Most of us would never expect that money could be sitting in our name, waiting to be claimed. Yet across Australia, more than $2.7 billion in forgotten funds is being held by banks, insurers, and government agencies.
A change of address, moving overseas, changing your name, or an employer reporting error can all lead to financial accounts being left behind. In other cases, family members may not realise that a deceased relative had accounts or policies that were never claimed.
The good news is that finding this money is often easier than people think, thanks to several national registers designed to reconnect individuals with their rightful sums.
In this guide, we explain how to find lost Super and unclaimed money, including where to search, what to do and who can help.
What is unclaimed money?
Unclaimed money refers to funds that have been inactive for a long period and can no longer be held by the original financial institution. It usually comes from bank accounts, shares, investments, and life insurance policies that people have simply lost track of.
Under Commonwealth law administered by the Australian Securities and Investments Commission (ASIC), when a bank account or policy has no contact or activity from the owner for at least seven years, the money must be transferred to the Commonwealth and administered by ASIC, then paid into the Commonwealth Consolidated Revenue Fund.
Importantly, some types of unclaimed funds, such as sale proceeds and unclaimed wages, are governed by state legislation rather than Commonwealth law.
For example, Western Australia operates under the Unclaimed Money Act 1990, which sets a six-year dormancy period, while South Australia follows the Unclaimed Money Act 2021 with a five-year reporting timeframe.
Unclaimed wealth in deceased estates
Unclaimed money can also arise when someone passes away, and certain financial accounts are missed when settling their estate.
This lost money may include forgotten bank accounts, share dividends, insurance payouts, or superannuation that was never claimed by the estate or beneficiaries.
If these funds remain inactive for several years, they may be transferred to official registers under unclaimed money laws. The purpose is to safeguard the funds until the rightful estate or beneficiaries come forward to claim them.
To recover money belonging to a deceased person, the executor or administrator must lodge a claim and provide proof of authority to act for the estate. This usually includes Probate or Letters of Administration, along with supporting documents such as the death certificate, a copy of the Will, and identification for the executor.
Once the claim is approved, the funds are paid to the estate so they can be distributed according to the Will or any applicable inheritance laws.
Unpaid Medicare benefits
Sometimes money owed through Medicare goes unpaid simply because the system doesn’t have your current bank details. If your account information is missing or outdated, Medicare may not be able to deposit your rebate even after a claim has been processed.
This often happens when people change bank accounts, forget to update their details, or never add a bank account after turning 14. In these situations, Medicare benefits can remain unpaid until the correct payment information is provided.
The easiest way to fix this is to update your bank details through your myGov account. Once your details are added or corrected, Medicare will generally process any outstanding payments within a few business days.
It’s also important to know that unpaid Medicare rebates do not appear on standard unclaimed money registers. To check if you have benefits waiting to be paid, you need to log in to your myGov account and review your Medicare payment details directly.
Recovering unclaimed money in bank accounts and insurance policies
If you think you’ve left money in an old bank account, investment, or insurance policy, you may be able to find and claim it.
The Australian Securities and Investments Commission manages a national database of unclaimed funds that have been transferred from banks, insurers, and other financial institutions. This register is publicly searchable through the Moneysmart Unclaimed Money Search, and a completely free resource.
Here’s how to use it:
- Visit the Moneysmart website and search your name. If you’ve changed addresses or names in the past, try using variations, including previous surnames or older addresses.
- If a record is found, the listing will show basic details about the funds along with a unique Original Transaction Number (OTN). Make note of this number, which identifies the specific record you’ll need when making a claim.
- Submit a claim through the MoneySmart website. In most cases, you’ll need to provide proof of identity and evidence that you’re the rightful owner of the account or policy. Supporting documents may include old bank statements, insurance paperwork, or correspondence from the financial institution.
Claims can also be made on behalf of a deceased person. In these situations, additional documents like a death certificate, probate, or letters of administration may be required.
Importantly, there’s no time limit for claiming unclaimed money held by the government. If you can demonstrate ownership, you can recover the funds at any time.
Lost superannuation
Many Australians have multiple superannuation accounts. Life events like moving house, changing jobs, updating your name, or working overseas can all make it easy to lose track of retirement savings over time.
A super account is usually classified as a lost member super when the fund cannot contact you, or the account has been inactive for a long period. This can occur if the fund has outdated contact details or if no contributions or rollovers have been received for several years.
Super funds report these accounts to the Australian Taxation Office so they can be recorded and eventually reunited with their owners. In many cases, the super remains with the fund while they attempt to locate you. If unsuccessful, the balance may be transferred to the ATO and held as ATO-held super until it is claimed or rolled into another super account.
