As much as 25-50% of money collected from underage actors for their Coogan accounts goes missing every year. Your child may have lost money and not even realize it’s sitting in the Unclaimed Funds Account. There is one account for unclaimed Coogan money that is run by The Actors Fund. But if your child’s money isn’t properly assigned, it may end up in the state’s unclaimed property account.
When your child turns 18, the Coogan money can be rolled over into another type of account, so money collected before that time will still land in your child’s account. Tracking Coogan money is a pain for parents and many prefer not to deal with it, but as the CEO of your child’s career, you are responsible.