What Happens to Unclaimed Money If No One Claims It?

Bryan Miller
Published Apr 1, 2025

If no one claims their unclaimed money, the government will turn it over to the state where it originated. Regardless of the type of asset, unclaimed money is a common occurrence, and it happens in a variety of different ways. For example, bank account balances typically make up the majority of unclaimed money. A person may move or die and leave their account balance untouched, but the bank will keep the account and accrue interest on it. Regardless of who owns the money, states are required by law to report their unclaimed assets.

A family member can claim unclaimed money if they are the beneficiary of a deceased relative. This includes money from life insurance policies, retirement accounts, safe deposit box contents, securities, utility deposits, and more. To qualify for the inheritance, the claimant must present a certified death certificate and any documents proving their relationship to the deceased. In some cases, the inheritance may go to the state, which is why it is crucial to file a claim as soon as possible.

If you have unclaimed property, you can find it with the assistance of an unclaimed money recovery agency. These companies handle unclaimed property on a commission basis. The best way to avoid claiming unclaimed money is to cash checks and use gift cards right away, as well as to regularly check your account annually to ensure you are not missing anything.

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