Category: Unclaimed Property
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Someone Else Has Already Filed a Claim on Your Property
The short answer 445,006 records in California’s unclaimed property file already carry a claim. Most were filed by the rightful owner. Some were filed by a relative who got there first, an heir who…
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Claiming Property Reported Under a Company That No Longer Exists
The short answer Property reported under a company that dissolved, merged or was acquired does not disappear with the company. The State Controller will pay it out, but only to a claimant who can…
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Your Shares Were Sold at Escheat. Here Is What You Actually Get.
The short answer California does not hold your shares. The State Controller is required to sell escheated securities no sooner than 18 months and no later than 20 months after they were due to…
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The 180-Day Clock Only Starts When Your Claim Is Complete
The short answer The State Controller allows itself up to 180 days to review an unclaimed property claim, but that clock only starts when it receives a complete package. A claim filed with missing…
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The Companies Holding California’s Unclaimed Money
Six companies alone account for well over a billion dollars in unclaimed California property, led by Bank of America ($374,586,485) and Wells Fargo (two separate reporting entities totaling $569,647,652). The pattern shows most money…
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Uncashed Payroll Checks and the Duty to Report Them
An uncashed final paycheck does not disappear when a business voids it and books the amount back to income. California law treats that wage as unclaimed property once it ages past the statutory holding…
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Claiming for Someone Who Died: Letters or Affidavit?
Which route applies depends on whether the estate has already gone through county probate. If it has, the property appears in the State's Estates of Deceased Persons File with a case number and is…
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What Happens to Safe Deposit Box Contents After Escheatment
When a bank turns over an abandoned safe deposit box, California's Controller does not store the objects inside it. State law requires the contents to be inventoried and sold at auction, so what the…
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What California’s Unclaimed Property File Actually Holds
California's unclaimed property file holds 14,800,558 records reported by banks, insurers and other businesses statewide, plus 37,166 probate estates. The largest single property category, checking accounts, accounts for $1,077,889,422. Bank of America and Wells…
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California’s Annual Unclaimed Property Report: Who Must File
California businesses that hold uncashed checks, unclaimed wages, or unrefunded customer credits are legally "holders" of unclaimed property and must file an annual report. Life insurers report before 1 May; all other businesses report…
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