Feb. 1 was National Unclaimed Property Day, which means if you haven’t checked to see what unclaimed property you are owed, now is the time to do so.
If you don’t know what this means, how to find out what you might be missing out on and how to claim it, we’re here to help.
What is unclaimed property?
Abandoned or unclaimed property includes uncashed paychecks, refunds and traveler’s checks; money left in old bank accounts; uncollected insurance payments; forgotten stocks and dividends; unreturned utility deposits, and unused balances on gift cards.
Each year, businesses are required to turn over these amounts to their states after a certain number of years if contact is lost between the property owner and the holder of the property.
Delaware returned over $155 million in cash and securities to owners during fiscal year 2024. The state has returned over $1.7 billion to owners in the last four years, reports Delaware’s Office of Unclaimed Property.
How to check if you have unclaimed property in Delaware, other states
Delawareans can check if they have unclaimed property held by Delaware or another state through Delaware’s unclaimed property website at unclaimedproperty.delaware.gov or at MissingMoney.com to search through 49 states at once.
MissingMoney.com is free to use and provides information and direct links to help unclaimed property owners begin the claims process. This website directly integrates with Delaware’s claims processing database for current information about unclaimed property.
Depending on the type of property, owners may need to submit a claim or additional documentation to proceed, said Delaware’s Office of Unclaimed Property.
New properties are added daily, so it’s wise to make a habit of checking on National Unclaimed Property Day and at least a few times before Feb. 1 rolls around next year.
The office also suggests that Delawareans keep an eye on their mailboxes this time of year for owner notification letters, which companies or holders of unclaimed property are required by law to send to each unclaimed property owner’s last known address before reporting the property to the state.
Delaware has a spring reporting deadline of March 1, so residents might be able to avoid the escheatment of their property if they quickly respond to these letters.
For assistance with claiming property, claimants can call (855) 505-7520 Monday through Friday from 8 a.m. to 4 p.m.
Got a tip or a story idea? Contact Krys’tal Griffin at kgriffin@delawareonline.com.
