California com government insurance law

You may be one of millions of Californians owed money by the State!

The State of California is currently in possession of more than $8 billion in Unclaimed Property belonging to approximately 32.5 million individuals and organizations.

The State acquires unclaimed property through California's Unclaimed Property Law, which requires "holders" such as corporations, business associations, financial institutions, and insurance companies to annually report and deliver property to the Controller's Office after there has been no customer contact for three years. Often the owner forgets that the account exists, or moves and does not leave a forwarding address or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property.

What's New: Did you receive an unclaimed property notice like this earlier this year and fail to contact the related business by the June 1 deadline? Don’t worry – You’ll be able to claim the property here within the next couple of months. The Controller's Office sends out unclaimed property notices annually in an effort to connect rightful owners with property before it is sent to the State for safekeeping. There is no time limit on when you can claim it.

New eClaim Service: You may be eligible to file your claim online if:

  • You are the only owner listed for the property; and,
  • The property value is less than $5,000.

Note: Some properties such as cashier’s checks, money orders, royalties and safe deposit box contents cannot be claimed online, because they require additional proof of ownership to safeguard your property.

This new online feature can allow your claim to be processed more quickly than traditional paper claims, with payment generally issued within 14 days.

  • Bank accounts and safe deposit box contents
  • Stocks, mutual funds, bonds, and dividends
  • Uncashed cashier's checks or money orders
  • Certificates of deposit
  • Matured or terminated insurance policies
  • Estates
  • Mineral interests and royalty payments, trust funds, and escrow accounts.

The Unclaimed Property law was enacted to prevent holders of Unclaimed Property from using your money and taking it into their business income. This law gives the State an opportunity to return your money and provides California citizens with a single source, the State Controller's Office, to check for Unclaimed Property that may be reported by holders from around the nation. To find out if any of this money belongs to you, search our Unclaimed Property Database.

* California Unclaimed Property Law does NOT include real estate property.

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