Millions of dollars in unclaimed money are waiting to be reunited with their rightful owners in California. The State Controller’s Office is responsible for safeguarding these assets and returning them to individuals, businesses, and organizations. If you believe you may have unclaimed funds in California, understanding the claim process is the first step to recovering your money.
The review process for unclaimed property claims can take time to ensure accuracy and legitimacy. Generally, the State Controller’s Office advises that it may take up to 180 days from the date they receive a complete claim package to thoroughly review all documentation and make a determination. For claims involving only cash, the processing time can be shorter, potentially ranging from 30 to 60 days. However, more complex claims require more in-depth review. This includes claims filed by heirs, claims involving multiple owners, businesses, or those involving securities. These complex claims typically fall within the 180-day processing timeframe.
For claims involving securities, an additional processing period is necessary after the initial claim approval. This is due to the required research to assess any corporate actions, such as mergers, acquisitions, stock splits, or dividends that might have occurred while the state held the security. While the majority of security claims are paid within 120 days, those requiring extensive research may take longer.
To assist you with any questions or issues related to your claim, the Unclaimed Property Call Center is available at (800) 992-4647 for nationwide calls and (916) 323-2827 for calls outside of the U.S. They are available from 8 a.m. to 5 p.m. Pacific Time, Monday through Friday, excluding state holidays.
For mailing claims or general inquiries, you can reach the Unclaimed Property Division at P.O. Box 942850, Sacramento, CA 94250-5873.
For public counter service and overnight mail, the Unclaimed Property Division is located at 10600 White Rock Road, Suite 141, Rancho Cordova, CA 95670.
California’s Unclaimed Property Law mandates that corporations, businesses, associations, financial institutions, and insurance companies report and remit property to the State Controller’s Office annually. This is required after a period of inactivity or lack of owner contact, typically three years, as specified by law.
Businesses with questions about reporting unclaimed property can visit the Reporting Contact page for further assistance.
For service of legal documents or petitions to recover escheated property under CCCP §1355, please contact the State Controller’s Office – Legal Division at 300 Capitol Mall, Suite 1850, Sacramento, CA 95814.
