Owners of unclaimed property can now file paperless electronic claims for accounts worth as much as $5,000, State Controller Betty T. Yee announced Thursday.
The previous limit was $1,000. When the eClaim process was first launched in January 2014, the threshold was $500.
“The eClaim process is simple, efficient, and can be completed in a couple of minutes,” Yee said in a statement. “An increased threshold of $5,000 will allow many more Californians to claim lost or forgotten property online and quickly receive a check in the mail.”
The eClaim system has returned more than $27 million and 315,000 pieces of property since its inception, the Controller’s Office said.
Common types of unclaimed property are bank accounts, stocks, bonds, uncashed checks, wages, life insurance benefits, and safe deposit box contents.
Potential owners can search for unclaimed property on the Controller’s free online database at www.claimit.ca.gov.
