California is sitting on $9.3 billion of unclaimed property and forgotten funds scattered throughout the state in bank accounts, uncashed employee checks, stocks, bonds and insurance benefits, according to the state controller’s office.
State law requires property holders to transfer dormant property to the controller’s office, usually after three years of inactivity.
In a push to notify private persons and businesses of their abandoned cash, California State Controller Betty T. Yee is urging residents to visit the office’s database to see if some of the 48 million properties, or a “lost pot of gold,” “have your name on them.”
“There’s no time like the present to see if there is any ‘green’ waiting for you at claimit.ca.gov,” she wrote in a statement.
The controller’s office reported that 33,000 people were reunited with $23.9 million in forgotten properties in February. More than 800 properties were reclaimed in San Francisco, nearly 600 in Fresno, 267 in Santa Ana and 215 in Pasadena.