California Unclaimed Money Finder

There is a lot of  information regarding becoming a California unclaimed money finder, so I am going to break it down as simply as possible.

California has over  $9 billion being held for over 48 million owners.

California also is one of the most “finder friendly” states around once you follow their guideline, so it’s definitely an excellent opportunity to make money.

California will even send your commission directly to you!

The two main laws to remember in California are:

• You cannot charge more than a 10% fee, and
• Money has to have been held by the State of California for at least 12 months

That’s it! It’s as simple as that.

California does have a large California Unclaimed Property Law and Regulations document that you can access here, but the two rules I just stated are all you really need to know.

There is more information that I will present below, but it’s just regarding the standards that California set to keep things uniform and make things as easy as possible for you and for them.

There are certain guidelines that you must follow as a finder in California. Before you can find money or enter into any agreements with any potential owners, the State requires certain documentation in hard copy.

They are:

• A list of employees authorized to represent your business by contacting the state or potential owners either by letters (snail mail), e-mail, or telephone.
•  The list should include the physical address for the business, the mailing address for the business, and the e-mail addresses of all employees.
• Copies of photo identification of all employees (drivers license, passport, etc.)A copy of a document showing the social security number to be used for claim payment or a document showing the tax id number for your business.
• A list of all telephone, cellular, and fax numbers for your business.

All of this can be found in the State of California Unclaimed Property Investigator Handbook. California calls unclaimed money finders “investigators”, but it’s the same thing. They used to charge $50 for the handbook, but stopped a couple of years ago. Maybe one day they’ll stop charging $150 for their California unclaimed money finder list!

Besides the main points above, California does have some specific suggestions on how they prefer to do things, including using their own Standard Investigator Agreement.

Please go to California’s Frequently Asked Questions for more information.

Please click here if you are interested in becoming a California Unclaimed Money Finder.