Connecticut Unclaimed Property Search

Connecticut is sitting on more than a billion dollars worth of forgotten checks, long-lost savings accounts, and insurance proceeds. The state’s Office of the Treasurer collects these assets and then tries to reunite them with their owners. It does so by requiring business entities to remit the property to the state after it has been unclaimed for three or more years. The Office of the Treasurer then holds it until the rightful owner or heir claims it. The Office of the Treasurer has a website that allows residents to search for unclaimed property. It also provides a list of unclaimed properties by county.

The state’s unclaimed property program reclaimed more than 72,981 pieces of property last year, the most ever in the history of the program. That’s a big improvement over the previous 23 years when the program reunited only about 16,000 people on average with their money. Unclaimed property includes:

• Uncashed payroll or utility checks.
• Refunds.
• Life insurance proceeds.
• Inactive checking and savings accounts.
• Contents of safe deposit boxes.

It also includes stocks, bonds, mutual funds, and traveler’s checks. While a few types of property are exempt from becoming unclaimed, the vast majority of assets will eventually end up in the state’s unclaimed property pool. Most of these assets are remitted to the state by business entities, such as banks and credit unions, after being unclaimed for a certain period of time.

How to Check Unclaimed Property Status in Connecticut?

In Connecticut, unclaimed property includes money from abandoned bank accounts, uncashed checks, traveler’s checks, and money orders. These assets are held by the state Treasury Department until a resident or company doing business in the state claims them. The Treasury Department has a searchable database called the CT Biglist that residents can use to find their money.

A few states have changed their laws to allow officials to automatically mail checks to people on their unclaimed property lists. Others are working to improve their computer systems so they can better locate owners. But Connecticut officials have largely remained committed to the status quo.

Several lawmakers have urged the state treasurer to reform the program and make it easier for people to claim their money. But they have been met with resistance from the office and other state leaders. Some argue that the state’s goal is not to reunite rightful owners with their money but to rake in as much cash as possible.

Some experts believe that the state’s system is flawed. Others believe that it could be turned around if the state took a different approach to the issue. They could stop using the funds to fund political campaigns or supplement their annual budget and instead focus on finding ways to return more money to people who have lost it.