There is currently $103 million worth of forgotten funds just waiting to be claimed by Albertans.
The Unclaimed Property Registry is essentially a shelter for abandoned money that houses financial assets like unchashed cheques, government-issued benefits, scholarships, employment income, and the like that were never successfully received by their rightful owners.
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The registry was established back in 2008 due to the Unclaimed Personal Property and Vested Property Act, which requires that businesses, governments, utility corporations, universities, and insurance companies report unclaimed property to the registry so that Albertans have a chance to claim their rightful funds.
A recent release from the province states that nearly $900,000 in uncashed dividends belongs to an individual Albertan yet has not been claimed – the highest value ever held in the registry for one person.
Albertans who are curious if they have any money sitting in the registry can head over to missingmoney.com to search their name for free. If an amount pops up under your name and address, you will be able to claim it by submitting an online form.
If assets are not claimed within 10 years of entering the registry, they go to the government’s general revenue.
In 2019, roughly $840,000 was returned to 470 Albertans through the registry, and it has returned over $8 million to claimants since 2008.
The highest value ever claimed through the registry was $368,124 in uncashed government and insurance cheques for a corporation in 2019.