Money that belongs to you might be waiting for you to be claimed at the State Unclaimed Property Division. California’s unclaimed property office and State escheats currently holds billions of dollars of “lost money” belonging to millions of people. In the State of California, the unclaimed property is because of approximately 8.2 million individuals and organizations. The particular State is the second biggest holder in unclaimed property trailing behind New York’s whopping $8.0 Billion. Moreover, the unclaimed program of the state takes in about $300 million every year. Total unclaimed money kept by the State of California is $5 Billion.
The unclaimed property of the State of California is managed by the State Controller’s Office under their Unclaimed Property Program. The State controller’s office has been restricted by the misguided State laws to contact the owners of more than eighty percent of all unclaimed property accounts sent to the State. In August 2007, the legislation was signed by the Governor for allowing the State Controller to send notices to the property owners before their property is transferred to the State. In Fiscal Year 2007-08, State Controller’s Office sent out 855,883 such notices. Consequently, 225,752 properties were claimed before they were even given into the custody of the State. Moreover, in this past fiscal year, the controller’s office sent out 950,332 notices.
How to Claim Unclaimed Property
You can perform an online search for locating Unclaimed Property that already has been sent to the State for custody. In addition to, the property that is about to be sent to the State by a business as required by law can also be searched. You can perform a search for unclaimed property of yours online through California Unclaimed Property Division; the online database provides three options for searching unclaimed property.
- Individual Owner Search
- Business/Government Search
- Property ID Search
Fill in the search fields with appropriate information and the database would display the results showing Name of the Owner, Address, City, ID number and Type of property. Note down the ID number as it would be required while claiming for the property.
How to Get a Claim Form
Click on the property ID number, if the search performed through online database provided by the California’s unclaimed property division is successful. Clicking on the ID Number would lead you to the “Property Details Screen”; there you can get a Claim Affirmation Form against that particular ID number clicked.
Instructions for Filling Out Claim Form
Documents to be attached with the claim form for claiming unclaimed property and instructions on how to fill the form are different if you are the Property Owner, Heir of the Deceased Owner of the property, Agent/Officer for the Business or Agent/Officer for the Government Agency.
All filling instructions should be followed closely in order to get your claim processed in an accurate and timely manner. If the California Unclaimed Property Division cannot t determine that you are the owner from the evidence you provide then you will either be contacted or you will be returned with your documents you submitted. The returned documents would be accompanied with a letter stating why the claim package is incomplete. The processing and payment of your claim would be delayed unless and until you provide all the details required for verifying if you are the rightful owner.
Where to Send Complete Claim Form
Once you follow the instructions on the Claim Affirmation Form, make sure that you print the form, sign it, and send it in to the concerning office along with the required documentation. Fill out the form, attach all required documents and send at;
Unclaimed Property Division
P.O. Box 942850
Sacramento, CA 94250-5873
You can search the records for getting details if you have any unclaimed property but the unclaimed property of yours cannot be filed online, via email, via fax, or other electronic format. You can email your queries to the California’s State Controller office or you can also dial (800) 992-4647 (Nationwide) or (916) 323-2827 (Outside of U.S).