California State Controller Malia Cohen, together with Assemblymember Avelino Valencia, announced on Thursday, February 5, the adoption of Assembly House Resolution No. 79  (HR 79) declaring February 2026 as Unclaimed Property Month in California, an effort to raise awareness about the state’s vast unclaimed property holdings and to help residents and businesses recover money and items that belong to them.

The resolution encourages Californians to explore whether they have unclaimed property and to use tools provided by the California State Controller’s Office (CSCO) to submit claims.

California’s Unclaimed Property Program, run by the CSCO, holds more than $15 billion in unclaimed assets—funds and property from individuals and businesses that have lost contact with the holder and have had no activity for a legally defined period of time.

Since the program was established in 1959, it has acted as a consumer protection initiative requiring corporations, financial institutions, and other entities to report and transfer unclaimed property so it can eventually be returned to its rightful owners or heirs.

Unclaimed property generally refers to financial assets that have been inactive for a period specified by law, typically three years. These assets can include forgotten bank accounts, uncashed checks, stocks, bonds, matured insurance policies, wages, utility deposits, and safe deposit box contents. California law does not include real estate in its unclaimed property program.

“My office is safeguarding more than $15 billion in unclaimed property, representing over 84 million individual properties waiting to be returned to nearly 39 million Californians,” said Cohen. “In these uncertain times, taking a few minutes to visit claimit.ca.gov could mean reconnecting you or your loved ones with money that’s rightfully yours.” She added, “I want to thank Assemblymember Valencia for authoring HR 79 to help raise awareness about California’s financial lost and found.”

“Every year, California returns hundreds of millions of dollars in unclaimed property back to their rightful owners,” said Valencia, who chairs the Assembly Banking and Finance Committee. “As Chair of the Assembly Banking and Finance Committee, I am excited to join State Controller Malia Cohen to recognize this February as Unclaimed Property Month. A quick search could put money back in your wallet.”

Speaker Robert Rivas said the resolution is designed to help residents recover funds they may not know exist. “This resolution is about putting dollars back into people’s pockets. Too often, families are unaware their money is sitting unclaimed. That’s why I’m happy to join Assemblymember Avelino Valencia in raising awareness for this important program,” Rivas said.

Controller Cohen and Assemblymember Valencia urged all Californians to visit the California State Controller’s Office’s claimit.ca.gov portal, a free online database where people can search for and claim unclaimed property in their name or on behalf of heirs. There is no fee for filing a claim and no deadline to do so once property has been turned over to the state.

Under California’s unclaimed property law, businesses must review their records each year and report any unclaimed property to the CSCO after the statutory dormancy period has passed. Notices are sent to owners before transfer to maximize opportunities to reunite them with their property.

As the chief fiscal officer of the world’s fifth-largest economy, Cohen is responsible for statewide financial accountability and disbursement of public funds. She also audits government agencies and serves on numerous fiscal and pension oversight boards. Meanwhile, Assemblymember Valencia represents the 68th Assembly District, including Anaheim, Orange, and Santa Ana.

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