DOLLARS WITH THEIR
The British Columbia Unclaimed Property Society (BCUPS) is a not-for-profit Society created in 2003 by the Province of British Columbia and Vancouver Foundation. Our mission is to work with holders of unclaimed property to reunite rightful owners with their forgotten or unclaimed assets. The Society works to locate owners and holders of unclaimed property. We maintain a public database of dormant accounts and assets, and process eligible claims to reunite owners with their forgotten dollars.
Last year, BCUPS received over $6 million in unclaimed property from companies and organizations and returned approximately $1.7 million to claimants. The BCUPS database lists over $153 million in unclaimed funds, including some dating as far back as 1859.
Learn more about BCUPS mission, vision and values.
If you think you may have unclaimed property in a dormant credit union account, insurance payment, overpayments to debt collectors or unclaimed wages, we invite you to search our database to see if we are holding any unclaimed assets you may be entitled to.
If your business or organization holds unclaimed property on its books, we can help you fulfill your legal obligation to identify and locate the rightful owners.
What is the Unclaimed Property Act?
The Unclaimed Property Act of British Columbia requires businesses or financial institutions that hold unclaimed property (“holders”) to make reasonable efforts to locate and notify the owners of that unclaimed property. If the holder is unable to locate the rightful owner, the property becomes unclaimed and must be listed on a publicly searchable database.
Certain holders such as courts, credit unions, real estate agents, as well as the provincial government are all required by law to transfer unclaimed property to BCUPS. Other organizations can voluntarily transfer their unclaimed property accounts to BCUPS, and by doing so they are relieved of any legal or administrative burden relating to those funds.
The Province of British Columbia created the Unclaimed Property Act in 2000, replacing the Unclaimed Money Act. In April 2003, the Province entered into an agreement with Vancouver Foundation to provide those services outlined in the Act, leading to the creation of the British Columbia Unclaimed Property Society. In 2003, the Province of British Columbia entered into an agreement with BCUPS and the Vancouver Foundation. Under that agreement, BCUPS was appointed the administrator of British Columbia’s unclaimed property program.
What is Unclaimed Property?
“Unclaimed property” refers to money being held by an organization that has not been accessed by the owner for an extended period of time. Credit unions, utilities, corporations, insurance companies, and government entities are some of the many sources for unclaimed property.
Unclaimed property typically includes:
- Credit Union accounts
- Unpaid wages
- Insurance payments
- Court payments
- Companies in liquidation
- Overpaid debt collections
- Real estate deposits
Unclaimed property does not include physical property such as vehicles, jewelry, electronics, land, etc.