#Unclaimed monies canada free#

Revenu Quebec is sitting on the country’s second-largest pile of unclaimed money: 401,000 accounts valued at a total of $436.5 million dollars as of Aug. The largest unclaimed amount is a $1.9 million estate the legal heirs are “unaware of,” the society said. It’s an unclaimed estate valued at around $200, which was transferred to the society by the Public Guardian and Trustee of B.C.,” Livingston said. “The oldest unclaimed account in the society’s database dates back to 1859.

#Unclaimed monies canada free#

Last year, the society remitted just over $700,000.īCUPS encourages anyone who believes they may have unclaimed funds to consult their free online registry in order to get their money back at no cost. “With most unclaimed property organizations, the amount of dormant funds remitted by holders exceeds the amount claimed each year,” he explained in an email. According to spokesperson Martin Livingston, the organization is sitting on a record $178.3 million, a significant jump from the $100 million in 2014.

government set up the Unclaimed Property Society (BCUPS), which handles all of the province’s unclaimed funds from credit union balances, unpaid wages or outstanding estates. This advertisement has not loaded yet, but your article continues below.

Manage Print Subscription / Tax Receipt.

The Unclaimed Funds Database currently has almost 120,000 records equaling a total of over $21 million. If you find that there is an amount owed to you, keep in mind that there is a $30 claim fee so you wouldn’t want to pursue an amount for anything less than that. To search this database, try any possible variation of your name in the “Creditor” field. To help you find out if you are owed money from bankrupt debtors, the Office of the Superintendent of Bankruptcy Canada maintains an Unclaimed Funds Database. Years later Jennifer found out that there’s a way to search for money owed to creditors from bankruptcies and searched her name. Jennifer was able to get over $100 for unused minutes at a tanning salon that went bankrupt and she assumed she had lost the money owed to her. I recently heard from a reader that found some money owed to her, not from her own forgotten bank account, but from a company that had gone bankrupt. After you search, if you find out that you may have money to claim, please leave a comment to tell us about your find! Do You Know If You Are Owed Money From a Bankruptcy?

I searched every possible name variation of me and other family members, unfortunately I didn’t find anything. Wondering if there are really that many accounts that are unclaimed? At the end of 2008, the Bank of Canada reported that they are holding approximately 1,023,000 accounts with a total value of about $351 million! If you find that there is an account that you may have a claim to, you will need to fill out the claim form and provide proof of your entitlement through either your own signature, identification and a will, if applicable. The search form also allows “and”, “or” and “*” for more precise searching. This could include maiden names, an initial for your first name, or maybe even some common misspellings. Since the names are exactly the same as how they were entered at the original financial institution, be sure to try all possible variations of your name. To search a name, go to the Bank of Canada’s Unclaimed Balances page. The Bank of Canada will hold onto a variety of Canadian dollar accounts from Canadian banks, including: The Bank of Canada will then maintain custody of the funds for an additional thirty years for accounts under $1,000, balances of $1,000 or more will be held for 100 years. Have an old bank account that you never actually closed? Or maybe a relative died and you’re unsure if all their accounts were located to be given to those mentioned in their will? Luckily there is a simple way to search for money left in unclaimed bank accounts.Ĭanadian banks will hold the balance on a dormant account for 10 years, then they transfer the outstanding balance to the Bank of Canada.