California Holds $15 Billion in Unclaimed Money — Are You Missing Out?

California is sitting on roughly $15 billion in unclaimed property, including cash, valuables, and forgotten accounts that belong to residents, businesses, and nonprofits.

While other states have started automatically returning funds, California still mostly relies on individuals and organizations to search for their money.
 

Who’s Affected?

Many nonprofits and charities are unaware of funds owed to them:

• California food banks: at least $95,000

• Children’s hospitals: at least $1.3 million

• Make-A-Wish Foundation: more than $46,000

How California Compares to Other States

Some states automatically return unclaimed funds once ownership is verified:

• North Dakota: Checks for unclaimed property up to $1,000

• Pennsylvania (Money Match): Sends payments up to $500 after verifying identity

• South Carolina (Palmetto Payback): Similar proactive program

Other states like New York, Mississippi, Washington, Oregon, Connecticut, and Virginia have also adopted automatic return systems.

California, by contrast, currently requires people to search the database themselves.
 

What California is Doing

State Controller Malia Cohen has begun modernizing systems:

• Notices mailed for property valued $50 or more

• Prescreening letters for property between $500 and $5,000 sent to nearly 100,000 individuals

• More than $25 million returned to 22,000 people so far

Controller Cohen says an automatic return program is being developed, but legislation stalled last year and is expected to move forward soon.
 

How to Check for Your Money

California residents and organizations can search the state’s unclaimed property database to see if funds are waiting:

• Forgotten bank accounts

• Insurance payouts

• Uncashed checks

• Security deposits

• Overpayments

• Family heirlooms or valuables

About one in three people who search the database find property in their name.

Search California’s Unclaimed Property Database: https://ucpi.sco.ca.gov/

Even small amounts can make a difference—especially for nonprofits and families relying on these funds.

California is starting to take action, but proactive searches remain the best way to reclaim what’s rightfully yours.

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