More than $15 billion in unclaimed property is currently being held by the State of California, and officials are encouraging residents to check whether some of that money belongs to them.
February 2026 has been designated as Unclaimed Property Month in California. State Controller Malia Cohen, alongside Assemblyman Avelino Valencia, announced the initiative following the adoption of Assembly Resolution 79. The goal is to raise public awareness and encourage Californians to search for assets that may have been lost, forgotten, or left inactive over time.
The program is administered by the California State Controller’s Office, which reports that it is safeguarding more than $15 billion in unclaimed property. In total, the office holds over 84 million individual properties that could potentially be returned to nearly 39 million people.
Program
California’s Unclaimed Property Program has been in place since 1959. It is designed as a consumer protection measure.
Under the law, businesses and financial institutions must turn over property to the state if they lose contact with the rightful owner for a specified period of time. Rather than keeping the assets indefinitely, companies are required to transfer them to the State Controller’s Office for safekeeping.
The state then holds the property until the owner or heir files a valid claim.
Assets
Unclaimed property can take many forms. It is not limited to traditional bank accounts. According to the Controller’s Office, examples include:
- Dormant savings or checking accounts
- Uncashed payroll or refund checks
- Stocks and bonds
- Insurance benefits
- Utility deposits
- Safe deposit box contents
In some cases, the value may be modest. In others, it can amount to thousands of dollars, depending on the type of asset and how long it has remained unclaimed.
Below is a snapshot of the scale of the program:
| Category | Estimated Figures |
|---|---|
| Total Value Held | Over $15 billion |
| Individual Properties | 84+ million |
| Potential Owners | Nearly 39 million Californians |
Each year, the state returns hundreds of millions of dollars to individuals, businesses, and heirs who successfully verify ownership.
Notices
Some Californians may receive official notices indicating that property may belong to them. These notices typically include a Claim ID and instructions for completing the process.
If you receive such a notice, you are part of the state’s effort to reconnect owners with their assets. In these cases, officials advise using the secure link provided in the notice to submit your claim.
There are also situations where individuals must take the initiative to search for their property independently. Not everyone receives a direct notification, particularly if contact information is outdated.
It is important to follow instructions carefully and rely on official state communication channels when filing a claim.
Eligibility
Anyone who previously lived or conducted business in California could potentially have unclaimed property on file. The program is not limited to current residents.
Former residents, businesses, heirs, and beneficiaries may also qualify to file a claim if they can provide documentation verifying their identity and connection to the property.
The claims process generally requires:
- Proof of identity
- Proof of address or ownership connection
- Supporting documentation if filing on behalf of a business or deceased individual
Once submitted, the Controller’s Office reviews the documentation before issuing payment.
Process
State officials are encouraging residents to visit the official website, claimit.ca.gov, to search for their name or business.
The search tool allows users to look up potential matches in the state’s database. If property is found, claimants can follow the outlined steps to submit documentation electronically or by mail.
The state does not charge a fee to search or file a claim directly through its website. Residents are advised to be cautious of third-party services that offer to file claims for a percentage of the returned funds.
Unclaimed Property Month aims to increase awareness and improve participation in the program. With more than $15 billion currently held by the state, officials say many Californians may be unaware that funds or assets are waiting to be claimed.
Taking a few minutes to check the database could result in the recovery of money that rightfully belongs to individuals, families, or businesses. As state leaders continue outreach efforts, the initiative underscores a simple message: if property is yours, California wants to return it.
FAQs
How much unclaimed property is in California?
More than $15 billion is currently held.
What types of property are included?
Bank accounts, checks, stocks, and more.
Is there a fee to file a claim?
No, filing directly with the state is free.
Who can file a claim?
Residents, former residents, heirs, and businesses.
