Inactive accounts and unclaimed life insurance: how to get the money back?
Verified 04 June 2024 - Directorate for Legal and Administrative Information (Prime Minister)
You think you have a bank account or a life insurance contract, but you're not sure? You can check on the Ciclade website and ask to recover the funds if the search is positive. This online service lists inactive life insurance accounts and contracts whose funds have been transferred to Caisse des Dépôts. We present you with the information you need to know.
Banks, payroll savings organizations and insurance companies are required to keep a record of inactive accounts opened in their institutions each year.
These are the following accounts and contracts:
Bank accounts:
- Current account or demand account
- Securities accounts
- Booklet A
- Booklet for sustainable and inclusive development
- Young booklet
- Codevi (Industrial Development Account)
- Housing Savings Plan (PEL)
Payroll Savings Account:
Life insurance contracts:
- Life insurance contract
- Cash Value Insurance Contract
- Capitalization Certificate or Bearer Certificate
- Supplementary retirement contract.
Banks, payroll savings organizations and insurance companies must declare your accounts or life insurance contracts inactive when certain conditions are met.
Bank Account
A bank account is considered inactive if it has not recorded a transaction for a certain period of time. Time limits vary depending on whether the account holder is alive or deceased:
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The incumbent is alive
The situation is not the same for a current account and a savings account.
This is a current account
A current account is declared inactive when the following 2 conditions are met:
- The account holder has not made any transactions (deposit, withdrawal, letter, mail, connection to the customer area) over a period of 12 months
- The account holder or its legal representative have not made any representations to the bank and have not made any transactions in another account opened in the same bank over a period of 12 months.
FYI
Where the account has not registered a transaction as a result of a court order or law (for example, a court order that places the account under sequester), the account is not considered inactive.
It's a savings account or a retirement savings account
A savings account or retirement savings account is declared inactive when the following 2 conditions are met:
- The account holder has not made any transactions (deposit, withdrawal, letter, mail, connection to the customer area) over a period of 5 years
- The account holder or his legal representative did not come forward to the bank and did not make any transactions on another account opened in the same bank over a period of 5 years
FYI
When the account has become inactive as a result of a court order or law (for example, a court order that puts the account under sequester), the account is not considered inactive.
The incumbent has died
In the event of the death of the holder, a bank account shall be declared inactive if, for a period of 12 months following the death, none of the rights-holders has not claimed the account's assets from the bank.
Life insurance contract
A life insurance contract is considered inactive if the funds are not claimed at the end of the contract.
The institution must inform you as the account holder or life insurance beneficiary that the account or contract has become inactive, and that it will be closed without your reaction within a certain period of time.
The institution must also inform your relatives who could benefit from the life insurance account or contract in your absence (legal representative, entitled person or designated beneficiary).
Banks and financial institutions are required to publish annually a list of accounts and life insurance contracts that have become inactive.
They must also limit the bank charges they apply to these products declared inactive.
The bank must keep funds in accounts and life insurance contracts inactive for a certain period. This period varies depending on whether the account or contract holder is alive or deceased:
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The incumbent is alive
The situation varies depending on the nature of the life insurance account or contract:
This is a bank account
The deadline is 10 years from one of the following events:
- Date of the last operation performed by the holder
- Date of last action of the account holder, his legal representative or his appointed person
- End of downtime, for savings products that have a downtime period.
It is a housing savings plan (ELP)
The time limit shall be 10 years from the date of the last payment if the holder has in addition to the PEL another account with the credit institution.
The time limit shall be 20 years from the date of the last payment, if the holder does not have another account with the same credit institution.
It's a life insurance contract
The period shall be 10 years from the date on which the life insurance contract expires.
Deceased licensee
The situation varies depending on whether the inactive account is a bank account or a life insurance contract:
This is a bank account
The period is 3 years from the date of death of the inactive account holder.
It's a life insurance contract
The period shall be 10 years from the date on which the institution became aware of the death of the insured person.
If you or one of your legal representatives if the institution has not notified the institution in due time, the institution must transfer the funds from the life insurance account or contract to the Caisse des Dépôts.
The transfer of funds to the Caisse des Dépôts automatically results in the closure of the life insurance account or contract.
The Caisse des Dépôts must keep the funds for a period which varies according to the nature of the product concerned:
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This is a bank account
The situation is different for the Housing Savings Plan (ELP).
General case
The situation varies depending on whether the holder was alive or deceased at the time of the transfer of funds to the Caisse des Dépôts:
The incumbent was alive at the time of the transfer of funds to the Caisse des Dépôts
The Caisse des Dépôts must keep the funds for 20 years from the date of deposit.
The incumbent had died at the time of the transfer of funds to the Caisse des Dépôts
The Caisse des Dépôts must keep the funds for a period of 27 years from the date of deposit.
PEL
If the holder has another account in the institution, the Caisse des Dépôts must keep the funds for 20 years from the date of deposit.
If the holder does not have another account in the institution, the Caisse des Dépôts must keep the funds for a period of 10 years from the date of deposit.
It's a life insurance contract
The Caisse des Dépôts must keep the funds for 20 years from the date of deposit.
If you or one of your legal representatives The Caisse des Dépôts must transfer the assets to the State or overseas authorities if it has not made representations to the Caisse des Dépôts within the deadline.
In this case, you or your legal representatives will no longer be able to recover the funds.
If you want to know if you have an inactive account or an unclaimed life insurance contract, you need to search through the Ciclade online service:
Find out if you have an inactive account (Ciclade)
There is no nationality requirement.
The search is limited to the following accounts and contracts:
- Bank accounts and life insurance contracts opened in metropolitan France and the overseas departments
- Accounts opened in overseas communities (New Caledonia, French Polynesia, Wallis and Futuna).
If you hold or are the beneficiary of an inactive account or an unclaimed life insurance contract, you can request to recover the funds via the Ciclade online service:
Inactive Accounts
Inactive life insurance contracts