Unclaimed property is intangible financial assets that have been dormant for a statutorily defined amount of time. Businesses, courts and government agencies often end up holding money that rightfully belongs to another company, government, or individual who has never received or claimed the funds. These assets can take many forms, such as forgotten bank accounts, uncashed payroll or vendor checks, stocks, bonds or other securities, insurance claims, bankruptcy proceeds, safe deposit box contents, etc.

Financial assets can become lost for many reasons and are often remitted to the government under legal reporting requirements. Businesses holding these assets must attempt to contact the rightful owners, usually by mail, to inform them of the existence of the unclaimed assets. However, these efforts often reach a dead end, leaving individuals and corporations unaware of the unclaimed property waiting for them. 

So why do these efforts fail? A variety of factors, ranging from simple human error to corporate complexities. Common reasons include: 

Yes, anyone who is the rightful owner, heir, trustee, or an authorized business representative can claim unclaimed property, provided they have sufficient proof of ownership. This typically requires providing supporting documentation linking the individual or business to the asset being claimed. Acceptable proof may include a utility bill, bank statement, void check, or government-issued ID (e.g., driver’s license or passport).

Yes, official unclaimed property websites maintained by government agencies are legitimate and free to use. These databases collectively hold billions in unclaimed property worldwide. However, they often have limited search capabilities, basic functionality, and unstructured data, making it challenging to locate and claim specific assets. In some cases, the data is not in a searchable database. As a result, individual or corporate searches often come up short. Advanced AI and machine learning tools we employ take search accuracy to the next level, uncovering assets that might otherwise remain undiscovered through government platform searches alone.

If you’re looking for the optimal, no-risk approach with the highest chance of success, you’ve come to the right place. When you utilize the AssetFynd search and recovery technology, you benefit from advanced AI and machine learning capabilities. Here’s why that matters:

• We’ve spent considerable time and resources gathering unclaimed asset information from hundreds of sources worldwide.

• Our sophisticated search algorithms and processes have been engineered to quickly and efficiently search all available domestic and international databases.

• We employ advanced processes to establish both historical business ownership and current corporate lineages, fixing errors in names and addresses to identify matches from incomplete asset records. Research into corporate histories dramatically expands the search parameters.

• We continuously update our data, allowing real-time searches as source data refreshes at different intervals.

• Our streamlined claim processes make it easy to prepare and file claims, even when asset values are unknown or in a multi-asset claim, maximizing returns.

• Our experienced process management solution automates searches and keeps the process simple for the client. You simply sign the claim forms to start the process.