Free money: How to find lost cash and accounts you're owed
About this time every year, I like to remind people to visit a few websites and get what’s rightfully theirs. Recently, Robert from Virginia called my national radio show to thank me for suggesting he search for lost money. He found out his deceased mother had $24,578 sitting in a bank account. He received the check in three weeks after proving he was heir to her estate.
A member of my staff helped her mother find over $5,000. She found two life insurance policies, retirement benefits, and rebates from utilities sitting unclaimed in her grandparents’ names for more than 20 years.
But if you get a call claiming you’re owed something, don’t fall for it; you have to do the work yourself. Spammers will use the lure of money to trick you. Tap or click for my best advice to stop robocalls for good. Keep reading for ways to find what you’re owed.
What is unclaimed property?
You’re going to be looking for any of your or a deceased relative’s old bank accounts, safe deposit box contents, uncashed checks, insurance policies, CDs, trust funds, utility deposits, stocks and bonds, wages and escrow accounts.
The best part: It’s free. And it’s yours. Helping everyday citizens claim lost money is one of the duties of the U.S. Treasury Department. You are entitled to those funds.
You don’t need to hire a dubious service or spend money to make money. If anyone asks for payment to help you find unclaimed property, ditch them. You can easily do it yourself.
KEEP WHAT’S YOURS: You pay your expensive internet bill every month. Is someone mooching? Tap or click for steps to spot thieves and secure your network.
Start in your home state
Finding money is pretty simple, but your search begins where you live. Each state has an independent treasury website, which has a special search function for unpaid dues. Don’t just Google the site. There are plenty of scammers on the internet, and phony websites are a definite possibility.
To find the link for your state’s treasury website, go to the National Association of Unclaimed Property site. Select your state or province.
Each state’s site is a little different, but follow the step-by-step instructions, enter your information and the database will do the rest. Often, the paperwork you need to complete to claim your money can be printed on these pages.
Didn't file taxes in 2018 or 2019? Use this new IRS website to get your coronavirus payment
The recently-passed CARES Act provides economic relief for citizens affected by job loss and instability caused by COVID-19. Aside from several high-profile rescue packages for businesses and industries, ordinary workers can look forward to stimulus checks of up to $1,200 per person and $2,400 for married couples.
4 ways to track down missing money you're owed
Somehow, money gets lost. We leave it in odd places, but given how hard we work for our paychecks, it’s hard to believe how easily we misplace our cash.
I’m talking about back wages, old 401Ks, bank failures, utility deposits, unclaimed life insurance, FHA refunds, undelivered tax refund checks – the list goes on and on, amounting to billions of dollars.