How to Locate an Unclaimed Bank Account
Multiple agencies regulate the distribution of unclaimed bank accounts from U.S. financial institutions. The Federal Deposit Insurance Corporation controls unclaimed deposits from failed banks; the Securities and Exchange Commission releases guidelines on unclaimed accounts held at registered investment advisers; and individual state banking regulators handle unclaimed accounts from operating banks. Locating an unclaimed bank account can be a time-consuming process, but many government websites can assist in your search.
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Instructions
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Conduct a general search through the National Association of Unclaimed Property Administrators website. You must conduct a search within a specific state so multiple searches may be required to locate your unclaimed accounts. Most unclaimed accounts held at brokerage companies will be identified through this database.
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Visit the Conference of State Banking Supervisors Directory of States to identify the point of contact for unclaimed property in your state. These contacts may only have information concerning unclaimed bank accounts for existing, operating banks.
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Use the FDIC unclaimed funds search page to find an unclaimed account from a failed financial institution. These accounts were collected by the FDIC through the process of bank reorganization stemming from a bank failure.
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Provide proof of identification to access the funds from the account once you locate an unclaimed account. For large dollar amounts a notary or signature guarantee is required to access your money.
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Tips & Warnings
Since each state administrator has a different process for claiming funds, be sure to follow the specific procedure as outlined on the website for your particular state. Watch out for close matches to your name such as first initial rather than first name or first and middle names rather than first and last names.
