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General Information
What is Unclaimed Property?
Unclaimed Property is legally defined as any financial asset that has been left inactive by the owner for three years or more. The California Unclaimed Property Law does NOT include real estate. The most common types of Unclaimed Property are:
- Bank accounts and safe deposit box contents
- Stocks, mutual funds, bonds, and 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
How does the State acquire Unclaimed Property?
California's Unclaimed Property Law requires corporations, business associations, financial institutions, and insurance companies (commonly referred to as "holders") to annually report and deliver property to the Controller's Office after there has been no customer activity on the account for over three years. Often the owner forgets that the account exists, or moves and does not leave a forwarding address or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property. All holders of Unclaimed Property are required by law to make attempts to contact the owners before reporting the property to the State.
Why does California have an Unclaimed Property law?
The law was enacted to prevent holders of Unclaimed Property from using your money and taking it into their business income. This law gives the State an opportunity to return your money and provides California citizens with a single source, the State Controller's Office, to check for unclaimed property that may be reported by holders from around the nation.
What efforts are made to find the owners?
All businesses and financial institutions are required to send a notice to the owner's last known address informing the owner that the account will be transferred to the State Controller for safekeeping if the owner does not notify the institution of intent to maintain the account.
The State Controller's Office may send notices annually to owners on accounts that were reported with a Social Security number and where a last known address was obtained from the Franchise Tax Board.
The State Controller's Office publishes a notice to unclaimed property owners in newspapers of general circulation in each county annually.
This Web site provides a database that allows possible owners or heirs to conduct a property search in their name or that of a relative.
How do I find out if I have Unclaimed Property?
On this Web site, use the property search link, follow the directions, and provide all requested information. You may also call or write our office. You will need to provide the owner's or business's name, all previous and current California addresses, and a Social Security number or tax identification number. Possible ownership may be indicated if a match is found by the information you provide.
How does the claim process work?
The claim form printed from our Web site includes instructions. These filing instructions list documentation that you must provide when filing your claim. All claim types have general required information, such as:
- Copy of current photo identification for each claimant;
- Copy of Social Security card or tax identification number for each claimant;
- Verification of reported address if different from current address; and
- Specific documentation relating to the type of property, such as original passbook, cashier's check, or stock certificate.
When our office receives your completed claim form, we review it carefully. If the evidence is not adequate to prove your ownership, our office will contact you or return all documents submitted, with a letter stating why the claim is incomplete. Our office is required by law to make a payment determination of all claims within 180 days from the date a package with all supporting documents is received.
Is there a fee for processing my account through the State Controller's Office?
No. Owners or heirs may claim their property directly from the State Controller without any service charges or fees. However, if you are represented by an heir finder or investigator, he or she may charge you a fee, not to exceed 10% of the value of the property returned to you, per Section 1582 of California's Unclaimed Property Law.
What are heir finders?
Heir finders or asset locators are individuals or companies that offer to reunite the apparent owner or heirs with unclaimed property for a fee. For more information regarding heir finders, please visit our Heir Finders Info page.
How can I prevent my property from being turned over to the State?
- Keep accurate and current records of bank accounts, insurance policies, stock certificates, utility and rent deposits, and safe deposit box locations.
- Make sure that you pay your annual rental fee for your safe deposit box.
- Keep accounts active through customer-initiated contact with the holders of your property by mail, telephone, or in person.
- Cash all checks for dividends, wages, refunds, and insurance settlements.
- Notify a family member or trusted advisor of the location of your records.
- Prepare a checklist of the above items to be used for notifying all concerned parties if you change your address.
What is a property identification number?
Every Unclaimed Property account has an identification number assigned by our office at the time the account is placed into our database. The property identification number is located at the top right of the claim form. This number is important, because you will need it whenever you contact us regarding your claim. Our office recommends that each claimant keep this number until the claim has been processed.
How may I search for Unclaimed Property held by other states?
You may search for Unclaimed Property held by other states through the National Association of Unclaimed Property Administrators Web site.
Claiming Unclaimed Property
Is there a time limit for claiming my property?
No, there is no time limit for filing a claim. The unclaimed property account is held in perpetuity for the owner, or the owner's heirs, until a claim is received and paid.
Where do I send my claim?
Mail the completed claim form and documents to the following address:
Unclaimed Property Division
P.O. Box 942850
Sacramento, CA 94250-5873
How will I know if you received my claim?
When your claim is received in our office, you will be sent a "claim receipt letter" showing the date the claim was received.
How long will it take for my claim to be processed?
Each claimant must provide documentation that validates information reported by the holder (i.e., Social Security number and/or address) in order for a claim to be processed and paid. Simple cash claims may be processed within 30 to 60 days. Other claims involving cash properties are generally processed within 180 days. However, additional time is required for processing securities claims because the division must review any corporate mergers, acquisitions, dividends, and other corporate actions that affect the value of the claim. Please allow an additional 90 to 180 days for this valuation to be completed.
Will I be paid interest on the property for the time that the Controller held the property?
Assembly Bill 1756 was passed into law on August 11, 2003 and has eliminated the payment of interest on unclaimed property claims. Please refer to the Unclaimed Property Law and Regulations (September 2003), Section CCP 1540(c).
