The Irvine City Council recently approved a robust outreach initiative to inform residents and businesses about unclaimed property. California’s Unclaimed Property Law requires certain entities to report and submit their customers’ property to the State Controller’s Office if assets have been held for three years or more. Common types of unclaimed property are:
- Uncashed Checks
- Bank Account Balances
- Stocks and Bonds
- Insurance Benefits
- Wages
- Safe Deposit Box Contents
The State of California is holding more than $11 billion in unclaimed property and is required by law to safeguard this property until it is claimed by the rightful owners. There is no deadline for claiming these assets once transferred to the State Controller’s Office.
To search for unclaimed property, residents can visit the City of Irvine website at cityofirvine.org/unclaimedproperty. The website is easy to use and provides step-by-step instructions on how to search for and claim any unclaimed property.
Separate from the State Controller’s unclaimed property, the City of Irvine maintains a listing of all accounts payable checks issued by the City that are at least one year old and have not been cashed. The listing and instructions on how to submit a claim for uncashed checks are located at cityofirvine.org/uncashedchecks.