If someone stole your wallet, your first call is to your bank, because federal law caps your liability for unauthorized debit card charges at $50 only if you report the theft within two business days of learning about it. Miss that window and your exposure climbs to $500, and after 60 days from your statement date it can become unlimited.1Office of the Law Revision Counsel. 15 U.S.C. 1693g – Consumer Liability Everything else, the police report, the credit freeze, the new license, follows from locking down the money first.
Lock Down Your Cards First
Call every bank and credit card issuer whose card was in the wallet. Most issuers let you freeze a card instantly through their app, which buys you time while you work through the rest of your list. Ask each one to cancel the compromised card and send a replacement with a new number, and review recent transactions while you’re on the line.
The two-day clock matters most for debit cards because they pull directly from your checking account. Credit cards are safer by statute: your liability is capped at $50, and that cap only applies to charges made before you report the card stolen. After you notify the issuer, you owe nothing for later unauthorized use.2Office of the Law Revision Counsel. 15 U.S.C. 1643 – Liability of Holder of Credit Card Most major networks advertise zero-liability policies on top of that, but the statutory floor is what you can count on if something goes wrong.
If your phone went with the wallet, your digital wallet needs attention too. Apple Pay users can sign into iCloud.com/find from any browser, select the stolen device, and mark it as lost, which suspends the payment cards on the device without needing a verification code.3Apple Support. If Your iPhone or iPad Was Stolen You can also remove cards entirely through your account settings on another Apple device.4Apple Support. Remove Cards and Passes in Wallet on iPhone Google Wallet users can do the same from their Google account’s device management page. Call your card issuers either way.
File a Police Report and an FTC Report
A police report gives you a paper trail that banks, credit bureaus, and government agencies will ask for in the weeks ahead. Before you call the non-emergency line or open the online portal, write down where and roughly when the theft happened and what was in the wallet. Get the report number and keep it somewhere easy to find, because you’ll quote it repeatedly.
Then file a second report at IdentityTheft.gov, run by the Federal Trade Commission. The site generates an FTC Identity Theft Report along with a personalized recovery plan that includes pre-filled letters you can send to creditors and collection agencies.5Federal Trade Commission. IdentityTheft.gov The police report proves a crime happened. The FTC report is the toolkit you’ll use with businesses afterward.
Freeze Your Credit and Place a Fraud Alert
A fraud alert tells lenders to verify your identity before opening new credit in your name. You only need to contact one of the three major bureaus (Equifax, Experian, or TransUnion) because that bureau has to notify the other two. The initial alert is free and lasts a year.6Office of the Law Revision Counsel. 15 U.S.C. 1681c-1 – Identity Theft Prevention; Fraud Alerts and Active Duty Alerts
A credit freeze is stronger. It blocks access to your credit report entirely, so no one can open new accounts in your name until you lift it. Freezing is free at all three bureaus, and when you need to apply for credit yourself, the bureau has to lift the freeze within one hour of your request by phone or online.7Consumer Financial Protection Bureau. What Is a Credit Freeze or Security Freeze on My Credit Report? For most wallet theft victims, doing both makes sense, since a fraud alert on its own depends on lenders actually running the verification.
Don’t skip ChexSystems. It’s the consumer reporting agency banks check before opening checking and savings accounts, and a thief with your personal information could try to open deposit accounts in your name. You can place a free security freeze on your ChexSystems file online, by phone at 800-887-7652, or by mail.8ChexSystems. Security Freeze Information
Protect Your Tax ID With an IP PIN
If your Social Security card or anything showing your SSN was in the wallet, you have a tax fraud risk. Someone who files a fake return under your number before you do can delay your refund by months. The fix is enrolling in the IRS Identity Protection PIN program. An IP PIN is a six-digit number that has to appear on your federal return; without it, the IRS rejects the filing.9Internal Revenue Service. Get an Identity Protection PIN
Anyone with a Social Security number or ITIN can enroll. The fastest route is through your IRS online account. If you can’t verify online and your adjusted gross income is below $84,000 ($168,000 for married filing jointly), you can apply using Form 15227. Otherwise you can verify in person at a Taxpayer Assistance Center. A new IP PIN is generated each year.9Internal Revenue Service. Get an Identity Protection PIN
Rekey Your Locks if Keys Were in the Wallet
House keys plus a driver’s license with your home address is a bad combination. Call a locksmith and have your exterior locks rekeyed, which changes the internal pins so the old keys stop working and costs less than replacing the hardware. Renters should notify the landlord or property manager, who may handle the work or split the cost. For a stolen car key, contact your dealership about reprogramming the fob; modern vehicles with electronic ignition can often have the stolen fob deactivated remotely.
