Bank of Canada Unclaimed Property – What You Need to Know in 2025

Canada’s Largest Unclaimed Property Custodian

In 2025, the Bank of Canada continues to manage the largest portfolio of federally regulated unclaimed financial assets in the country. These include dormant balances from major banks such as:

• RBC

• TD

• Scotiabank (BNS)

• CIBC

• Trust and loan companies

New as of 2023, the Bank now also manages foreign-denominated accounts in USD, EUR, GBP, JPY, and more—broadening the scope of what Canadians (and some non-residents) may be able to claim.

What Assets Are Held by the Bank of Canada in 2025?

Unclaimed assets are transferred to the Bank of Canada after 10 years of inactivity and a failure to locate the rightful owner.

Federally Held Unclaimed Assets Include:

• Chequing and savings accounts

• Positive credit card balances

• GICs and term deposits

• Deposit receipts

• Bank drafts

• Certified cheques

• Money orders

• Official cheques

• Traveller’s cheques

These are then held for:

• 30 years if the balance is under $1,000

• 100 years if the balance is $1,000 or more

This ensures decades-long opportunity for owners or heirs to step forward and claim the funds.

What the Bank of Canada Does Not Hold

Not all dormant or unclaimed assets are federally held. Many fall under provincial jurisdiction or remain with private entities.

Excluded from the Bank of Canada’s Program:

• RRSPs and RRIFs (except Canada RSP/RIF plans)

• TFSA accounts

• Life insurance policies

• Balances at non-federal credit unions

• Utility and corporate overpayments

• Stocks and dividends

• Gold/silver certificates

• Gift cards or loyalty points

• Safety deposit boxes

• Real estate, livestock, or personal assets

Related Reading: Canadian Sources of Forgotten Funds

Ontario's Unique Situation: No Unclaimed Property Law

Ontario—Canada’s most populous province and corporate hub—remains the only region in North America without unclaimed property legislation. This is an example of how reclaiming unclaimed property is getting harder in some areas of the world.

• No obligation for companies to disclose or remit dormant assets

• Assets can legally be held indefinitely

• Estimated $1 billion+ in unclaimed financial assets in Ontario-based businesses

This lack of oversight makes it significantly more difficult for individuals, charities, and companies to locate and reclaim what is rightfully theirs.

Bank of Canada Unclaimed Property Statistics for 2025

Here’s the latest data:

Only a tiny fraction of unclaimed assets are successfully reclaimed each year—leaving vast sums untouched despite being legally accessible.

Why You Should Take Action in 2025

Failing to claim these funds benefits no one but the holders. Reclaiming what’s yours can offer significant advantages:

• Relief from inflation and financial stress

• Help with debt, rent, or living expenses

• Business reinvestment or nonprofit funding

• Supporting family savings or travel goals

How AssetFynd Simplifies the Process

AssetFynd is a Canadian leader in unclaimed property recovery, helping individuals and organizations navigate complex asset searches across:

• Federal records (e.g., Bank of Canada)

• Provincial databases

• International holdings (e.g., U.S., U.K., Australia)

We provide:

• Streamlined search through AI-enhanced systems

• Documentation support

• Multi-jurisdictional recovery management

With our help, recovering what’s yours can be quick, easy, and frustration-free.

Get Started with AssetFynd Today

Don't let your assets sit forgotten in government accounts.

Reach out to us to begin your unclaimed property search today.

FAQs

• How can I search the Bank of Canada’s unclaimed property database?

  Visit their online portal or work with AssetFynd for a guided recovery process and improved match accuracy.

• How long does the Bank of Canada hold unclaimed funds?

  30 years for balances under $1,000, and 100 years for larger balances.

• Can residents of Ontario claim funds from the Bank of Canada?

  Yes—if the funds are federally held. However, Ontario has no provincial program for locally retained assets.

• What if I don’t recognize the account or amount?

  AssetFynd can help validate ownership, match old accounts, and clarify asset origin through secure searches.

• Does AssetFynd charge upfront fees?

  We offer results-oriented service structures—reach out to discuss the best plan for your situation.

• Why is so little of the $1.44 billion ever claimed?

  Lack of awareness, bureaucracy, and data errors are the primary culprits. That’s where AssetFynd steps in.