California Unclaimed Property and Missing Money

89,000 Californians have failed to redeem $50 million worth of IOU’s issued by the state in lieu of payment during the budget crisis of 2009.

On Friday, January 15, 2010, the California State Controller began mailing letters to those who have not cashed their Registered Warrants, commonly referred to as IOUs.

California issued IOUs July 2 through September 3 of 2009. IOU redemption began on September 4. Each California IOU accrued interest through September 3, 2009, but holders do not earn interest past that date.

Registered warrant holders can redeem IOUs in their possession by presenting them to participating banks and credit unions, or by mailing the IOU to:

California Controller Warrant Redemption
915 Capitol Mall
Attention Registered Warrant Desk
Sacramento, CA 95814

For assistance with other types of California unclaimed property and uncashed checks go to: www.unclaimed.com