Replace Your Stolen Documents
Once the security steps are done, start replacing what was in the wallet. The longer identity documents are missing, the more time a thief has to impersonate you.
Driver’s License or State ID
Contact your state’s motor vehicle agency for a duplicate. You’ll usually need proof of identity like a birth certificate or passport, plus proof of your current address. Replacement fees generally run between $11 and $44. Some states handle it online if a photo is already on file; others want you in person.
Social Security Card
Replacement cards are free. You can apply online through a my Social Security account, by calling 800-772-1213, or in person.10Social Security Administration. Replace Social Security Card The SSA limits replacements to three per year and ten over a lifetime, with exceptions for things like legal name changes.11Social Security Administration. Code of Federal Regulations 422.103 Most places that ask for your SSN don’t need to see the physical card, so if you know the number, you may not need a new one at all.
Passport
Report a stolen passport to the State Department right away using Form DS-64, which you can submit online. The passport is canceled within one business day, and once reported stolen it can never be used for travel again, even if you find it later.12U.S. Department of State. Report Your Passport Lost or Stolen For a replacement, apply in person using Form DS-11. The 2026 fees are $130 for the application plus a $35 facility acceptance fee, totaling $165 for a passport book.13U.S. Department of State. Passport Fees If you’re abroad, contact the nearest U.S. embassy or consulate, which can issue an emergency passport valid for up to a year, often by the next business day.14Travel.State.Gov. Lost or Stolen Passport Abroad
Health Insurance and Medicare Cards
Call your health insurer and ask for a replacement card. Ask whether they can issue a new policy or member number, since the old one could be used to file fraudulent claims or obtain prescriptions. Medical identity theft is harder to catch than financial fraud because the fake records blend into your real medical history, so flag the theft rather than just requesting a duplicate.
Medicare cardholders can request a replacement through their my Social Security account online, by calling 800-772-1213, or in person at a Social Security office. Replacements usually arrive within about 30 days, and you can print an official copy through your Medicare.gov account in the meantime.15HHS.gov. How Do I Get a New Medicare Card if My Card Is Lost, Stolen, or Destroyed?
Specialized Cards
For Global Entry, NEXUS, or SENTRI, log into your Trusted Traveler Programs account and request a replacement. The fee is $25, and requesting it deactivates the stolen card.16U.S. Customs and Border Protection. Lost, Stolen or Damaged NEXUS, SENTRI, or Global Entry Card Active-duty service members and DoD civilians who lose a Common Access Card should notify their command or local security office immediately and can also call Military OneSource at 800-342-9647. Military dependents and retirees who lose a Uniformed Services ID should use the RAPIDS self-service portal or call the same number.17USAGov. How to Report a Lost or Stolen Military or Veteran ID Card
Keep Watching for Fraud
Most fraud shows up in the first few weeks after a theft, but some scams take months to surface. All three credit bureaus now provide free weekly credit reports through AnnualCreditReport.com, a permanent expansion of what used to be annual-only access.18Federal Trade Commission. You Now Have Permanent Access to Free Weekly Credit Reports Pull from a different bureau every couple of weeks for the first few months and look for accounts you didn’t open, addresses you don’t recognize, and hard inquiries you didn’t authorize.19Annual Credit Report.com. Your Rights to Your Free Annual Credit Reports
Watch your bank and credit statements over the same window. Fraudulent charges don’t always post right away. Turn on transaction alerts in your bank’s app so your phone pings for every purchase. And if you froze your ChexSystems file, pull your free annual report from them too, to confirm no one opened a deposit account in your name.