Unclaimed Stocks & Dividends
Forgotten brokerage accounts, lost stock certificates, and uncashed dividend checks add up to billions of dollars held by state governments. Company mergers, address changes, and old paper certificates are all common causes.
What Are Unclaimed Stocks and Dividends?
Unclaimed investment property includes brokerage accounts with no owner activity, stock certificates that were never transferred after a company merger or name change, dividend checks mailed to outdated addresses, mutual fund distributions, and forgotten 401(k) accounts from previous employers.
When stock transfers happen through corporate mergers and acquisitions, shareholders sometimes don't receive their new shares because the transfer agent doesn't have a current address. The shares become dormant and are eventually turned over to the state.
The DTCC (Depository Trust & Clearing Corporation) maintains a database of lost and stolen securities, and is a useful resource alongside state unclaimed property databases when searching for old stock certificates.
How to Find Unclaimed Stocks and Dividends
- 1
Search state unclaimed property databases
Search every state where you have lived or held a brokerage account. Many brokerage accounts are registered in Delaware or New York due to corporate registrations, so check those states too.
- 2
Contact transfer agents
Each publicly traded company has a transfer agent (like Computershare or EQ by Equiniti) that manages shareholder records. Contact them with the company name and your personal information to look up old holdings.
- 3
Search for forgotten 401(k)s
Use the DOL's Abandoned Plan Search (dol.gov) and the National Registry of Unclaimed Retirement Benefits. Contact every former employer's HR department to ask about retirement account balances.
- 4
Check old brokerage accounts
Contact any brokerage firms you have used in the past. Even if you don't have account numbers, they can often look you up by name and Social Security number.
States with the Most Unclaimed Investment Property
States where major financial institutions and corporations are incorporated hold the most unclaimed stock and dividend property:
Frequently Asked Questions
How do I find old stock certificates?
Search the unclaimed property database in the state where the company was incorporated or where you lived when you held the stock. You can also use the DTCC (Depository Trust & Clearing Corporation) lost and stolen securities program, or contact the company's transfer agent directly. Physical stock certificates may also have value as collectibles even if the company no longer exists.
What happens to unclaimed dividends?
When dividend checks are mailed to shareholders but not cashed — often because the shareholder moved and didn't update their address — the dividends become unclaimed. After the dormancy period (typically 3 to 5 years), the brokerage or transfer agent turns the funds over to the state unclaimed property program.
Can I claim stocks from a deceased relative?
Yes. You can claim stocks and dividends belonging to a deceased parent, spouse, or other relative through the state's unclaimed property program or through the company's transfer agent. You will need a certified death certificate, proof of your relationship, and documentation of your legal right to the property.
How do I find a forgotten 401k?
Search the US Department of Labor's Abandoned Plan Search at dol.gov, and the National Registry of Unclaimed Retirement Benefits at unclaimedretirementbenefits.com. Also contact former employers' HR departments. Small 401k balances (under $5,000) are sometimes rolled over to an IRA — check state unclaimed property databases as well.
Are recovered stocks and dividends taxable?
Yes. The tax treatment of recovered investments depends on what you recover. Cash dividends are generally taxable as ordinary income in the year received. Recovered stocks are subject to capital gains tax when you eventually sell them — the cost basis is determined by the original purchase price. Consult a tax professional for guidance specific to your situation.