Long Lost Money by Sovos
What We Do
You might not recognize us, but many of us were involved in creating the first unclaimed property system, for the insurance industry, in 1992. We’ve come a long way since then. So has technology. And unclaimed property has become big business. That’s why we’re here today. LongLostMoney spans all industries. You can use it to find your property in our database before it’s considered abandoned and surrendered to the state. The holders of your unclaimed property use the same database to post it here. No intermediaries, no information selling or sharing, no compromise or complication, no charge, ever. LongLostMoney is not affiliated with government databases and does not admit auditing firms, trace firms, or heir locators. So, what’s yours is yours, at full value. All you have to do is search. Getting your property back is all the incentive you need.
Why What We Do is Important
The holders of your unclaimed property have significantly more incentive to find you. That’s because all 50 states are looking for every penny to stretch short budgets. Given the amount of money at stake, unclaimed property is a prime target. Since reporting requirements differ for each state, companies that hold unclaimed property have a hard time complying with them. And while all companies are required to find the owners of the unclaimed property they hold, only 10 to 20 percent do. If the owners aren’t found in time, the property must be turned over to the state in which the owner last resided.

The penalties for companies that don’t comply with state unclaimed property requirements are harsh. Each state has its own filing requirements. Each filing season brings an average of 1,650 changes. And there are more than 160 property codes, each with a different dormancy threshold for each state. Non-compliance penalties for each property can run up to $25,000 in fines, plus 25 percent of the property value and 12 percent annual interest. Audits can go back 20 years or more. And if states audit jointly, one audit can result in penalties from all participating states. That’s why it not only makes good sense for the holders of your unclaimed property to use LongLostMoney; it makes good business sense. See why you need to be here?

Come back often. We’ll still be on the lookout for your long-lost money.
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