Canada Unclaimed Money

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Canada unclaimed money

Unclaimed Property and Bank of Canada Dormant Accounts


Unclaimed Bank Accounts  Insurance Bank of Canada acts as custodian when there has been no account activity for a ten year period and the owner cannot be contacted.  Banks and federally chartered trust and loan companies are required to transfer to a custodian all unclaimed bank balances maintained in Canada in Canadian currency.

Currently there are approximately 1.8 million unclaimed bank balances - worth $678 million - that have gone unclaimed. This includes savings and chequing/current accounts; bank drafts, certified cheques, official cheques, money orders, traveller's cheques, credit card balances, term deposits, guaranteed investment certificates (GIC) and depository receipts.

Unclaimed balances of less than $1,000 are held for 30 years. Balances of $1,000 or more are held for 100 years. Interest is paid for the first 10 years of custody. If the balance remains unclaimed at the end of the custody period, Bank of Canada transfers the funds to the Receiver General for Canada.

To search for a missing bank account or lost CD, or if you have reason to believe a deceased relative may have unclaimed funds at a bank but aren’t sure where, go to: Unclaimed Bank Account Search

For additional information and assistance contact:

Unclaimed Balances Services
Bank of Canada
234 Wellington Street
Ottawa, Ontario K1A 0G9
Fax: 613-782-7713

Unclaimed Life Insurance Policy Benefits  Generally is up to family members or beneficiaries to notify the life insurance company of a policy owner’s death. As many as one-third of all life insurance policy benefits go unclaimed on death of the insured, because heirs often aren’t aware a policy exists, or don’t know how to find it.

In addition to billions of dollars in unclaimed policy benefits, lost heirs and policyholders may be entitled to an unexpected windfall. As many mutual life insurance companies – including Sun Life, MetLife, John Hancock/ManuLife, Prudential and others – have converted to public ownership, millions of current and former policyholders and heirs are entitled to receive stock and cash, in addition to policy benefits.

The Canadian Life and Health Insurance Association OmbudService for Life and Health Insurance will contact its member companies to conduct a lost policy search. About one-in-five people who requested searches actually find policies, ranging in value from $3,500 to $210,000.

Canadian citizens holding policies issued by U.S. insurance companies are protected by statute, ensuring policy benefits may be claimed at any time.  

If you have reason to believe a life insurance policy exists but have not received payment, go to: Unclaimed Life Insurance Search  or contact:

OmbudService for Life & Health Insurance
401 Bay Street, PO Box 7
Toronto, Ontario, M5H 2Y4
Attention: General Manager

Canada Revenue Tax Refunds is holding an estimated $25 million in unclaimed tax refunds since 1990. There is no time limit on claims, but no interest is paid on amounts refunded. Privacy legislation prevents publication of owner names. Citizens should contact their local Canada Revenue office for assistance.

Canada Savings Bonds There is $112-million in unredeemed bonds. For assistance with a lost bond call: 1-800-665-8650 for series 1 to 31, or 1-800-575-5151 for series 32 and later.

The Office of the Superintendent of Bankruptcy holds approximately $15 million in unclaimed money collected for creditors that has not been distributed. To search go to: Unclaimed Bankruptcy Dividends Search

Provincial/Territorial Unclaimed Funds Unclaimed asset laws with regard to items other than bank accounts and tax refunds vary by province.

British Columbia  The Ministry of Finance and Corporate Relations administers the province's revised Unclaimed Property Act. Go to: BC Unclaimed Property Search or contact:

BC Unclaimed Property Society
PO Box 18519
West Georgia RPO
Vancouver, BC V6Z 0B3
Phone: 604.662.3518 / Toll Free: 1.888.662.2877 / Fax: 604.669.2079

Alberta  Alberta Unclaimed Property Search or contact:The Unclaimed Personal Property and Vested Property Act and Regulation was passed in 2008. Go to:

Tax and Revenue Administration
Alberta Treasury Board and Finance
9811 - 109 Street
Edmonton, AB T5K 2L5
Phone: 780-427-3044 - For toll free service in Alberta, call 310-0000; then enter 780-427-3044

Quebec The Minister of Revenue maintains a searchable unclaimed property register. Go to: Quebec Unclaimed Property Search or contact:

Direction principale des biens non réclamés
Revenu Québec
500, boulevard René-Lévesque Ouest, bureau 10.00
Montréal (Québec) H2Z 1W7
1 866 840-6939

Residents of Other Provinces
Residents of other provinces or territories should contact their account provider (i.e. their broker, investment dealer, trust company or mutual fund dealer) for assistance with unclaimed assets.

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