NC is holding $1.4 billion in unclaimed property. Here’s how you can get your share
The North Carolina State Treasury Department has almost $1.4 billion in its unclaimed property fund, and some of the money may be yours to claim.
One in seven people in the U.S. has unclaimed property, according to the National Association of Unclaimed Property Administrators.
Luckily, the NCCash Program helps reunite North Carolina residents with their unclaimed money. From July 1, 2023 to June 30, 2024, the state returned more than $115 million in unclaimed property, according to nccash.com.
In fiscal year 2024, the average amount of money paid out in each claim was $800, the Unclaimed Property Division’s press office told The Charlotte Observer in an email. But several claims of more than $1 million have been paid out within the last couple of years, they said.
Here’s how to find out if the state owes you money.
What is unclaimed property?
According to nccash.com, “unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds, and contents of safe deposit boxes that typically have been abandoned for one to five years.”
Funds are turned over to the Department of State Treasurer after companies lost track of consumers due to incorrect addresses or missing information, the website says.
“The NCCash Program helps to protect the rights of individuals and entities by ensuring that money or other assets that have been forgotten, lost, or abandoned are safeguarded until returned to its rightful owner,” the press office told the Observer.
Money held in the NCCash program is invested, and funds are distributed annually to the State Educational Assistance Authority to provide grants, loans and scholarships to worthy students.
How do I know if I have unclaimed property in NC?
To check for unclaimed property in your name and file a claim, go to unclaimed.nccash.com and follow these steps:
Enter your last name or business name, and your first name. You can also narrow your search by entering the city and zip code you live in.
Click “Search,” then you can select the properties you want to claim.
Once you have selected all properties you want to claim, select “Continue To File Claim.”
Select your relationship to each property being claimed and click “File Claim.”
Enter your claimant information, including your name, address and Social Security number.
Click “Next” to file the claim.
You can also call the NC Cash call center at 866-622-2741 Monday through Friday, 8 a.m. to 5 p.m., and a representative will help you search the unclaimed property database and mail you a claim form if property is identified.
Can I file a claim for someone who died?
Yes, but you will need to contact the Clerk of Superior Court in the county that your relative lived in prior to their passing so they can help you get the appropriate documentation together to claim the property, nccash.com says.
Generally, the Unclaimed Property Division requires current, valid and legally enforceable documentation showing that the person claiming the property has the authority to do so on behalf of the decreased. The Clerk of Superior Court can help you figure out what that documentation needs to be.
How long will it take to process my claim?
Claims are typically reviewed and validated within 90 days, according to nccash.com. A claims specialist will email you if any additional information or documents are needed.
Why is the exact amount of my property not listed?
The exact dollar amount is listed only if the property is $100 or less, nccash.com says. Larger dollar amounts are not listed to protect the privacy of individuals with large amounts of money to claim. You can contact the NCCash call center at 866-622-2741 to find out the exact amount of money being held in your name.
How to check the status of your claim
You can check the status of your claim by entering your claim ID number at unclaimed.nccash,.com.
Your claim ID should be listed on the email notice you received when you initiated your claim.
How long do I have to file a claim?
There is no time limit for filing claims, because the state maintains unclaimed assets for the rightful owners forever, according to nccash.com.
What can I do if I’m owed money in another state?
You can perform a nationwide online search for unclaimed property on websites like MissingMoney.com, which is partnered with the National Association of State Treasurers.
Inspired by a story from The Sacramento Bee in California.
