Reporting Unclaimed Property
About Reporting Unclaimed Property
Holders of Unclaimed Property include business associations, banking and financial organizations, life insurance corporations, and other entities holding property belonging to another person. By law, Holders are required to review their records each year to determine if they hold any property, whether tangible or intangible, that has remained unclaimed for the required dormancy period. Once property has remained unclaimed for the required dormancy period, it becomes reportable.
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The following information is provided to assist holders with reporting and remitting unclaimed property.
- Unclaimed Property Laws and Regulations
- General Reporting Quick Guide
- Unclaimed Property Holder Handbook
- Quarterly Newsletter
- Educational Seminar PowerPoint
Due Diligence Requirements
Holders of property are required to notify owners that their property is in danger of being transferred to the California State Controller's Office. This is called "due diligence". To meet the due diligence requirements of the law, the holder shall send notice to the Owner's address of record, typically not less than six months nor more than 12 months, before the time the account becomes reportable to the California State Controller's Office.
- View a Sample Due Diligence Letter
* Holders should refer to California Code of Civil Procedure, Sections 1513.5, 1514, 1516(d), and 1520(b) for the complete requirements for notifying owners of unclaimed property.
For a listing of the dormancy periods for the most frequently reported unclaimed property types view the Dormancy Periods Table
* A dormancy period is a specified period of time in which the property owner does not take action on his or her property. The dormancy period, also known as "escheat period", commences on the date of last activity by the owner. Dormancy periods vary depending on the property type.
Property Reporting Cycles
|Banking and Financial Organizations||2014||2013||2012||2011||2010|
|One Year Dormancy Period||2014||2013||2012||2011||2010|
|Three Year Dormancy Period||2014||2013||2012||2011||2010|
Reporting Instructions, Formats, and Forms
For a copy of our Holder Handbook, reporting instructions, reporting formats or forms, view our Reporting Instructions and Forms page.