"I recently stumbled across DC's Unclaimed Property website, which keeps track of lost money and possessions that belong to unaware residents. I'd just paid my bills, and my next paycheck hadn't hit yet, so it came as welcome news that I was apparently owed money from a closed bank account and an old job I'd nearly forgotten about. I entered some information to claim the funds and quickly got an email asking for proof of identity."
"Laws in all 50 states and the District require financial institutions to report property to the government if it goes untouched for a certain period-DC takes checks after one to three years, depending on the type of funds. The city's population is relatively transient, so there's a particularly high rate of unclaimed property. Someone might set up a savings account and forget it when they move away, for example, or fail to pick up their last paycheck from a job."
A resident found owed funds from a closed bank account and an old job on DC's Unclaimed Property website, claimed them online, verified identity, and received mailed checks. Laws in all 50 states and the District require financial institutions to report property that goes untouched for a set period; DC takes checks after one to three years depending on fund type. A transient population produces many forgotten accounts and uncollected paychecks. The Unclaimed Property Unit returns over $30 million annually; fiscal 2024 returned more than $35 million across 39,000 items, usually small amounts but sometimes large estates. Lynn Hall oversees the Unit, which stores paper checks, stock certificates, and insurance slips in labeled bags on shelves.
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