The California State Controller and unclaimed property

Updated November 8, 2026

The California State Controller's Office runs the state's unclaimed property program. It receives property from holders, publishes the records, reviews claims and pays owners.

What the Controller does

• Receives property and reports from holders: banks, insurers, companies and others.
• Holds the property for the owner and publishes the records, searchable at claimit.ca.gov.
• Reviews claims and decides within 180 days of receiving a complete package, first in, first out.
• Pays approved claims by warrant.

How the Controller handles competing claims

When two claims compete for the same property, the Controller's investigator handbook says the claim received first, and under contract, wins. Getting a complete package in early matters.

How the Controller treats investigators

• The Controller does not require investigators to be licensed; it encourages them to register with its office voluntarily.
• An investigator's fee is capped at 10% and cannot be charged until the Controller pays (Code of Civil Procedure section 1582).
• No agreement is allowed while the property is still with the original holder.
• The Controller pays the investigator's percentage by a separate warrant, directly to the investigator.

What the Controller requires from a claimant

• The claimant signs the Controller's claim form in wet ink. It is notarized when the cash property totals $1,000 or more, and for all securities claims.
• A power of attorney is not accepted in place of the claimant's signature, apart from narrow medical exceptions.
• New claim packages go by mail, courier or in person. They cannot be emailed or faxed.
• The Controller decides within 180 days of a complete package, first in, first out.

For businesses

A business claim also needs proof of authority, proof of the FEIN, and proof of the address the holder reported. Renamed, merged and dissolved companies document the chain to today's owner. The Controller holds $691.4 million for California business-type owners owed $10,000 or more (file of November 4, 2026).