In 2015, $7.763 billion was held by unclaimed property agencies, according to the National Association of Unclaimed Property Administrators (NAUPA). That year, $3.235 billion was returned to the rightful owners, the organization said.
So what exactly are unclaimed property and unclaimed funds?
It includes financial accounts that have had no activity for time periods set by individual states. It could be just about anything: savings or checking accounts, stocks, uncashed dividends or payroll checks, refunds, traveler’s checks, trust distributions, insurance payments or refunds, life insurance policies, annuities, Certificates of Deposit, customer overpayments, utility security deposits, mineral royalty payments, contents of safe deposit boxes and more.