You’ve probably heard the rumors or seen the late-night commercials. "The government is hiding your money!" It sounds like a scam, right? But here's the thing: in Arizona, it’s actually very real. And there is a lot of it.
As of early 2026, the State of Arizona is sitting on nearly $2.8 billion in unclaimed property. That is billion with a "B." We aren’t talking about a few dusty pennies in a jar. We’re talking about forgotten savings accounts, uncashed paychecks from that job you quit in 2012, and even the contents of abandoned safe deposit boxes.
Arizona State Treasurer Unclaimed Money Explained (Simply)
Most people get confused right at the start. They look for the Arizona State Treasurer unclaimed money thinking Kimberly Yee’s office is the one holding the checkbook. Honestly, it’s a common mix-up. While Treasurer Kimberly Yee manages the state's massive $32 billion investment portfolio and the state budget, the actual "Lost and Found" department is run by the Arizona Department of Revenue (ADOR).
The Treasurer's office handles the investing of the state's general fund—where some of this money eventually sits—but if you want your cash back, you have to go through ADOR’s Unclaimed Property Unit.
Why does this even happen? Basically, businesses are legally required to turn over "abandoned" assets to the state after a certain period of time, usually three years. If a bank can’t find you because you moved to Mesa and forgot to update your address on an old account, they can't just keep the money. They have to ship it off to the state for safekeeping. Arizona acts as a "custodial" state. This means they hold the money for you indefinitely. You never lose the right to claim it, even decades later.
What Kind of Money are We Talking About?
It’s not just cash. It’s a weird mix of financial leftovers.
- Dormant bank accounts: Savings or checking accounts with no activity for three years.
- Uncashed checks: Payroll, insurance settlements, or even utility deposits.
- Stocks and Dividends: If the company lost track of you, those shares go to the state.
- Safe Deposit Boxes: This is the wild stuff. Jewelry, rare coins, and even old military medals.
There was a record-breaking year recently where the state returned $88 million to rightful owners in a single fiscal year. One person actually walked away with $1.5 million. Most claims are smaller—maybe fifty or a hundred bucks—but hey, that’s a nice dinner in Scottsdale on the state’s dime.
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The 1-in-7 Rule and Why You Should Care
Statistically, about one in seven Arizonans has money waiting for them. Think about your friend group. If there are seven of you at a Suns game, one of you is likely owed money by the state.
I’ve seen people find money they didn't even know existed. A common one is escrow refunds from a house sold years ago. Or maybe a "death benefit" from a relative you didn't know had a small life insurance policy.
The state is currently facing some heat, though. A lawsuit filed in late 2025 (Garza v. Arizona) challenged how the state handles this money. The argument is that the state doesn't do enough to actually notify people before the money gets absorbed into the general fund. Right now, the law only requires about 120 days of notice before the state takes custody. While the state says they "safeguard" it, critics argue they make it just a bit too hard to find.
How to Actually Get Your Money
Don't pay anyone to do this. Seriously. There are "finders" or "tracers" who will mail you letters offering to help for a 15% or 33% fee. Ignore them. You can do this yourself in five minutes for free.
- Search the Database: Go to the official Arizona Department of Revenue unclaimed property site or use MissingMoney.com, which is the national database Arizona participates in.
- Check Every Variation of Your Name: Search "Jon Smith," "Jonathan Smith," and even common misspellings. If you have a maiden name, check that too.
- Prove You Are You: This is where it gets a bit annoying. You’ll need to provide a photo ID and, crucially, proof that you lived at the address associated with the money. If it's an old apartment from 2005, you might need an old utility bill or a tax return.
- Wait for the Check: Most claims are processed within 30 to 90 days. If it's a complex claim involving a deceased relative, it’ll take longer because you’ll need probate documents or a death certificate.
The Reality of Safe Deposit Boxes
This is the part most people don't realize. If the state gets the contents of a safe deposit box, they don't keep the "stuff" forever. By law, they can liquidate (sell) the items after three years. They hold an auction. However, they keep the proceeds from that sale in your name.
If your grandma left a gold watch in a box and the state sold it, you can't get the watch back. But you can claim the cash value of what it sold for at auction. It’s a bit heartbreaking if there’s sentimental value, which is why it’s so important to check the database at least once a year.
Actionable Steps to Take Right Now
Stop wondering and just look. It takes less time than scrolling through TikTok.
- Check MissingMoney.com first. It’s the fastest way to see if your name pops up in Arizona or any other state you’ve lived in.
- Gather your old addresses. Make a list of every place you’ve lived in the last 20 years. You’ll need this to verify that the "John Doe" on the list is actually you.
- Look for deceased relatives. Search for parents or grandparents who have passed away. As a legal heir, you can claim their forgotten assets, though you’ll need a copy of the death certificate and proof of your relationship.
- Don't forget business names. If you ever owned a small LLC or a side hustle, search the business name too. Companies often have "credit balances" from vendors that they never collected.
The state currently holds over $2.79 billion. It’s your money—or your family’s money. The Arizona State Treasurer’s office might be the one managing the "pot," but the Department of Revenue is holding the keys. Go get it.