How to Find Unclaimed Certificates of Deposit

Quick answer

• Search state unclaimed property databases online.
• Check with financial institutions where you’ve held accounts.
• Use the TreasuryDirect website for U.S. Savings Bonds and other Treasury securities.
• Contact the Securities and Exchange Commission (SEC) for unclaimed investment assets.
• Review your past financial statements and records for any CD accounts.
• Be wary of services that promise to find your money for a fee; many are scams.

Who this is for

• Individuals who believe they or a family member may have forgotten about a Certificate of Deposit (CD).
• Heirs who are settling an estate and suspect there are forgotten financial assets.
• Anyone who has moved frequently or experienced life changes that might have led to lost contact with financial institutions.

What to check first (before you act)

Goal and timeline

What is your ultimate objective in finding this CD? Is it for immediate use, long-term savings, or to pass on to heirs? Understanding your timeline will help prioritize your search and determine how quickly you need to act.

Current cash flow

Assess your current financial situation. Do you have an immediate need for the funds, or is this a more passive search? Knowing your cash flow will influence how aggressively you pursue finding the CD and what you’ll do with the money once found.

Emergency fund or safety buffer

Before dedicating significant resources or time to finding a potentially small amount of money, ensure you have a robust emergency fund. If you don’t, prioritizing building that safety net might be more beneficial than a lengthy search for a forgotten CD.

Debt and interest rates

If you have high-interest debt, such as credit card balances, consider whether the potential return from a CD would outweigh the cost of that debt. Paying down expensive debt is often a more financially sound decision than recovering a low-interest, forgotten asset.

Credit impact

While finding a forgotten CD won’t directly impact your credit score, the process of locating it might involve reviewing old financial records. Be mindful of how you handle this information and ensure you’re not inadvertently revealing sensitive data.

Step-by-step (simple workflow)

Step 1: Gather personal information

What to do: Collect your full legal name, Social Security number, previous addresses, and any known maiden names or former names.
What “good” looks like: You have a comprehensive list of all identifying information that could be used to search for financial accounts.
A common mistake and how to avoid it: Not including all possible former names or addresses. This can lead to missing accounts opened under a different name or at a past residence. Avoid this by thinking broadly about any name changes or moves throughout your life and your family members’ lives.

Step 2: Search state unclaimed property websites

What to do: Visit the National Association of Unclaimed Property Administrators (NAUPA) website to find links to your state’s unclaimed property database. Search using your name and relevant details.
What “good” looks like: You have systematically searched all states where you have lived or worked.
A common mistake and how to avoid it: Only searching your current state of residence. Unclaimed property can be held in any state where you once had an account. Broaden your search to all states you’ve lived in.

Step 3: Contact financial institutions directly

What to do: Make a list of all banks, credit unions, and brokerage firms where you, or a deceased family member, may have held accounts in the past. Contact their customer service or lost property departments.
What “good” looks like: You’ve contacted every institution you can recall or find evidence of.
A common mistake and how to avoid it: Assuming a bank that merged or was acquired no longer has records. Many institutions retain records of former accounts for extended periods. Inquire about mergers and acquisitions when contacting them.

Step 4: Check TreasuryDirect.gov

What to do: If you or a family member purchased U.S. Savings Bonds or other Treasury securities, check the TreasuryDirect website for information on managing or redeeming them.
What “good” looks like: You have explored all avenues for government-issued savings instruments.
A common mistake and how to avoid it: Forgetting about paper U.S. Savings Bonds. While many are now electronic, older bonds may exist in physical form, requiring specific procedures to redeem.

Step 5: Investigate with the SEC

What to do: For unclaimed funds from stock sales, dividends, or other investment-related activities, the Securities and Exchange Commission (SEC) website may offer resources or guidance.
What “good” looks like: You’ve considered investment assets as a potential source of unclaimed funds.
A common mistake and how to avoid it: Overlooking investment accounts. Many people forget about small investment accounts or dividends that were automatically reinvested or paid out.

Step 6: Review old financial records

What to do: Dig through old safe deposit boxes, file cabinets, and digital archives for statements, passbooks, or any documentation related to past financial accounts.
What “good” looks like: You have thoroughly examined all personal records for clues.
A common mistake and how to avoid it: Giving up too easily on physical records. Old statements can be dusty and disorganized, but they are often the most direct evidence of forgotten accounts. Be patient and methodical.

Step 7: Use the FDIC’s “Where’s My Bank?” tool

What to do: If you know the name of a bank but are unsure if it still exists or who acquired it, the Federal Deposit Insurance Corporation (FDIC) has a tool to help track this information.
What “good” looks like: You can trace the lineage of any bank you suspect you had an account with.
A common mistake and how to avoid it: Not realizing that banks change names or merge frequently. This tool can help you navigate those changes and find the correct successor institution.

