Almost 500 Banks in the US failed in the last few years. Many Bank branches have been closed and sometimes account holders are difficult to locate primarily due to address changes. Many of these assets are unclaimed. If you or a descendant had such an account, the assets were probably insured by the FDIC. The FDIC currently insures accounts up to $250,000. You can receive full information at FDIC.gov. We've provided FDC Unclaimed Funds information in the following pages. You can also obtain information on failed Credit Unions at NCUA.gov.
The Federal Deposit Insurance Corporation (FDIC) provides deposit insurance to financial institutions and depositors of these institutions. If a financial institution is closed, by a regulatory agency, the FDIC is appointed as Receiver and is responsible for the payment of insured deposits and the liquidation of the remaining assets.
When a failed financial institution (bank or savings and loan) with federal deposit insurance is liquidated, the FDIC resolution division is responsible for paying:
Unclaimed insured deposits up to the insurance limit
Dividends declared on excess deposits over the insurance limit
Dividends declared on general creditor claims
Funds distributed to the shareholders of the failed institution
In many instances these funds remain unclaimed because:
The insured deposit is never claimed from the assuming financial institution
The dividend check on the excess deposit amount is not cashed
The dividend check on the general creditor claim is not cashed
The check to the shareholder is not cashed
A valid address is not on file and the dividend check has been returned to the FDIC
Unclaimed Deposits may include any item or negotiable instrument deposited in or issued by an FDIC Insured financial institution including checking or savings accounts, cashiers checks, official checks, money orders, Certificates of Deposit, IRA Accounts, and others collectively referred to as "deposits".
Deposits are considered unclaimed if the rightful owner did not assert, in an approved manner, that the funds belonged to them within 18 months after the failure of the financial institution.
After the statutory 18 months period has expired, in order to comply with federal law, the FDIC ultimately transfers custody of these funds to the State or Territory of the depositor's last known address which displayed on the failed institution's records.
How to claim your funds:
If you find your name, and you had funds in the referenced financial institution, please complete the attached form, have it notarized, and mail it to FDIC per the instructions below.
Print or download the FDIC Claimant Verification form. Use the print function in your browser to print the form. Then, complete the form by filling in the requested information in pen. Please include the FDIC Reference # obtained from the on-line database (next to your name).
Have the completed form notarized by a notary public.
Mail completed, notarized form to:
Attn: Claims Department - Unclaimed Funds
1601 Bryan Street
Dallas, Texas 75201
Be sure to include the FDIC Reference # obtained from the on-line database.
You will be notified by an FDIC representative within 30 days of receipt of form. You may be notified in writing, by phone, or by receipt of check. If you have further inquiries, you may contact FDIC via (FDICUnclaimed@FDIC.gov ) E-Mail inquiries for status of claim.
Transfer to Search
The Unclaimed Money Database is a Fast and Easy Way to See if you have Missing Money that is being held by the Government. You'll instantly search the National Unclaimed Property database. You can also be connected to every State's Unclaimed Property Agency so you can contact them by email or telephone to receive personal service in retrieving your money.
Remember the service is Free and there is a 30% chance that you'll find some Missing Money.