Why does FDIC have unclaimed funds?
When a failed financial institution (bank or savings and loan) with federal deposit insurance is liquidated, the FDIC resolution division is responsible for paying: • Unclaimed insured deposits up to the insurance limit • Dividends declared on excess deposits over the insurance limit • Dividends declared on general creditor claims • Funds distributed to the shareholders of the failed institution In many instances these funds remain unclaimed because: • The insured deposit is never claimed from the assuming financial institution • The dividend check on the excess deposit amount is not cashed • The dividend check on the general creditor claim is not cashed • The check to the shareholder is not cashed • A valid address is not on file and the dividend check has been returned to the FDIC What funds are available? The database for this site contains unclaimed funds for either unclaimed insured deposits (for receiverships established between January 1, 1989 and June 28, 1993), or for dividend