Step 8: Claim your property

What to do: Follow the specific instructions provided by the state or financial institution for claiming your property. This usually involves filling out forms and providing proof of identity.
What “good” looks like: You have successfully submitted all required documentation to reclaim your funds.
A common mistake and how to avoid it: Submitting incomplete or incorrect information on claim forms. This will delay or prevent the return of your funds. Double-check all details before submitting.

Common mistakes (and what happens if you ignore them)

Mistake	What it causes	Fix
Not searching all states for unclaimed property	Missing out on your money; funds remain with the state.	Systematically search every state where you have lived or worked.
Assuming forgotten accounts are gone forever	Leaving money unclaimed; it continues to sit with the holder.	Be persistent; financial institutions often hold records for decades.
Falling for advance-fee scams	Losing money to fraudsters; you pay a fee but get no funds.	Never pay a fee to find your own money. Legitimate searches do not require upfront payment.
Not checking with family members about their accounts	Overlooking assets that might be passed down to you as an heir.	Talk to elders about their financial history and ask about any accounts they may have.
Forgetting about small, forgotten accounts	Leaving small amounts of money inaccessible, which can add up over time.	Search for all accounts, regardless of perceived size; even small amounts are yours.
Not verifying the legitimacy of a search service	Being defrauded; paying for a service that does not deliver or is a scam.	Stick to official government websites and direct contact with financial institutions.
Failing to provide proper identification when claiming	Delays or denial of your claim; inability to prove ownership.	Ensure all identification documents are current and accurately reflect your name and address.
Not understanding the claiming process	Frustration and potential loss of claim; not knowing the steps to take.	Read all instructions carefully from the claiming entity before starting the process.

Decision rules (simple if/then)

• If you have moved frequently, then search unclaimed property databases in all states where you have resided because your money could be held in any of those locations.
• If you recall a specific bank or credit union but are unsure of its current status, then use the FDIC’s “Where’s My Bank?” tool because it can help you trace mergers and acquisitions.
• If you are searching for assets of a deceased relative, then start by looking through their personal financial records and talking to other family members because they may have direct knowledge of accounts.
• If you find a potential match on an unclaimed property website, then be prepared to provide proof of identity and address because this is standard procedure for verifying ownership.
• If a service contacts you claiming to have found your unclaimed money and asks for an upfront fee, then do not proceed because this is a common scam tactic.
• If you have high-interest debt, then consider prioritizing paying it off over a lengthy search for a potentially low-yield CD because the guaranteed return from debt reduction is often higher.
• If you are unsure about the legitimacy of a financial institution or a claim process, then contact the relevant state consumer protection agency or the CFPB for guidance because they can offer impartial advice.
• If you find a forgotten CD, then check its maturity date and current interest rate before deciding what to do with it because you may be able to roll it over or withdraw it.
• If you have U.S. Savings Bonds, then visit TreasuryDirect.gov to manage or redeem them because this is the official portal for Treasury securities.
• If you are looking for unclaimed funds from investments, then consider resources provided by the SEC because they can guide you on tracking down lost investment assets.

FAQ

How long does a financial institution hold unclaimed CDs?

Financial institutions are required to turn over abandoned property to the state after a certain period, often ranging from three to five years of inactivity. However, the exact timeframe can vary by state and institution.

Can I claim a CD for a deceased relative?

Yes, as an heir or executor of an estate, you can typically claim a CD belonging to a deceased relative. You will need to provide proof of your relationship to the deceased and legal documentation, such as a death certificate and letters testamentary or letters of administration.

What if I lost the original CD paperwork?

You generally do not need the original CD paperwork to claim the funds. Financial institutions have records of your accounts. You will need to provide sufficient identification and potentially other documentation to prove your ownership.

How much does it cost to search for unclaimed CDs?

Searching state unclaimed property databases and official government websites is typically free. Be very cautious of any service that charges a fee to help you find your money, as many are scams.

What is the difference between unclaimed property and abandoned property?

These terms are often used interchangeably. Unclaimed property refers to financial assets that have been forgotten or lost by their owners. Abandoned property is a legal term for assets that have remained unclaimed for a specific period, after which they are turned over to the state.

How long does it take to receive the funds after claiming?

The time it takes to receive your funds can vary significantly. It may take a few weeks to several months, depending on the institution, the amount, and the efficiency of their claims processing department and the state’s procedures.

Can I find unclaimed CDs online?

Yes, the primary way to find unclaimed CDs is by searching online through state unclaimed property databases. You can also check the websites of financial institutions where you may have held accounts.

What this page does NOT cover (and where to go next)

• Specific legal requirements for estate settlement (consult an estate attorney).
• Advanced investment strategies for managing recovered funds (consult a financial advisor).
• Tax implications of claiming old financial assets (consult a tax professional).
• International unclaimed property searches (research specific country regulations).