The Alberta government is once again reminding the public of its unclaimed property registry in a bid to return millions of dollars in abandoned property to rightful owners.
As of March 31, there were approximately 347,582 unclaimed items in the unclaimed property repository with an estimated value of $154 million.
The registry currently contains millions in cash, cheques, money orders and other unclaimed items belonging to people who may be entitled to an unexpected payout.
A person or entity that holds or maintains unclaimed property -- including things like traveller’s cheques, money orders, RRSP, RESPs or personal property of a dissolved corporation, society, or cooperative -- is required to report and transfer the abandoned property or its cash equivalent to Alberta Treasury Board and Finance, Tax and Revenue Administration (TRA).
Once transferred, the owner or their legal representative, or a creditor, can make a claim for that property.
“Who doesn’t like free money?” said Nate Horner, president of Treasury Board and minister of finance in a July 18 press release urging the public to check the database. “Alberta’s unclaimed property registry is free and easy to check, and a quick search of the registry could help reunite someone with money that they may not even know they were entitled to.”
Alberta’s unclaimed property program is governed and managed by the province through the Unclaimed Personal Property and Vested Property Act. The act provides 10 years for owners to stake and reclaim their lost money, after which the money is transferred to the government’s general revenue fund to help pay for programs and services for Albertans.
Individuals can search Alberta’s unclaimed property registry on the MissingMoney website , a portal used by Alberta and other North American jurisdictions that allows searches across multiple jurisdictions.
Of the approximately 347,582 unclaimed items currently in the registry, the provincial government says there is one valued at more than $850,000.
“If claimed, it will be the largest single balance the province has ever paid out, surpassing the current record of $368,124, which was returned to its rightful owner in 2019,” noted the government’s press release.
The registry returned $1.4 million to 650 people in 2023.
Since its inception in 2008, Alberta’s unclaimed property registry has returned $13.8 million to more than 8,500 owners, according to the provincial government
Sources of the unclaimed funds included unclaimed deposits, uncashed wages, loan overpayments and unclaimed funds from inactive investment accounts.
