States Return Over $4 Billion in Unclaimed Property as Americans Still Hold $70 Billion
Updated
Updated · CNBC · Aug 25
States Return Over $4 Billion in Unclaimed Property as Americans Still Hold $70 Billion
1 articles · Updated · CNBC · Aug 25
Summary
$4 billion in unclaimed property was returned by states in the fiscal year ended last June, while Americans still had about $70 billion sitting unclaimed in 2023, according to NAUPA.
MissingMoney.com—used by nearly every state—lets people search nationwide for uncashed paychecks, forgotten rebates, inactive brokerage accounts and insurance benefits; pension claims may require going through the Pension Benefit Guaranty Corporation.
Claim rules vary by state and asset type, and owners must prove identity before receiving funds; if an owner's last known address is unavailable, property can be sent to a company's state of incorporation.
Financial therapist Megan McCoy said unexpected windfalls are often treated differently from regular income, making people more likely either to spend casually or cling to inherited assets for emotional reasons.
That makes the broader takeaway less about the search itself than the plan: any recovered money is best routed toward existing goals such as emergency savings, debt repayment or retirement investing.