Tax time is the right time to get things in order

There’s something about tax season that either motivates us to finally tackle the things we’ve been putting off, or in other cases, encourages us to avoid it altogether.

Regardless of whether you’re on top of it, or not on it at all, taxes are one of the inevitable things we need to take care of. While you’re gathering receipts, reviewing statements, and double-checking your numbers, consider this: There’s one often-overlooked task that deserves a spot on your to-do list, and that is dealing with unclaimed funds.

A quick search on BCUnclaimed.ca can help you determine whether you, or your business, have money waiting to be claimed. It’s a simple step, but one that could result in a meaningful financial boost.

It is easy to do, potentially rewarding, and well worth the less than a minute it takes to search.

If you’re a business owner, or working on behalf of an organization, tax season is also the ideal time to review your records for any unclaimed funds you may be holding.

Old outstanding cheques, customer deposits, or inactive accounts don’t just clutter your books, they can also create accounting headaches if left unresolved. Submitting these funds to BC Unclaimed ensures they’re handled responsibly and gives the rightful owners a centralized place to search for their unclaimed funds and recover them.

More importantly, it helps you reduce your administrative burden and stay aligned with regulatory expectations (see BC’s Unclaimed Property Act and Unclaimed Property Regulation for the specifics).

In short, it’s a win-win: organizations get their books in order, and the funds have a better chance of finding their way back to rightful owners.

Tax time isn’t just about filing — it’s about taking stock. It’s your annual reminder to pause, review, and reset. By incorporating dealing with unclaimed funds into your routine, you’re not only being thorough, you’re being proactive in ensuring funds return to the right place.

So, as you check off your tax to-dos this year:

• Search your name (and your business name) for unclaimed funds at bcunclaimed.ca

• Review your records for anything outstanding

• Submit what you’re holding and clear it off your books

A little effort now can lead to cleaner records, fewer loose ends, and maybe even a pleasant surprise.