Millions of dollars are waiting to be claimed in California. Every year, businesses and organizations across the state report vast sums of money and property that belong to individuals and businesses who may have forgotten about them. This “unclaimed property” could be yours, and the California State Controller’s Office is responsible for reuniting these assets with their rightful owners. Are you wondering if you have California Lost Money? This guide will walk you through the process of understanding and reclaiming unclaimed property in California.
Understanding Unclaimed Property in California
California’s Unclaimed Property Law mandates that corporations, businesses, financial institutions, and insurance companies must annually report and remit property to the State Controller’s Office if there has been no owner activity or contact for a specified period, generally three years. This property isn’t just limited to cash; it can include stocks, bonds, uncashed checks, insurance payouts, and the contents of safe deposit boxes.
Why does money become “lost” or unclaimed? Often, it’s due to simple oversights: people move and forget to update their addresses with banks or investment firms, accounts are forgotten over time, or inheritances are left unclaimed. Whatever the reason, the State of California acts as a custodian, safeguarding these assets until the rightful owners come forward.
Claiming Your Unclaimed Property in California
The process of claiming your california lost money involves filing a claim with the State Controller’s Office. While the volume of claims is substantial, the state is committed to processing each one thoroughly.
To ensure your claim is processed efficiently, it’s crucial to submit a complete claim package. The review process can take up to 180 days from the date the State Controller’s Office receives your complete documentation. However, claims involving only cash can often be processed faster, sometimes within 30 to 60 days. More complex claims, such as those from heirs, claims with multiple owners, or those involving businesses, typically require the full 180-day period.
For claims involving securities like stocks and bonds, an additional processing time is necessary after approval. This is because research must be conducted to assess any corporate actions (mergers, acquisitions, stock splits, dividends) that might have occurred while the state held the security. Most security claims are paid within 120 days, but those needing extensive research may take longer.
Contacting the Unclaimed Property Division
If you have questions or need to resolve any issues regarding your claim for california lost money, the Unclaimed Property Division offers several avenues for assistance:
Unclaimed Property Call Center
For immediate assistance, you can contact their call center:
- (800) 992-4647 (Nationwide)
- (916) 323-2827 (Outside of U.S.)
The Call Center is available from 8 a.m. to 5 p.m. Pacific Time, Monday through Friday, excluding state holidays.
Mailing Claims & General Information
You can mail your claims and general inquiries to:
Unclaimed Property Division
P.O. Box 942850, Sacramento, CA 94250-5873
Public Counter & Overnight Mail
For in-person service or overnight mail delivery, use the following address:
Unclaimed Property Division
10600 White Rock Road, Suite 141, Rancho Cordova, CA 95670
Legal Inquiries
For service of legal documents, such as Petitions to Recover Escheated Property under CCCP §1355, contact the Legal Office:
State Controller’s Office – Legal Division
300 Capitol Mall, Suite 1850, Sacramento, CA 95814
Don’t let your california lost money remain unclaimed. Take action today to investigate and reclaim what is rightfully yours. Contact the California State Controller’s Office and begin your claim process now.
