Unlocking Hidden Assets: How CPAs Can Help Clients Claim Their Share of More Than $1 Billion in Unclaimed Property

Each year, millions of dollars in unclaimed property sit waiting to be returned to rightful owners, from forgotten checking accounts to dormant stocks and insurance payouts. In Oklahoma alone, the State Treasurer’s Office is safeguarding more than $1 billion in unclaimed funds—representing more than 1 million properties. In 2023 alone, over 30,000 claims were processed, representing substantial assets to individuals, families and businesses across the state.

For CPAs, this presents a unique opportunity.

Whether preparing taxes, managing estates or advising on financial strategy, you’re often the first to notice clues that unclaimed property may exist—a client who’s changed addresses, inherited an estate or owns idle assets from a dissolved business.

What Qualifies as Unclaimed Property?

Common examples include:

• Bank accounts
• Uncashed checks
• Insurance proceeds
• Utility refunds
• Dividends and stocks
• Royalties and mineral rights
• Safe deposit box contents

After a statutory dormancy period, these assets are turned over to the State Treasurer’s Office and held securely until claimed.

Why This Matters to CPAs

Helping clients identify unclaimed property is a high-impact, low-effort way to provide additional value. It can result in meaningful financial returns and demonstrates diligence in uncovering assets that might otherwise go unnoticed.

Just as importantly, it strengthens your relationship with clients. Recovering even modest amounts of money reflects your attention to detail and reinforces your role as a trusted advisor. These moments of added value can lead to greater client loyalty, more referrals and long-term satisfaction.

Top Tips for CPAs: Integrating Unclaimed Property Checks

Incorporating unclaimed property searches into your workflow can be simple and effective. Consider the following approaches:

• Annual Review: Check for unclaimed property during tax prep or financial planning reviews.
• Estate Planning: Include a search when managing estates or working with executors.
• Business Audits: For business clients, look for signs of dormant accounts or uncashed checks.
• Client Education: Share the search tool with clients so they can check for themselves or family members.

These checks take just minutes and can lead to significant returns.

Make It Part of Your Practice

Start by visiting YourMoney.ok.gov, the official unclaimed property search tool managed by the Oklahoma State Treasurer’s Office. Searches can be done by individual, business or estate name.

For step-by-step guidance, download the OST Financial Fitness Kit, created specifically for CPAs. It includes tools, instructions, and educational materials you can share with your clients.

By making unclaimed property searches part of your standard practice, you’re not just helping your clients, you’re unlocking hidden value and reinforcing your role as a trusted financial expert.