Virginia Unclaimed Property and Funds

What Is Unclaimed Property in Virginia?

Unclaimed Property is money owed to people and companies that gets turned over to Virginia when companies can't find people to pay it back. For example, if you move and you don't tell your utility company your new address, they don't know where to send your refund check. In this case they would turn the money over to Virginia as Unclaimed Property. Virginia would then hold it until you come and claim it. Some states take the money after a certain number of years, while some hold unclaimed funds indefinitely.

Here's the important thing - you could have free money waiting for you!

How Much Unclaimed Property Is Virginia Holding?

Total Unclaimed Funds

Two Billion Dollars

Washington Post, May 2020

State Population


according to the 2020 census

Average Claim Size

$1,170 to $2,340

per claim, if 1 in 5 to 1 in 10 residents have unclaimed assets

According to this May 2020 Washington Post article, the State of Virginia is holding over Two Billion Dollars in unclaimed funds.

Over Eight Million people live in Virginia, so that means Virginia is holding over $234 per resident! Not every resident has unclaimed funds, so that means the average claim is much higher. Usually 1 in 5 to 1 in 10 people have unclaimed assets waiting for them, which would make Virginia's average claim between $1,170 and $2,340.

What Are Some Common Examples of Unclaimed Property?

Some common examples of unclaimed propert include:.

  • Checking or savings accounts
  • Stocks
  • Uncashed dividends or payroll checks
  • Refunds
  • Utility security deposits
  • Contents of safe deposit boxes
  • Customer overpayments

Many times people forget they have accounts open with companies, or move companies that owe them money can't find their new address. For exampe, electric companies, natural gas companies, phone companies, and others often owe people money when they move, but can't find the person's new address to send them a check. After a certain time period the company must turn that money over the the state, and the state holds it until the owner comes to claim it. Approximately 1 out of every 10 people in the US have unclaimed money waiting for them, they just have to claim it.

How Do I Claim Virginia Unclaimed Property?

You can search for and and claim unclaimed assets on the Virginia's official webste.

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