Searching for Unclaimed Property

Revenu Quebec offers a straightforward “unclaimed property registry” accessible through its website. This portal allows residents to quickly locate life insurance products, pension funds, investments, and other assets that may have gone unclaimed. According to the government, “Revenu Quebec pays an average of $32 million per year to owners of unclaimed property.” Alarmingly, the registry typically includes around 400,000 unclaimed properties valued at a whopping $430 million!

In Quebec, you can reclaim assets worth less than $500 for up to ten years, while those exceeding $500 can be claimed indefinitely. It’s easy to forget about such assets — life changes like moving, job transitions, or the passing of a loved one often result in these valuable items slipping through the cracks.

Important Note for Heirs: If you're an heir or the executor of an estate, you will need to take the additional step of processing your claim through traditional methods rather than the online service.

Finding Uncashed Cheques

On the other hand, the CRA also provides a means for Canadians to check for uncashed cheques through their “your online file” section. If you have any uncashed cheques, the CRA can resend them, especially if they were sent to an outdated address. Additionally, you can easily sign up for direct deposit to streamline future transactions and avoid the headache of finding an open bank machine that accepts deposits.

Keep in mind that the cheques you receive from the CRA, including refunds and benefits, do not expire since they are government-issued funds. However, you must request the cancellation of any original cheque directly.

A staggering estimate from the CRA suggests that as of May 2019, about five million Canadians were sitting on nearly 7.6 million uncashed cheques that had yet to be claimed. This figure may have changed since then, but it highlights a substantial opportunity for Canadians to reclaim their hard-earned money!

So, don’t let your money sit idly — take a few moments to check these resources today and potentially uncover unexpected cash waiting for you!