We have millions in unclaimed funds

What is unclaimed property?

Mostly, it's money. Financial institutions, insurance companies and corporations must report bank accounts, contents of safe deposit boxes, wages, insurance benefits, security deposits, stock dividends and other funds to the Comptroller of Maryland if they remain unclaimed for three years or more. Unclaimed property does not include real estate, boats or cars.

How many accounts are there?

The Comptroller of Maryland has records on nearly 714,000 accounts, dating back to the 1960s. These accounts are worth approximately $580 million, and more money is reported to the Unclaimed Property Unit each year.

How can I find out if some of this money belongs to me?

The quick and easy way is to check our Web site any time, 24 hours a day, seven days a week. You can also conduct a nationwide search by state using www.naupa.org or www.missingmoney.com. We also advertise the names of the most recently reported accounts once a year in newspapers all over Maryland. In addition, you can contact the Unclaimed Property Unit by e-mail at unclaim@comp.state.md.us or by phone at 410-767-1700 (from the Baltimore area) or 1-800-782-7383 (from outside the Baltimore area).

If I find unclaimed property in my name, how do I claim the money?

Download a claim form from either www.marylandtaxes.com or www.missingmoney.com. Send the completed claim form, along with the documents noted in and the funds will be sent to you.

Will I need documents besides the claim form?

You will need documents proving your identity and connecting you with the account involved. If you are an heir, or are making a claim in a representative capacity, you will need appropriate documentation of your status or authority.

Is there a fee for finding out if I have unclaimed funds in the comptroller's records?

No. The Comptroller of Maryland does not charge a fee for searching its records or for helping you claim your money.

What if someone offers to find unclaimed money for me for a fee?

Call our office first. If you sign an agreement to have someone help you recover unclaimed property, you may be liable for substantial fees. Such an agreement is unenforceable in Maryland if it covers property which has not been in the state's custody for two years. Since Maryland and most other states have laws regulating these agreements, you may wish to consult an attorney before signing the agreement.

Can I find this property myself?

Yes. Before signing any agreement, you should first check with the Comptroller of Maryland for yourself, your relatives and anyone for whom you might be an heir or joint owner. Then, check with other state unclaimed property offices, starting with those states where you or your relatives may have lived. Our Web site www.marylandtaxes.com is linked to the National Association of Unclaimed Property Administrators (NAUPA) and through it to other states. Or you can check the databases of other states using www.naupa.org.

What happens to the property if it remains unclaimed?

Maryland's unclaimed property law is custodial, which means that there is no time limit on claiming the money that is rightfully yours. You can claim the funds any time, and legitimate heirs can claim the funds after the original owner's death.

What happens to the contents of safe deposit boxes?

The contents of safe deposit boxes are turned over to the Comptroller of Maryland, and all items of monetary value will be sold through an online auction. The proceeds from these sales will be credited to accounts in the owners' names, and will be paid to the owner or the owner's heirs when submitting a valid claim. Since the inception of the eBay auctions, the Comptroller of Maryland has had record sales totaling more than $100,000.

Do other states have unclaimed property records that I can check?

Yes. There is an unclaimed property office in each state and in the District of Columbia. Our unclaimed property office can provide you with the addresses and phone numbers of unclaimed property offices in other states.