February 1st Was National Unclaimed Property Day

February 5, 2024

Around 10% of Americans have unclaimed property, and that equals almost 33 million people. Since 2021, the National Association of Unclaimed Property Administrators (NAUPA) has been celebrating February 1st as National Unclaimed Property Day. The goal of this celebration is to increase awareness for the amount of unclaimed property in the U.S. and help people get reunited with their lost property.

Whether it’s money or physical items, having unclaimed property could mean that people are missing out on value that rightfully belongs to them. There are a couple of specific themes the Administrators use, including “Reunite with Your Money” and “The Odds Are Greater with Unclaimed Property.” Both themes are focused on showing people with reuniting with property can be like reuniting with someone they love, and that checking to see if you have unclaimed property is worth doing.

Every state has a program to help people find unclaimed property, as does the District of Columbia. This property can include things like family heirlooms, and may also include stocks, bonds, uncashed paychecks, and the contents of safe deposit boxes. For the 2019 fiscal year, NAUPA records show that $3.14 billion of unclaimed property was returned to rightful owners. The average amount of a person’s claim was $1,780.

When a state takes in unclaimed property they return about 50% of it, and the more information they have on the property the more that percentage goes up. That’s why it’s so important to keep good records, because it increases the likelihood of finding unclaimed property and making sure it’s returned to the people who own it or those who should inherit it.

It’s free to retrieve this property, too, so there’s no reason for people not to check and see if they have any property that belongs to them and hasn’t been claimed. Administrators and State Treasurers understand that getting this property back to the people it belongs to can have a significant impact on their lives, and help them address financial challenges. Even a small windfall can make a big difference in the quality of a person’s life.