Unclaimed estate money and deceased bank accounts in NZ

Written by · Reviewed by Smiths Insurance & KiwiSaver, licensed Financial Advice Provider (FSP712931) · Updated 2026-10-20 · Reviewed annually, or sooner if the rules it describes change.

Unclaimed money is money a bank, insurer or other organisation holds for a customer, has had no contact with the customer for 5 years, and has not been able to return. It is then passed to Inland Revenue (IR), or sometimes to Public Trust or Treasury. To find it for someone who has died, search IR's unclaimed money list by name, then claim in myIR with proof that you can act for the estate. IR says claims take at least 12 weeks (Inland Revenue: Claiming unclaimed money).

When a person dies, the estate is usually larger than the family can see. An old savings account, a final pay cheque or a life insurance policy nobody knew about may all be waiting. This guide covers the IR list: how it works, how to search and claim, and where to look for money that is not on it. It is general information, not legal advice.

Where does the money go, and for how long?

IR manages unclaimed money under the Unclaimed Money Act 1971. Its examples include deposits in banks and financial institutions, money in solicitors' trust accounts, unpaid wages and holiday pay, and the proceeds of life insurance policies. Its list of holders also names "Estate Legacy" under lawyers, and "Trust / Estate" balances (Inland Revenue: Holders and types of money).

Three limits to know:

  1. The 5-year trigger. The money becomes unclaimed after 5 years without contact, if the holder could not return it in that time. An organisation may pay it over earlier.
  2. The 20-year limit. IR holds unclaimed money for 20 years. After that it is removed from the list and no further claims can be made.
  3. Not everything is IR's. IR does not manage money covered by the Public Finance Act 1989, bona vacantia (ownerless) money, or other property such as cryptocurrencies. Treasury manages those. IR's list is not the place to look for an estate with no will and no relatives, where Public Trust says it engages a genealogist and the estate then goes to the Government; people who think they should have benefited can apply to the Treasury (Public Trust: When there is no will).

IR also says unclaimed money is not tax refunds, and that scammers may contact people claiming they have unclaimed money waiting. Claim only through IR's own site or myIR.

How to search and claim, step by step

  1. Get your proof of authority ready. For an estate IR lists "a copy of the will, the death certificate, a Letter of Administration" as examples of evidence that you can act, and accepts other evidence. If the will has not been through probate, ask the lawyer or read our probate guide.
  2. Search by name. Enter the name of the person on IR's website or in myIR. Try other names too: a maiden name, a business name, a trust. The page does not say whether amounts are shown before you log in.
  3. Check the holder's name. The organisation that sends the money is usually the one the person dealt with, but may appear under a changed name, for example after a merger or a change in a law firm's partners.
  4. Claim in myIR. Log in, select the relevant results and give information about yourself and your connection to the money. You can attach evidence such as old correspondence linking the person to the account.
  5. Wait. IR says claims take at least 12 weeks, and you do not need to contact it after submitting.
  6. Receive it. IR pays a successful claim into the bank account you give it. Money claimed for a deceased person belongs with the estate, so the executor handles it with the rest. See what counts as estate assets.

IR's search page was last updated on 16 March 2026 and its claiming page on 1 April 2026.

What the IR list will not tell you: where else to look

Most of what a person left will not be on the list yet. It will still be with the organisation that holds it, and a direct request is often faster than waiting for five years to pass.

What you are looking for Where to look What the sources say
Bank accounts The bank's deceased estates team, or notify through myTrove Banks can release funds for funeral costs without probate, and a joint account passes to the surviving owner
Retirement savings The scheme provider On death, the manager pays the balance to the estate (on application with a grant) or by the small-sum route; it does not go to a named beneficiary. IR's list of holders does not name these schemes
Life insurance The insurer; also IR's list Proceeds go to the estate only if payable to it. See unclaimed life insurance
Final pay and holiday pay The employer If an employer cannot find a past employee or their executor, holiday pay becomes unclaimed 5 years after it is calculated as owing
Shares and investments The company or registry, and IR's list under "Investments" IR lists investments under finance, insurance and co-operatives
Tax Inland Revenue IR needs written proof you can act, or its declaration form, and processing can take 10 weeks

Sources for the table: govt.nz: What to do when someone dies, myTrove, Schedule 1 clause 9 of the 2006 Act, Inland Revenue: Let us know someone has died, and Inland Revenue: Holding unclaimed money.

KiwiSaver savings are paid out to the estate or as the scheme's rules allow, so they are handled with the other estate assets (see administering a deceased estate).

myTrove is free for families and says it covers 200 or more participating organisations, across banking, retirement savings, tax, benefits, insurance and utilities, with no New Zealand death certificate needed to start. Our who to notify guide lists the other agencies.

Do you always need probate to get the money?

Not always. Banks, savings providers and insurers may release money without a court order if the total they hold is under $40,000 each, but they may choose not to, and the limit applies per payer, not to the whole estate (Administration Act 1969, s 65; Ministry of Justice). A High Court order is usually needed if the estate includes land or a house. The probate fee is $275 and a typical grant takes anywhere from 15 working days to 6 to 8 weeks, depending on the source and the court's workload (Ministry of Justice; govt.nz). Who can see the will while this happens is covered in who is entitled to a copy of a will.

What if the money stays unclaimed?

If no one claims within 20 years, IR removes it from the list. The practical lesson for a family is to search once the estate is in order, write down the search date and the names tried, and look again a year or two later, because holders send money in at different times. We did not find an official rule that obliges a bank to tell executors what it holds before the 5 years pass, so ask in writing.

Momentum Life and this page

Finding what someone left can prompt a look at your own affairs. The buttons on this page open Momentum Life's online quote, which is only one option. Momentum Life Limited's Funeral Insurance accepts New Zealanders aged 40 to 75 and pays a fixed benefit of $3,000 to $30,000 towards costs, which may not cover the whole funeral, and total premiums can end up larger than the benefit. It pays only for accidental death within 90 days of the accident during the first 24 months; for any other death in that window, premiums for that person are refunded. Quick Life accepts ages 18 to 65 with no health questions, but pre-existing conditions and suicide are excluded for the first 2 years. Neither accepts new applicants over 75. Momentum Life Limited's A.M. Best rating is B (Fair), in the "Vulnerable" range; see its financial strength page. Saving the money yourself is the other route.

QuoteHub is a Momentum Life partner and Smiths Insurance & KiwiSaver may receive a commission if you buy a Momentum policy; see how we are paid. Advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). Back to the estate guides.

Adviser's view

Searching Inland Revenue's list is quick, and the pages we read mention no charge, so it is worth doing for every estate. But the list is a last stop, not a first one: most of what a person left sits with banks, savings providers and insurers who can be contacted directly. Expect a claim to take at least 12 weeks, and treat any unexpected message saying you have unclaimed money waiting with suspicion, because IR warns that scammers use this.
, Financial Adviser (FSP1010699). General information, not personalised financial advice.

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Cite this page QuoteHub NZ (2026). Unclaimed Money Deceased NZ: How to Find It. www.quotehub.co.nz/guides/estate/unclaimed-money-deceased-nz. Updated 2026-10-20.

References

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