Finders Keepers, Losers Keepers!

$32.8 billion.

That’s the dollar amount put on unclaimed property in state custody, according to the National Association of Unclaimed Property Administrators (NAUPA).

Is there a forgotten or lost treasure out there with your name on it? It would be a shame for it to sit in the “Unclaimed” file when you could use a new refrigerator or set of tires. Why not do a bit of online investigating? For just about every type of unclaimed property, there’s a government department out there ready to host a reunion party.

But back to that $32.8 billion. All states (as well as territories and the District of Columbia) have programs that help match owners with lost/forgotten property. These assets include savings/checking accounts, stocks, insurance payments and many other monetary gains gathering dust outside your wallet. The NAUPA website takes you to every state’s lost and found department. Check it out and you just may have a check coming your way.

And that’s just one source of money waiting to be found and claimed.

Savings Bonds. Have you ever had a savings bond? Maybe you had one and forgot about it or never knew you had it. (It was given to you as a gift at a young age or you inherited it). The U.S. Treasury has over $16 billion* in mature U.S. savings bonds that have yet to be redeemed. These are only Series E bonds issued in 1974 and after. To check for your possible E bonds, or other bond types, go to the U.S. Treasury’s database with the perfect name: Treasure Hunt.

Closed Account. Did you have an account with a bank or savings and loan that was closed by a regulatory agency between January 1989 and June 1993? Unclaimed insured (by the Federal Deposit Insurance Corp-FDIC) deposits are available as long as the institution is still under FDIC receivership. If the U.S. Postal Service had your dividend check returned as undeliverable (perhaps you moved), you may have a claim for an uninsured deposit portion from that ’89-’93 period. Are you on the unclaimed list? Find out here.

Why does the date stop at 1993? There was a change to laws in the mid ‘90s. Since then, when a bank fails, unclaimed funds left 18 months after closing are returned to the FDIC. The FDIC then turns it over to the individual state’s unclaimed property bureau.

Tax Refund. Government tax refund. A government agency (U.S. Postal Service) tasked with delivering it. A refund check lost. Conspiracy? Not likely, but if you had a tax refund check either lost in the mail or labeled as undeliverable, the IRS has a search tool to help you get any unclaimed checks. It’s called, Where’s My Refund?

Have questions about a state refund? You’ll have to deal with the state directly, and it will include only the refund from your most recent tax return.

Pensions. Did you work for a company that provided a pension but went out of business? If you haven’t heard anything about that pension, the Pension Benefit Guaranty Corp. has a site for you. Check the missing participants listing.

This site does not include information for 401(k)s, profit-sharing plans or IRAs. For those plans, try the website of the National Registry of Unclaimed Retirement Benefits.

Do you have unclaimed money floating around out there? You just might, and all it takes to check it out is a little time. Why not put off watching your recording of American Idol for a few minutes and hit the computer. It could quite literally pay off!

If you do find some unclaimed cash with your name on it, and you’re not sure what to do with it, why not look into an investment? It’s a smart thing to do! Talk to a Vantage investment professional about your best options.

<sub>* Bureau of Public Debt

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.</sub>