Forgotten or lost assets held by businesses and organizations in Alberta, ranging from dormant bank accounts and uncashed cheques to forgotten safety deposit box contents and insurance proceeds, constitute a significant pool of resources. For example, a deceased individual’s investment portfolio might be considered such an asset if no heir steps forward.
Returning these assets to their rightful owners strengthens the Albertan economy and reinforces public trust in financial institutions. Provincial legislation mandates the reporting and remittance of these holdings to safeguard them and facilitate their return. Historically, governments have played a crucial role in managing these resources, ensuring they are not permanently lost or misused.
