Are you a secret millionaire?

August 21, 2020 | Gary Weatherup


There are billions of dollars in tax refunds, uncashed cheques and dormant accounts with the government. Take a look!

CBC did a recent article talking about the different ways people can find "lost money". A few of our team members actually went through a few of these sites and found family and friends who had money owing to them! It is worth checking out.

I have summarized it below.

Uncashed CRA cheques

  • Did you know CRA has $1 billion of uncashed cheques!
  • You need to log into My Account on CRA. They have added a feature on their website to see if you have anything outstanding. Under related services (where you would change your direct deposit information), there is a second called "uncashed cheques".
  • These cheques never expire.

The Bank of Canada

  • Did Grandma set up a bank account you didn't know about?
  • When your bank account goes dormant (i.e. you haven't used it in 10 years), or a money order isn't cashed - that money is sent to the Bank of Canada. 
  • These balances are called "unclaimed balances" and you can search the database here. 

Forgotten EI/CPP/OAS cheques

  • Have you ever missed a CPP cheque or forgot to cash an OAS payment?
  • Service Canada doesn't have an online search portal, but if you believe you're missing a cheque - you can call them and they can confirm.

Provincial Unclaimed Balances

  • If you have ever lived in BC, Alberta or Quebec, you can look for unclaimed balances on their online databases.

Here is a link to the original CBC article.

Happy hunting!



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