am in CA and I called a possible claimant on an Alaska list. She was now living in Arizona I think. It was in the evening so I decided to text instead of call. She initially responded by saying “yeah, it’s been a while…” when asked if this is her! (She must have thought I am someone she knew). Anyways, I disclosed who I am and blah blah blah. I then did the logical thing to inquire if she knew that the state of Alaska might be holding money that she might be available to claim. She immediately indicated that no she didn’t know about it, but she knows how to claim the money directly, that she can work with the state directly and abruptly stopped responding. Seems like I handed her the prize :o). It was disappointing yes but I take this as a learning process. My philosophy is that as long as I am doing the right thing (smartly of course!) and do my work diligently, good karma will come back to me!

          Just wanted to share this!

          Reply

  5. I received a check but I was unable to cash it on time. How do I get another check to replace the one I did not cash. Please and thank you.

    Reply

  6. my father passed on is S.J.MTHIMUNYE and we once received the letter that He must claim his money so i am his son how can we claim his money and we leave in South Africa. please help

    Reply

  7. I called never find and they said they found a claim in my name,but when I checked ca.gov.sight it said there wasn’t any claims found?

    Reply

    • I’ve been dealing with 2 separate claims, the first is for close to 300million and the second is close to 200k. I’ve been unsuccessful for 8 years. I’ve learned a lot and the legal deadline is fast approaching. My story has been picked up on the web, and that web story made it to national news. The California process is criminal for amounts reaching probate status. The US Supreme Court Has stated thusly that it’s waiting for the right case. I believe mine is it. I’ve already had one Ca. employee fired for SEC violations. My family has been harassed, defrauded and exposed to harm due the publishing of my inheritance info on the states website. At this point going full public disclosure is my only defense. 8 years ago they said I would be paid in less than two years. Thousands in travel and legal fees and emotional upheaval.

      Reply

  17. I know I have a check or two from tek systems. I would like info on how to go about getting those funds into my pocket.

    Reply

  18. I have 2 checks that I found and are over 5 years old. One is a paycheck and the second is a tax refund where I use to live. I checked the unclaimed fund and there are no record in my name. Can you help me???

    Reply

  19. I have unclaimed funds for my daughter. She is under 18 year old. My question is can I claim as her mother to get the fund? And how do I get the fund?

    Reply

  20. my father worked for the owens and minor company in san diego ca. he passed away in 2003 and left a stock under my name. I was told when I was of legal age to get info on this stock that was lost. the last update I had for it was in 2007 but now there is no paperwork for it. I need help

    Reply

  23. Yes I have sent a the required material needed papers but keep asking for the same papers. I believe the paperwork is complete.

    Reply

    • Evelyn,
      I’m not sure what you are referring to but I would say you need to call the state and speak to them directly.

      Reply

  24. I have a property ID#000404XXX for a Bank of America asset of a safe deposit box that belongs to my now deceased Aunt Marilyn Jean Miller that I cannot access now from the State of Ca unclaimed money website. Can you help? I am the successor trustee in her will.

    Reply

    • Theresa,
      You can look for unclaimed money there. Whether it is unclaimed property, funds, assets, money, etc., it is all the same thing on the site.

      Reply

  28. Diana,
    I’m not sure why you had problems subscribing, did you try again? Did you make sure you didn’t have any more money being held?

    Reply

  29. i have troubles subscribing to this website, i got a check from the house that i used to own on gorham in moreno valley, there was money left over

    Reply

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