Those who grew up before the digital age may recall a time when companies issued ornate paper stock certificates. Though it may feel like a distant memory, one of the last known issuances of paper certificates wasn’t too long ago, in 2013, by The Walt Disney Company.

If you’re spring cleaning, you might come across old share certificates tucked away in an office or attic. If the company still exists—or if it was acquired or merged—the certificate may still hold value. Even if the company no longer exists, the certificate itself could be valuable. The hobby of collecting old stock certificates, known as “scripophily,” continues to attract collectors, some of whom are willing to pay large sums for their historical significance or aesthetic appeal.

Other Spring Cleaning Finds: Lost Funds & Forgotten Accounts

Here are other places where you might find forgotten funds:

Pension Plans — There has been recent press coverage about the substantial amount of unclaimed pension plans, with Ontario alone having $3.6 billion in unclaimed funds by nearly 200,000 “missing” plan members.¹ If you’ve changed employers over the years, you may have forgotten about a company pension plan. Contact your former employers and speak to the plan administrator to check.

Bank Accounts — At last count, the Bank of Canada holds over $1.8B in unclaimed balances,² including dormant bank accounts, term deposits and GICs with no activity for 10 years or more. Check for unclaimed funds: https://www.unclaimedproperties.bankofcanada.ca/

Canada Revenue Agency (CRA) Refunds — The latest report suggests the CRA holds 8.9 million uncashed cheques worth over $1.4 billion.³ To check for outstanding payments, log into your CRA “My Account”: www.canada.ca/en/revenue-agency/services/uncashed-cheque.html

Canada Savings Bonds — While these were discontinued in November 2017, most were issued as physical paper certificates. A report from before they were discontinued found there were $420 million of matured—but non-redeemed—Canada Savings and Premium Bonds, suggesting many have been misplaced. If you’ve found an old certificate, you can take it to any financial institution to redeem it. For lost certificates, see: https://www.unclaimedproperties.bankofcanada.ca/app/report-lost-bonds

Insurance Benefits — If you believe you are an entitled beneficiary or have unclaimed life insurance benefits, contact the insurance company directly. If you’re unsure of the provider, visit the OmbudService for Life & Health Insurance: https://olhi.ca/

Old Stock Certificates — If you find an old stock certificate, the Canadian Securities Administrators provides details on how to determine its value: https://www.securities-administrators.ca/resources/additional-information/how-to-determine-the-value-of-an-old-stock-certificate/

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<sup>1. https://www.niageing.ca/missing-members; 2. nationalpost.com/news/canada/how-to-know-if-you-own-any-of-the-1-8b-in-unclaimed-bank-accounts-in-canada;
3. www.canada.ca/en/revenue-agency/news/2022/08/approximately-14-billion-in-uncashed-cheques-is-sitting-in-the-canada-revenue-agencys-coffers.html</sup>

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