1 in 7 Americans Have Unclaimed Money or Financial Assets–Here’s How to Redeem

States return over $5 billion in unclaimed properties annually, with the average value of a claim being $2,080.

Gold ingots in an antique safe, about 100 years old, shown at the "History of Money" exhibition at the Hungarian National Bank in Budapest on Nov. 29, 2011. Attila Kisbenedek /AFP via Getty Images

Billions of dollars worth of unclaimed funds are being held by state departments across the United States which can be rightfully collected by their legal owners through a simple online process.

Feb. 1 was Unclaimed Property Day. Unclaimed property refers to “accounts within financial institutions or companies in which there has been no activity generated (or contact with the owner) regarding the property for one year or a longer period,” according to the National Association of Unclaimed Property Administrators (NAUPA). By law, such properties are turned over to the state.