What institutions are governed by the Unclaimed Property Law?
Institutions governed by the Unclaimed Property Law are banks, savings and loan associations, credit unions, insurance companies, utilities, business associations, and any other organization or person in possession of property subject to the law.
How may I search for my account if the business or financial institution claims that it no longer has a record of the account?
Locate any statement or original documents in question and present them to the business or financial institution for research.
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If the institution insists that it is unable to find a record of your account, call our toll-free number within the United States, (800) 992-4647, and ask to have your name researched. The number for out-of-country callers is (916) 323-2827. You may also contact UCP by e-mail. Our records are updated daily and, if your name does not appear, please call us periodically.
In addition, this Web site provides a database for you to conduct a property search online. The site is updated weekly.
How can I get my money back if I have a stale-dated cashier's check, a money order, or any uncashed check in my possession that is not honored by the bank?
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Contact our office to have a manual claim form mailed to you. The toll-free number for within the United States callers is (800) 992-4647. The number for out-of-country callers is (916) 323-2827. You may also contact UCP by e-mail.
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You must complete the claim form, provide proof of identity, enclose the original uncashed check, and send your claim by certified mail to the address listed on the form. If the original uncashed check is unavailable, additional documentation is needed to verify claims for the negotiable instruments. You will be required to provide other available documentation along with a Declaration of Loss form. Please contact the Unclaimed Property Division by telephone at (916) 323-2827 for further instructions.
Retain copies for your records.
What will happen to the contents of my safe deposit box if I fail to pay my annual safe deposit box fees?
The contents of your safe deposit box will be turned over to the State Controller after three years, and all items of monetary value will be sold at auction. The proceeds from the sale will be credited to an account in your name, less any bank liens, and will be paid when you or your heirs submit a valid claim.
What will happen to my investment accounts (i.e., stocks, bonds, mutual funds) if I do not maintain contact with my broker or the company in which my funds are invested?
Your investment accounts will be turned over to the State Controller's Office, which is required by law to sell securities within two years of receipt. The proceeds will be credited to an account in your name until such time as you or your heirs submit a valid claim.
How are stock accounts paid?
California Unclaimed Property Law (Section 1563) requires the State Controller to sell securities within two years of delivery to our office. If the claimant's securities have been sold, the claimant will receive the market value at the time of sale. If the claimant's securities are in certificate form, the claimant will receive the certificates and any earned dividends.
Why does it take longer to receive payment on securities claims?
Securities claims take longer to process for payment because they are more complex than cash claims.
The State is obligated to pay an owner or heir the current value of a security or the price at which the securities were sold. Our office has the authority to sell securities after holding them for one year. In addition to the stock certificates or the sale proceeds, the owner or heir also benefits from any actions taken by the issuing company while the State held the stock, such as dividends, mergers, splits, and spin-offs. Thus, securities claims require extensive research and calculations that are not required on cash claims.
Lastly, where a claim involves stock certificates,
the certificates must be forwarded to a transfer agent,
which is responsible for issuing new certificates. Transfer
agents are private companies that are not affiliated
with the State Controller's Office.
How may I reclaim my property once it is reported to the State Controller?
To reclaim your property, you must file a claim with the State Controller's Office. For every claim, a copy of your Social Security card and photo identification is required. For claims involving original instruments (i.e., passbook, stock certificate, money order, cashier's check) you must submit the instrument with your claim
You may be required to submit other evidence of ownership, such as your birth certificate, a Table of Heirship, or other documents to prove your ownership.
Mail all documents to the following address:
P.O. Box 942850
Sacramento, CA 94250-5873
For more information regarding how to file a claim,
please visit our Filing
Instructions page.
Can my funds be electronically transferred to my current bank account?
No, the State Controller's Office cannot transfer your unclaimed property funds to your current bank account.
Can I claim all of the funds in a jointly owned account?
If you file a claim for property that has joint ownership, payment of the claim is based on how the property ownership was originally established.
If the owners are listed as joint tenants, each owner is entitled to half of the property or both owners may claim all of the property together. If one of the owners is deceased, the other owner is entitled to all of the property.
If the owners are listed as owner/owner, each owner is entitled to half of the property or both owners may claim all of the property together. If one of the owners is deceased, the other owner is entitled to all of the property.
If the property is listed as "and/or," we will pay the entire amount of the property to whomever files a claim.
If I want to file a petition under California Code of Civil Procedure §1355 or serve other legal documents, whom should I contact?
Petitions, notice of hearings and service of other legal documents should be addressed to:
State Controller's Office
Legal Division
300 Capitol Mall, Suite 1850
Sacramento, CA 95814
(916) 445-3028
If I have had a name change, what kind of documents will be accepted as proof to claim property associated with my former name?
You will need to establish that you are the person whose name appears on the account. The following are examples of documents that can be used to prove your former name:
- Marriage Certificate
- Divorce decree
- Court document identifying the name change
- Citizenship documents
- Adoption papers
- Amended birth certificate
- Social Security card
- Driver's license
- Passport