Michigan Unclaimed Property: How to Search and Claim

Dormant bank accounts, uncashed checks, stock and the contents of forgotten safe deposit boxes all end up with the Michigan Department of Treasury when the company holding them can’t find the owner. Treasury keeps them for the owner or heirs, with no deadline, and has returned more than $783 million in the last five years [1][3].

What counts as unclaimed property

Unclaimed property is cash or other items of value that were reported to Treasury because the owner didn’t claim them within a dormancy period [2]. It’s turned over once two things have happened: there’s been no activity on the account that you started, and the company’s attempts to contact you have failed [2]. Michigan’s list of examples includes [2]:

• Checking and savings accounts, and certificates of deposit
• Overpayments
• Uncashed checks, such as paychecks, refunds, money orders, cashier’s checks and insurance benefits
• Dividends, stocks and bonds
• Safe deposit box contents

For most kinds of property, the dormancy period is 3 years [2][8]. Some are shorter or longer:

Before reporting property worth $50 or more, a business that has a good address for you must send you a written notice 60 to 365 days ahead, with a date to respond by [8]. Businesses file their reports with Treasury by July 1 each year [2][8].

A few things change form once Treasury has them:

• Investments are sold when Treasury receives them. You claim the cash from the sale [3].
• Safe deposit box items held for at least 2 years may be sold at auction. The money from the sale is then held for the owner or heirs to claim [3].

Keep your own accounts from going dormant

Treasury suggests a few simple habits [2]:

• Make a deposit or withdrawal at least once a year.
• Cash checks soon after you get them, including cashier’s checks and money orders.
• Answer any notice of abandoned property by its due date.
• Tell companies when you move, and tell a trusted family member where your financial records are.

How to search

1. Go to unclaimedproperty.michigan.gov. Type your first name, last name or both. If you get too many results, add a city or ZIP code [4].
2. Search other names too: maiden names, old business names, and relatives who have died.
3. Check whether it’s really yours. For privacy, the site shows only the owner’s name, the company that reported it, and the Michigan city on record. If you’ve never done business with that company, the money probably belongs to someone with a similar name [3].
4. Check other states. Michigan’s site covers Michigan only. Treasury points to unclaimed.org for the others [3].

Got a postcard from the state about unclaimed property? Treasury sends them when it thinks it may be holding something of yours. If the postcard has a claim number, call 517-636-5320. If not, search the site and start a claim [3].

How to file a claim

What documents you’ll need

Most claims need a signed claim form, a copy of your photo ID, and a copy of a legal document that shows your Social Security number. The exact list for your claim is on the claim form attached to your confirmation email [6]. Mail documents to Unclaimed Property, Michigan Department of Treasury, PO Box 30756, Lansing, MI 48909, or upload them [6].

You may also need:

• Proof of your past addresses. Many reported properties have no Social Security number, so Treasury matches by address. Old utility bills, bank statements, tax records and credit reports can show where you lived [3].
• Proof of a name change, such as a marriage certificate, divorce decree or court document [3].
• Proof the property is yours if the company reported it without your address, Social Security number or birth date. An example is the original uncashed check or an account statement with your name and the company’s name [3].
• A notary, if your form calls for one. Banks, credit unions, libraries and city halls often have one; call ahead [3].

Claiming for a relative who has died

When the owner has died, these people can claim [3]:

• A biological heir, or a devisee of the owner
• A beneficiary
• The personal representative , if the estate is in probate

When you file, choose the relationship that fits you. The claim form you then receive lists the documents your type of claim needs [5][6]. If you’re unsure which applies, call the claims line at 517-636-5320 before you send anything [7].

Finders and fees

You don’t have to pay anyone to get your money back. Neither the State of Michigan nor Treasury charges a fee to look up or file a claim, and staff will help you over the phone [3]. Companies that charge for this are often called asset locators, fee finders or heir finders . You’re not required to use them, and Treasury doesn’t endorse any [3]. If one contacts you, you can search the state’s site yourself first and see what’s there.

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