Pennsylvania is currently holding over $3.4 billion in unclaimed funds!
One in ten Pennsylvanians have unclaimed money being held for them.
These funds can include:
- Forgotten savings accounts
- Forgotten checking accounts
- Uncashed checks
- Unknown insurance claims
- Unknown court findings
- Utility Deposits
- Paychecks
There are many reasons for funds going unclaimed including:
- Forgetting to pick up a final paycheck after leaving a job
- Forgetting or not even knowing about a savings account in your name
- Not knowing about an inheritance left to you with a former address listed
- Not knowing about a court decision in your favor
- Forgetting that you put a deposit down on utilities or a phone
The list of reason for funds going unclaimed is almost infinite.
There is a certain time limit for the company in possession of the funds to hold on to them before they are required to turn them over to the state. This is called the “Abandonment Period”. The types of property and the abandonment time periods for Pennsylvania are listed below:
Property Type |
Abandonment period
|
Accounts Payable |
3 years
|
Accounts Receivable/Credit Balances |
3 years
|
Certificates of Deposit |
3 years
|
Checking Accounts |
2 years
|
Debt (private/government bonds) |
3 years
|
Dissolution/Liquidation |
2 years
|
Dividends |
3 years
|
Escrow Accounts |
3 year
|
Fiduciaries |
3 year
|
Funds held by State or Local Courts/Agencies |
2 years
|
Gift Certificates |
Check unclaimed funds law
|
Mineral Proceeds/Royalties |
3 years
|
Money Orders |
7 years
|
Lay-a-way Deposits |
3 years
|
Life Insurance All |
3 years
|
Demutualization |
2 years
|
Official Bank Checks |
3 years
|
Refunds/Rebates |
3 years
|
Safe Deposit Bank Contents |
3 years
|
Savings Accounts |
3 years
|
Securities |
3 years
|
Tangible Property |
3 years
|
Travelers Checks |
15 years
|
Utility Deposits |
Check unclaimed funds law
|
Utility Refunds |
Check unclaimed funds law
|
Vendor Payments |
3 years
|
Wages/Commissions |
2 years
|
All Other Property |
3 years
|
Once the funds have been determined to be “abandoned” they are turned over to the State Treasury’s unclaimed money division.
You can search for Pennsylvania unclaimed funds here
If it turns out that you have money being held for you, you need to submit a claim to recover it.
Complete your claim forms and send them as quickly as possible to:
Unclaimed Property (Claims)
4th Floor, Riverfront Office Center
1101 South Front Street
Harrisburg, PA 17104-2516
You will need to prove your identity and proof of address, which may not be where you currently reside.
If you have any questions, you can all the unclaimed property department at 1 800 222-2046.
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.