IRD Holds $619 Million in Unclaimed Money as Holdings Rise
Inland Revenue held $619.311 million in unclaimed money as at 30 June 2025. The total has risen each year from $446.758 million in June 2023 and $574.547 million in June 2024.
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Inland Revenue held $619.311 million in unclaimed money as at 30 June 2025. The total has risen each year from $446.758 million in June 2023 and $574.547 million in June 2024.
The funds come from dormant bank accounts, unpaid wages, insurance payouts and other sources after prescribed dormancy periods under the Unclaimed Money Act 1971. Holders such as banks and employers must transfer the money to Inland Revenue when owners cannot be traced.
How to search and claim
Inland Revenue maintains a public database and myIR portal for claims. Individuals search the database and submit claims through myIR. Organisations use the public search option.
Claims typically take 10 to 12 weeks to process. Processing can extend during peak periods. Applicants must provide evidence of entitlement.
IRD Unclaimed Money Holdings by Year
Holdings have risen by more than 38% over two years.
Source: Inland Revenue / Newsroom, 4 August 2026
Low claim success rate leaves most of the register untouched
In the 2023/24 year Inland Revenue received 23,000 claims. It approved 4,300 and paid out $36.5 million, according to Consumer NZ. The low approval rate leaves most of the register untouched.
Unclaimed money stays on Inland Revenue's list for 25 years under the current Unclaimed Money Act 1971. After that period without a successful claim the funds transfer to the Crown as general revenue.
Scam warning
Inland Revenue warns of scams. Fraudsters contact people claiming to hold unclaimed funds. Official processes operate only through the ird.govt.nz website and myIR.
Fiscal implications
Continued growth in the unclaimed total expands a long-term fiscal liability for Inland Revenue. It also creates a potential future revenue stream for the Crown after two and a half decades. Policy discussion continues on possible reforms to verification and claim periods, with commentary from Deloitte and Consumer NZ noting review interest.
