Unclaimed Fund

Unclaimed funds are assets that have not been used for a long period of time or with unknown owners. These funds are then handed over to the government after a specific period of time, also known as a dormancy period.
Unclaimed Fund
3 min

Unclaimed funds are assets that have not been used for a long period of time or with unknown owners. These can include forgotten bank accounts, uncashed checks, dormant stocks, and other financial assets. If the owners cannot be located, these funds are eventually turned over to the government or state treasury after a specified dormancy period.

What are unclaimed funds?

Unclaimed funds are money or other items not claimed by their rightful owner often end up with the government if too much time passes. To get these items or money back, the person it belongs to needs to ask for it. If the items are part of someone's will, the person asking might have to show they have the right to them.

Key takeaways

  • Money that should be yours can help a lot when you’re trying to reach big money goals, like buying a house or something else that costs a lot
  • You might not think you have money out there waiting for you, or maybe just a little bit, but you could have a lot more than you realize

Why funds go unclaimed?

  • Someone might be owed money by the government but moved without telling them the new address
  • A person could have money in a bank that closed, and they don't know how to get their money back
  • A business might close down, leaving workers unsure of how to get their retirement money
  • An account owner dies and the bank doesn't know
  • People may just forget they have certain accounts
  • Unclaimed property is stuff that no one has asked about for a while after a bank says it's not being used. Usually, if nobody asks for the stuff within three to five years, the government can say it's been left behind.

Why care about unclaimed funds?

Money you haven't claimed but should have can help you reach big goals, like buying a house or making a large buy. The unclaimed money you have might not always be a lot but sometimes, it can really change your life.

You might think you have no unclaimed funds or just a tiny bit, but you could have a lot of money out there that you don't know about.

An media firm says many people have unclaimed pension fund money, which is important because it's money meant for when you retire. It's true, that not every case of unclaimed money will turn your life around — but even a small amount helps a lot.

How to find unclaimed funds?

If you want to find money that hasn't been claimed, a good way is to look up by state.

  1. Go to Unclaimed.org.
  2. Click on your state and type in your name.
  3. If it's for a company, type in the company name.

To find out about unclaimed tax money back, you need to speak to your state's tax office.

A lot of unclaimed money comes from tax refunds. If you were supposed to get money back from the government but didn't ask for it, it stays unclaimed. It's smart to file a tax return if money was taken off your wages for taxes or if you can get the Earned Income Tax Credit. The Tax Office might owe you money if you didn't get your refund or if it didn't reach you.

Sometimes, even if you asked for a refund, the check didn't get to you. These checks go to your last recorded address. If you moved and didn't tell the Tax Office or the Post Office, your check might have been sent back to the Tax Office. You can go to the Tax Office’s Where’s My Refund page to see if there's a refund waiting for you.

Right now, the US government doesn't have a single place for you to look for all your unclaimed cash or stuff. They don't keep a big list of unclaimed money across the country, and they don't track unclaimed money state by state, either.

If you're hunting for money or property that might belong to you, you'll probably need to reach out to the right state offices where the money or items might be.

Potential for taxes on unclaimed funds

When someone doesn't claim property, no tax is due. But, once it's claimed, it might be seen as taxable income, leading to a tax charge for the person. Some types of unclaimed money, like those in a 401(k) or an IRA, can be picked up without being taxed.

Not only does the government have unclaimed cash, but people might not use all the money on gift cards, have leftover money in bank accounts, or haven’t picked up pay from past jobs.

Also, those meant to get money from life insurance or investments often find unclaimed cash. Firms holding unclaimed funds should try to find the owner. If they can't, they must give it to the state or local government.


There are so many places where your money might be just sitting. You might have a good chunk of cash just waiting for you to claim it. It's key to grab any money you find because it can help you get to where you want to be with your money goals. How you use this found money depends on your own needs, and there are many ways it can help.

The Bajaj Mutual Fund Platform features multiple tools, from an online lumpsum calculator to a SIP calculator, intending to make mutual fund investment planning easier. The Bajaj Finserv Mutual Funds Platform, with over 1,000 mutual funds to choose from, can be the ideal place to begin your investment journey.

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Frequently asked questions

How do I check my unclaimed balance?
To check your unclaimed balance, you can typically visit the official website of your state's unclaimed property division or contact them directly. They usually provide an online search tool where you can input your details to see if there are any unclaimed funds in your name.
What is the best website to find unclaimed money?
There isn't a single "best" website for finding unclaimed money, as it depends on where the unclaimed funds are located. However, reputable sources include state government websites, national databases like MissingMoney.com, and official government resources such as USA.gov.
How do I find unclaimed mutual funds?
To find unclaimed mutual funds, you'll typically need to contact the financial institution or investment company where the mutual funds were held. Provide them with any relevant information about your account, and they can assist you in locating and claiming any unclaimed funds.
How do I claim unclaimed deposits?
To claim unclaimed deposits, such as those from bank accounts or utility deposits, you'll need to follow the specific procedures outlined by the institution holding the funds. This often involves submitting a claim form and providing proof of your identity and entitlement to the funds.
Can I check my balance online?
Yes, in many cases, you can check your unclaimed balance online. Most state unclaimed property divisions offer online search tools where you can input your information and see if there are any unclaimed funds in your name. Additionally, some financial institutions may provide online access to check the balance of unclaimed accounts.
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Bajaj Finance Limited (“BFL”) is an NBFC offering loans, deposits and third-party wealth management products.

The information contained in this article is for general informational purposes only and does not constitute any financial advice. The content herein has been prepared by BFL on the basis of publicly available information, internal sources and other third-party sources believed to be reliable. However, BFL cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed. 

This information should not be relied upon as the sole basis for any investment decisions. Hence, User is advised to independently exercise diligence by verifying complete information, including by consulting independent financial experts, if any, and the investor shall be the sole owner of the decision taken, if any, about suitability of the same.