In New-Brunswick, unclaimed property must be delivered to the Financial and Consumer Services Commission (FCNB) which administers unclaimed property and keeps a public register of this property for the residents of that province. For more information, please go to the Revenu Québec website - External link. In Quebec, unclaimed property must be delivered to Revenu Québec, which administers unclaimed property and keeps a public register of this property. In these circumstances, and after reasonable efforts have been made to find and notify the owners of this property, it is deemed to be unclaimed.
$6.24 million – Funds from dormant accounts BCUPS transferred to Vancouver Foundation for charitable purposes in 2021. waiting to be claimed BCUPS says the legal heirs are unaware of it. $1.9 million – Largest dormant account in B.C. $19,230,405 – Approximate amount of money from dormant accounts BCUPS has returned to the rightful owners since its inception. $110,860,145 – Total amount of money from dormant accounts BCUPS has received since its inception. $717,209 – Amount of money returned to verified claimants in 2021. $4,070,621 – Amount of unclaimed funds BCUPS received from holders in 2021. $177 million – Amount of unclaimed funds residing in the BCUPS database transferred from financial institutions, companies and organizations. Some money is eventually disbursed to charities last year, the society allocated $6.24 million to Vancouver Foundation to support community and social programs. "For many cash-strapped British Columbians, being reunited with their unclaimed funds provided welcome financial relief during an unprecedented period of economic adversity. The availability of unclaimed funds also helps support numerous social programs and charities across the province,” said Levitz. Levitz said there’s been a significant increase in online inquiries over the last two years. "People tend to move around a lot, change jobs frequently, or simply forget to close an account." "People lose track of their funds for a number of reasons," said Alena Levitz, the society’s executive director via a statement May 3. Most unclaimed accounts in the society’s database amount to between $300 and $500 - typically from inactive credit union accounts, overpayments, unpaid wages and proceeds from courts. For instance, last year the society took in $4.07 million whereas only $717,209 was returned.
#UNCLAIMED MONIES CANADA FREE#
It maintains a free online database listing unclaimed accounts that are typically forgotten by British Columbians.Įstablished in 2003, the fund continues to grow each year, as the society receives much more money than is returned to verified claimants. The government-sanctioned society is the legal custodian of unclaimed funds received from the court system, the Public Guardian and Trustee of B.C., credit unions, insurance firms, companies and government. The BC Unclaimed Property Society (BCUPS) says there is $177 million worth of unclaimed assets sitting in holding accounts waiting to be reunited with their rightful owners, including a $1.9-million estate.
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