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What is unclaimed money & unclaimed property?
How does Canada deal with unclaimed property?
How does the Bank Act affect unclaimed property?
How much unclaimed property does the bank of Canada hold?
How does the society find the owners of unclaimed property?
How do I Find my unclaimed property?
Once you have selected the properties you are entitled to, follow the online instructions to submit a claim request. When submitting a claim request, you must identify if the original property owner is living, deceased or a business. Please refer to the list of claim types and relationships.
- On this page
- What are unclaimed bank balances
- How to find out if you have an unclaimed balance
•What are unclaimed bank balances
•How to find out if you have an unclaimed balance
If you don’t use certain financial products for 10 years, federally regulated financial institutions will consider the balance to be unclaimed. They must transfer unclaimed balances to the Bank of Canada.
This only applies to products that hold Canadian money. They don't have to transfer foreign currency products, like U.S dollar savings accounts, to the Bank of Canada. Check with your financial institution for information on how to get unclaimed money in a foreign currency.
Your financial institution must try to contact you before transferring an unclaimed balance to the Bank of Canada. They must do so in writing. They will try to contact you at the last address on file after the following times have gone by:
•2 years of inactivity
•5 years of inactivity
•9 years of inactivity
Your institution will send notices in January after each period of inactivity mentioned above. For example, you have a bank account that has been unused for 2 years as of July. They will send you your first notice in January of the following year.
The notice after 9 years of inactivity tells you that they'll transfer your balance to the Bank of Canada. Your balance will be sent in January of the next year. They'll do so if you don’t contact them or don't use the product by the end of the year. This notice will also tell you how to claim the balance once they transfer it.
The Unclaimed Properties Office (UPO) provides Canadians with information and tools to access unclaimed properties held by the Bank of Canada, including unclaimed bank balances, Canada Savings Bonds and Government of Canada bonds, The Canada RSP and The Canada RIF.
Sep 3, 2024 · BC Unclaimed can’t decide who is entitled to money from a court case. The Unclaimed Property Act states only the court can tell us who is entitled to the funds. The court advises who is entitled by issuing an order.
Dec 1, 2020 · Like many jurisdictions, Canada has laws that aim to connect unclaimed property with their rightful owners, and where those efforts are unsuccessful, to deliver the property to a government authority.
Sep 28, 2024 · Residents of Alberta, British Columbia, New Brunswick and Quebec can find their unclaimed balances through their provincial databases: AB: Unclaimed Property database; BC: Unclaimed Property Society; NB: Funds Finder; QB: Register of Unclaimed Property; How to Check for Unclaimed Money From the CRA
Sep 29, 2023 · Last updated on September 29, 2023. The Office of the Comptroller General (OCG) is responsible for the legislation of the Unclaimed Property Program as authorized by the Unclaimed Property Act. Examples of unclaimed property: Unpaid wages. Forgotten deposits in credit unions. Court trust funds. Other sources.
