California officials this week said the state government is holding $9.3 billion in unclaimed properties and urged residents to check an online database to see if they have a claim for long-lost money or valuables.
Unclaimed property can include uncashed checks, wages, stocks, safe deposit boxes and insurance benefits, among other personal valuables.
Residents and business owners can search the database and submit a claim at claimit.ca.gov or by calling 800-992-4647.
Some of the simpler online claims can be paid in as quickly as two weeks, state Controller Betty Yee said. There is no time limit or fee for filing a claim.
California’s Unclaimed Property Law requires banks, insurance companies, corporations, and certain other entities to report and submit their customers’ property to the State Controller’s Office when there has been no activity for a period of time, generally three years, according to the state controller’s website.
Before unclaimed property is sent to the state government for safekeeping, the Controller’s office mails annual notices in an effort to connect owners with their property.
Source: NBC Bay Area