Florida could owe you unclaimed money: Here's how to find out

Lianna Norman, Palm Beach Post
Updated ·3 min read

You might have a dormant bank account or unclaimed assets and the state of Florida may be willing to pay, or get your stuff back to you.

The state's Chief Financial Officer Jimmy Patronis's office has about $2 billion in unclaimed property from inactive bank accounts, insurance and utility companies and trust holdings.

Ever lost something of value? You could get paid for that, too. Unclaimed properties aren't just pools of money sitting in inaccessible or forgotten accounts, they can be tangible assets as well.

Here's how you can find out if you have a forgotten safe deposit box or bank account waiting to be turned into cash.

What is unclaimed property and who keeps track of it?

Any property or financial asset that has been dormant or hasn't seen activity for a year or longer is considered "abandoned," or unclaimed property and is turned over to the state's department of financial services.

According to the Florida Department of Financial Services, one in five Floridians have unclaimed funds from a forgotten financial account. The value of unclaimed properties are deposited into the state's school fund where they are held until someone claims them.

Here's a list of intangible unclaimed properties that you can claim for a payout:

  • Checking or savings accounts

  • Stocks

  • Uncashed dividends or payroll checks

  • Refunds

  • Traveler’s checks

  • Trust distributions

  • Certificates of deposit

  • Customer overpayments

  • Utility security deposits

  • Mineral royalty payments

  • Contents of safe deposit boxes

  • Insurance payments or refunds and life insurance policies

  • Annuities

Here are some examples of tangible unclaimed properties:

  • Safe deposit box contents

  • Watches

  • Jewelry

  • Coins

  • Currency

  • Stamps

  • Historical items

You may have money coming to you: Where to look for unclaimed accounts that belongs to you.

How to search for your unclaimed property

You can search for any unclaimed properties you may have in the state of Florida with the department of financial services' treasure hunt search tool.

You can search with a business name or with an individual's first and last name, with options to narrow down your search with a middle name, city and ZIP code. If your search yields a result, you can file a claim. To file a claim, you'll need current government-issued identification that reflects your current mailing address, like a driver's license or passport, and documentation to prove ownership or the account you're claiming.

How long does it take to get paid after claiming your unclaimed property?

Once you file a claim, which must be done by mail, it could take the department up to 90 days to process your claim and let you know whether you will be reimbursed. Claims don't typically take a full 90 days to process, but can if the department is receiving a high volume of claims in a short period of time.

You can check to see if the department has received your claim once it's filed using the treasure hunt search tool.

This article originally appeared on Palm Beach Post: Missing money in Florida? Unclaimed property list could have your cash