Unclaimed Property
It’s money that could be yours. Every year, thousands of dollars go unclaimed in New Brunswick, forgotten in credit union accounts, uncashed cheques, security deposits, and more.
FCNB operates New Brunswick’s Unclaimed Property Program. We work with businesses and government entities to return unclaimed property to its rightful owner.
New Brunswick’s Unclaimed Property Act requires businesses and other entities holding unclaimed property to participate in the program. The program relieves them of the expense and liability of carrying the property on their books. FCNB then holds these unclaimed funds until they are claimed by the rightful owner or someone acting on the owner’s behalf.
To learn more about reporting and delivering unclaimed property, holders can visit our Resources page on FundsFinderNB.ca.
Once the full program is in place, FCNB will maintain an up-to-date online list of unclaimed money, free of charge to search. This online tool will help you track down your unclaimed money and put it back where it belongs – in your pocket.
In the meantime, you can contact institutions that hold your money, especially if you changed address or marital status. Keep accurate financial records, and record all insurance policies, security investments as well as rent and utility deposits. For more tips on how to prevent your money from becoming unclaimed or how to track down unclaimed property, check out our Are you a Claimant? section of our website.
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What is unclaimed property?
Unclaimed property is money and other monetary property held by holders that has been forgotten by its owner after a set period of time. According to the Unclaimed Property Act, types of unclaimed property include but are not restricted to:
- Credit balances
- Overpayments and refunds
- Security deposits
- Trust deposits for real estate transactions
- Amounts payable under a life insurance contract
- Deposits in a provincially regulated financial institution, like credit unions
When does property become unclaimed?
Property is generally considered to be unclaimed when there has been no activity on the property for at least three years, or 10 years for credit union accounts. Refer to sections 4 and 5 of Rule UP-001 Unclaimed Property – General for details.
What is NOT unclaimed property under this program?
The program does not cover the following:
- Real estate
- Furniture
- Animals
- Vehicles
- Bank accounts held by federal financial institutions