Bank of America Unclaimed Property Held by California

• Bank of America has turned over 563,607 unclaimed property records to California, worth a combined $991,565,180.
• 16,011 of those records are worth $10,000 or more; the average record is worth $1,759.
• Checking accounts, savings accounts, and cashier's checks make up the three largest categories by value.
• California places no deadline on claiming this money; it is held until an owner or heir comes forward.
• A recovery fee for property reported under §1530, which covers bank holdings like these, cannot exceed 10 per cent of what is recovered.

How much Bank of America unclaimed property is sitting with California?

Bank of America has reported 563,607 unclaimed property records to the California State Controller, with a combined value of $991,565,180. The average record is worth $1,759, but the range is wide: 16,011 of these records are each worth $10,000 or more. Some of this money has sat with the State for years, and some was reported more recently. None of it has an expiration date.

These figures come from the State Controller’s own published holder files. They reflect money and property that Bank of America was legally required to report and remit because an account or instrument went inactive and the bank could not locate or reach the owner.

What kinds of Bank of America property most often go unclaimed?

The largest categories by both count and value are ordinary deposit accounts, not exotic instruments:

• Checking accounts — 129,029 records, $328,239,254
• Savings accounts — 56,779 records, $169,373,412
• Cashier’s checks — 110,667 records, $164,075,387
• Outstanding official checks — 41,859 records, $96,245,952
• Matured CDs or savings certificates — 5,119 records, $64,921,957
• Customer overpayments — 48,193 records, $26,682,942

A cashier’s check or an outstanding official check often means a transaction was completed but the check itself was never cashed or deposited. A matured CD means the term ended and the funds were never withdrawn or rolled over. In each case the bank holds the money until a reporting deadline passes, then sends it to the State rather than keep it indefinitely on its own books.

Why would Bank of America send my money to the State instead of keeping it?

California law requires holders of inactive property, including banks, to report and remit it to the State Controller after a period of dormancy, rather than retain it. Most businesses file their notice report before 1 November each year and remit the property the following 1 to 15 June (State Controller, Report Unclaimed Property). Bank of America’s hundreds of thousands of records reflect this routine, recurring compliance obligation across a large customer base, not any wrongdoing on the bank’s part or yours.

Once the Controller takes custody, the bank’s obligation ends and the State’s begins. The State does not spend or absorb the money; it holds it under the owner’s name until claimed.

Is there a deadline to claim money that Bank of America reported?

No. California holds unclaimed property indefinitely until the rightful owner, or their heir, comes forward (State Controller, Unclaimed Property). There is no 24-month or other waiting period that bars a claim, and no date after which this money becomes unclaimable. The one exception, which does not apply to ordinary bank holdings like these, is an estate that has been permanently escheated to the State; that money has already passed to State ownership and cannot be claimed by anyone.

What does it cost to get this money back?

Property reported under Code of Civil Procedure §1530, which covers the kind of bank accounts and checks listed above, is subject to a hard cap: a recovery fee may not exceed 10 per cent of what is recovered (CCP §1582(a)(2)(C)). That cap does not extend to estates that reach the State through county probate, which are a separate category governed by the Probate Code, but it does apply squarely to Bank of America deposit and check records.

No fee may be collected before the Controller approves the claim and pays the owner. Our fee is 10 per cent of what is recovered, charged only after the State has paid, and nothing if nothing is recovered. Any agreement must be in writing, must disclose the nature and value of the property and the address where you could otherwise claim it directly, and you may challenge the agreement at any time if you believe the fee is excessive.

How do I check whether any of this is mine?

The fastest way to know is to search by name. We index 14,639,722 State Controller property records, which include Bank of America’s reported holdings alongside every other reporting institution in California. If a match turns up, the next step depends on whether you are claiming in your own name or as an heir or executor of someone who has died, and what documents the State will want to see.

Start with a search. If you find a record, our how-to-claim guide walks through what happens next, including the documents the Controller typically requires and a realistic timeline for review. If the account belonged to someone who has since passed away, the heir or executor path is the one to read first.

Questions People Ask

Figures on this page are from our copy of the State Controller’s published file as it stood on 2 October 2026. The State republishes the file weekly, so current totals will differ. Search is always against the latest copy.