California – Not just Good Weather but also Good Info/Action on Unclaimed Funds

Here’s a short video with Good Advice from California’s State Controller Mr. John Chiang who takes the responsibility of returning missing assets to consumers very seriously. Mr. Chiang has $6.9 Billion in Unclaimed Funds, so it’s a very BIG job

The population of the State of California is close by comparison to the entire population of Canada-give or take a Million or so (?) Unfortunately, there is no such comparison of California or any other US State to Canada for that matter, in terms of Unclaimed Fund Legislation. Canada is way behind. But with a population close in numbers to Canada; it would be interesting to know if the Unclaimed Fund Balance of California is a better estimate of what Canada would have if we kept track ($6.9 Billion)

Here’s some charts providing further information on how California seeks to return unclaimed funds to the legal owners and the ever-increasing issue of unclaimed financial assets that is a global problem growing a  fast pace.

 

And some nice charts courtesy of his office at the California State Controller’s Office

Notices mailed out by California

Since 2007, California has been sending over a million notices a year to owners of Unclaimed Property

Securities returned to owners California

Cash returned to Owners

 

 

Property Returned to owners California