It’s not unusual for businesses to accumulate unclaimed property. They might lose contact with customers or clients, and accounts can become dormant, leaving property behind.
These unclaimed funds could be payroll cheques that aren’t deposited, overpayments, dormant credit union accounts or pension plans—not land, homes or physical possessions, but money.
Businesses in B.C. have legal obligations with respect to unclaimed funds, including to make their best efforts to locate and notify owners, but sometimes the administrative burden can be too great. It takes time, costs money and requires human resources to constantly maintain an accessible database of unclaimed funds they hold if they can’t find the owner. Plus, dealing with inquiries and following up to substantiate outstanding claims can turn into a lot of extra work.
That’s where the BC Unclaimed Property Society comes in. As the provincially designated caretaker of unclaimed funds in B.C., the nonprofit securely manages unclaimed money while proactively searching for the rightful owners. BC Unclaimed has more than $222 million in forgotten money that’s waiting to be claimed.
A “lost and found” for B.C.’s unclaimed funds
When a business transfers unclaimed funds to BC Unclaimed, they are fulfilling their legal obligations under the Unclaimed Property Act.
Businesses are also letting the pros attempt to reunite the unclaimed property with its owners. In 2025, the nonprofit returned almost $3.8 million to the rightful owners.
If the nonprofit finds a possible rightful owner of unclaimed funds over $200, they will contact them by mail. There’s also a free, searchable online database. People can search to see if they have unclaimed money, and if there’s a possible match, BC Unclaimed verifies they are the rightful owner through identification and documentation. Then, owners are reunited with their funds.
Some organizations (credit unions, debt collectors, companies in liquidation, the courts and others) are required under B.C. law to transfer unclaimed funds to BC Unclaimed if the rightful owners cannot be found. For many others, participation is voluntary but enticing.
Donating excess funds to support the community
Since BC Unclaimed was founded in 2003, it has partnered with the Vancouver Foundation. Together, the two organizations support charities and not-for-profits around the province by investing and distributing donated funds.
Though unclaimed funds are always available to the rightful owners to claim, ultimately, some money will never be claimed. BC Unclaimed donates funds that will not be needed for future claims to the Vancouver Foundation each year while ensuring there’s always enough money left to fulfill future claims.
Since 2004, BC Unclaimed has donated over $80.4 million to the Vancouver Foundation.
Working with BC Unclaimed doesn’t just increase the likelihood of unclaimed funds reaching their rightful owners; it also supports the public good.
If you’re handling your organization’s unclaimed funds, learn more at bcunclaimed.ca.
Connect on Instagram, Facebook and LinkedIn.