Some inactive accounts are also transferred to the ATO for safekeeping under government rules, particularly accounts under $6,000 that haven’t received contributions for an extended period. These accounts appear in ATO online services and can be claimed or consolidated with your active super fund.
Keeping your contact details up to date and consolidating multiple accounts into one fund can reduce the risk of losing track of your super in the future.
How to check for lost super funds
The easiest way to find lost super funds is by logging into ATO online services through your myGov account.
After signing in, select Super, then Fund details. This page shows a full list of your super accounts, including active funds and any that have been reported as lost.
If a super account has been recorded as a lost member account, the words Contact fund will appear next to the super fund name. If your super has already been transferred to the ATO as unclaimed money, it will appear as ATO-held super.
You can access the same information using the ATO mobile app, which allows you to review your super accounts from your phone.
If your super fund has transferred money to the ATO but it does not appear in your account, it may be due to mismatched personal details between your fund and ATO records. Updating your details with both organisations usually resolves this issue.
Call the Super Search line
You can also search for lost super by calling the automated Super Search line on 13 28 65. To complete a search, you’ll usually need to provide information that helps confirm your identity and link you to the account.
This may include your Tax File Number (TFN), full name and any previous names, date of birth, employment details, visa status if applicable, and your current and previous contact details.
Providing information about past super funds can also help locate an account. This may include the fund name, member number, the period contributions were made, and any documents or statements you still have.
Contact the ATO directly
If you prefer to speak with someone, you can contact the Australian Taxation Office on 13 10 20 between 8:00 am and 6:00 pm Monday to Friday to discuss your super and request assistance locating lost accounts.
Submit a paper request
If you cannot access online services, you can still request a search by completing a paper form.
Download the form Searching for lost and unclaimed super (NAT 2476), and send it to:
AUSTRALIAN TAXATION OFFICE
PO BOX 3578
ALBURY NSW 2640
Paper requests are still accepted, although they may take longer to process than online searches.
Third-party requests
In some situations, you may need to request super information on someone’s behalf.
For example, executors handling a deceased estate can apply to access super details as part of the estate process. Public trustees and their representatives may also request information once they have notified the ATO of their appointment. Meanwhile, registered tax agents can view a client’s super details through their professional online services.
Checking both your super funds and ATO records is the most effective way to locate lost super, as funds are required to report lost member accounts, but balances may also be transferred to the ATO for safekeeping.
FAQs
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The simplest way to prevent money from becoming unclaimed is to keep your contact details up to date with every financial provider you use.
If you move house, change your phone number, or update your email address, make sure those details are updated with your bank, super fund, insurer, and any services linked through myGov.
Other ways to reduce the risk of unclaimed money include:
- Checking your accounts from time to time so they do not become inactive
- Consolidating multiple super accounts into one fund where possible
- Keeping a record of your financial accounts and letting a trusted family member know where this information is stored
- Running occasional searches of government registers like the Moneysmart Unclaimed Money Search
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To recover unclaimed money, you’ll need to show that the account or policy belongs to you. This usually means providing proof of identity along with documents that link you to the funds.
Common examples include a certified copy of your driver’s licence or passport, old bank statements, super account details, insurance policy documents, or correspondence from the financial institution.
If you’re claiming money on behalf of a company, you may need to provide company records and proof of authority to act.
If the claim relates to a deceased estate, the executor will normally need to provide documents such as a death certificate and probate or letters of administration.
Ultimately, the stronger the evidence, the easier it is for the agency reviewing the claim to confirm ownership and release the funds.
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Interest has been payable on eligible unclaimed funds held by the Australian Government since 1 July 2013. The exact amount depends on how long the money was held before it was claimed.
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The timeframe can vary depending on the type of claim and how quickly ownership can be confirmed.
If your documentation is clear and the account details match government records, the claim may be processed within a few weeks.
More complex claims, like those involving deceased estates or older records, can take longer because additional verification is required.
The most important step is to provide accurate information and supporting documents when you lodge the claim. This helps avoid delays and allows the funds to be released as quickly as possible.
Access affordable housing and support services with Home In Place
Recovering lost super or unclaimed money can make a real difference to your financial situation. Even small amounts from forgotten bank accounts, insurance policies, or super funds can help cover everyday expenses like rent and offer extra security when it’s needed most.
In the meantime, if you’re looking for safe and affordable housing, please get in touch with Home in Place. We also provide community housing and emergency temporary accommodation across NSW, Victoria, and Queensland, working with tenants to access accommodation and support services that help build long-term stability.
